Panama: Sorghum Market 2025

Sorghum Market Size in Panama

The Panamanian sorghum market dropped sharply to $X in 2022, which is down by -44.2% against the previous year. In general, consumption recorded a deep reduction. Sorghum consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Sorghum Production in Panama

In value terms, sorghum production rose modestly to $X in 2022 estimated in export price. Over the period under review, production saw a precipitous decline. The most prominent rate of growth was recorded in 2014 with an increase of 28% 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.

The average yield of sorghum in Panama dropped significantly to X tons per ha in 2022, which is down by -45.5% compared with 2021. Overall, the yield continues to indicate a deep slump. The pace of growth appeared the most rapid in 2021 with an increase of 991% against the previous year. Over the period under review, the average sorghum yield reached the maximum level at X tons per ha in 2013; however, from 2014 to 2022, the yield failed to regain momentum. 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 sorghum production in Panama reached X ha, standing approx. at the previous year's figure. The harvested area increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when the harvested area increased by 19%. As a result, the harvested area attained the peak level of X ha. From 2015 to 2022, the growth of the sorghum harvested area remained at a lower figure.

Sorghum Exports

Exports from Panama

In 2020, the amount of sorghum exported from Panama was estimated at X tons, almost unchanged from the previous year. Overall, exports continue to indicate a perceptible decline. The smallest decline of 99.9% was in 2017. The exports peaked at X tons in 2016; however, from 2017 to 2020, the exports stood at a somewhat lower figure.

In value terms, sorghum exports stood at $X in 2020. In general, exports enjoyed a prominent increase. The smallest decline of 99.9% was in 2017. The exports peaked at $X in 2016; however, from 2017 to 2020, the exports stood at a somewhat lower figure.

Exports by Country

Curacao (X tons) was the main destination for sorghum exports from Panama, accounting for a approx. 100% share of total exports.

From 2014 to 2020, the average annual rate of growth in terms of volume to Curacao was relatively modest.

From 2014 to 2020, the average annual growth rate of value to Curacao was relatively modest.

Export Prices by Country

The average sorghum export price stood at $X per ton in 2020, approximately reflecting the previous year. In general, the export price recorded prominent growth. The most prominent rate of growth was recorded in 2017 when the average export price decreased by 99.9% against the previous year. Over the period under review, the average export prices hit record highs in 2020 and is expected to retain growth in the immediate term.

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

From 2014 to 2020, the rate of growth in terms of prices for France amounted to 0.0% per year.

Sorghum Imports

Imports into Panama

After three years of decline, overseas purchases of sorghum increased by 44% to X tons in 2022. Overall, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2017 when imports increased by 5,632% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, sorghum imports soared to $X in 2022. In general, imports recorded a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 3,578% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) was the main sorghum supplier to Panama, with a approx. 99% share of total imports.

From 2016 to 2022, the average annual rate of growth in terms of volume from the United States amounted to +76.8%.

In value terms, the United States ($X) constituted the largest supplier of sorghum to Panama.

From 2016 to 2022, the average annual growth rate of value from the United States amounted to +61.2%.

Import Prices by Country

In 2022, the average sorghum import price amounted to $X per ton, increasing by 20% against the previous year. In general, the import price, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 an increase of 54% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

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

From 2016 to 2022, the rate of growth in terms of prices for China amounted to -4.8% per year.

Source: IndexBox Platform