Panama: Root And Tuber Market 2024

Root And Tuber Market Size in Panama

In 2022, after two years of growth, there was decline in the Panamanian root and tuber market, when its value decreased by X% to $X. In general, consumption showed a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Root And Tuber Production in Panama

In value terms, root and tuber production dropped modestly to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

In 2022, the average root and tuber yield in Panama shrank slightly to X tons per ha, remaining relatively unchanged against 2021 figures. Overall, the yield, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. The root and tuber yield peaked at X tons per ha in 2015; however, from 2016 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of roots and tubers production in Panama stood at X ha, approximately reflecting 2021. Overall, the harvested area, however, continues to indicate a pronounced decrease. The pace of growth appeared the most rapid in 2016 with an increase of X%. The root and tuber harvested area peaked at X ha in 2013; however, from 2014 to 2022, the harvested area failed to regain momentum.

Root And Tuber Exports

Exports from Panama

In 2022, shipments abroad of roots and tubers was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. In general, exports recorded a remarkable increase. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, root and tuber exports soared to $X in 2022. Overall, exports showed a strong increase. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for root and tuber exports from Panama, with a approx. X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at X%.

In value terms, the United States ($X) also remains the key foreign market for roots and tubers exports from Panama.

From 2012 to 2022, the average annual growth rate of value to the United States stood at X%.

Export Prices by Country

The average root and tuber export price stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the export price, however, showed a perceptible reduction. The most prominent rate of growth was recorded in 2015 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to X% per year.

Root And Tuber Imports

Imports into Panama

After two years of growth, purchases abroad of roots and tubers decreased by X% to X tons in 2022. Over the period under review, imports, however, posted a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, root and tuber imports dropped markedly to $X in 2022. Overall, imports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then declined significantly in the following year.

Imports by Country

The United States (X tons), Canada (X tons) and Germany (X tons) were the main suppliers of root and tuber imports to Panama, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest root and tuber suppliers to Panama were the United States ($X), Canada ($X) and Germany ($X), together comprising X% of total imports.

In terms of the main suppliers, the United States, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average root and tuber import price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the import price posted a perceptible increase. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform