Panama: Vegetable Market 2025

Vegetable Market Size in Panama

The Panamanian vegetable market contracted to $X in 2022, reducing by X% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Vegetable Production in Panama

In value terms, vegetable production rose modestly to $X in 2022 estimated in export price. In general, production recorded a pronounced decline. The pace of growth was the most pronounced in 2013 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

In 2022, the average vegetable yield in Panama shrank rapidly to X tons per ha, which is down by X% compared with the previous year. Over the period under review, the yield, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of X%. Over the period under review, the average vegetable yield reached the peak level at X tons per ha in 2020; however, from 2021 to 2022, the yield stood at a somewhat 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 vegetable harvested area in Panama was estimated at X ha, surging by X% against the previous year's figure. Overall, the harvested area, however, showed a noticeable descent. The pace of growth was the most pronounced in 2014 when the harvested area increased by X%. The vegetable harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

Vegetable Exports

Exports from Panama

In 2022, the amount of vegetables exported from Panama shrank significantly to X tons, with a decrease of X% on the previous year. In general, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by X%. The exports peaked at X tons in 2021, and then declined notably in the following year.

In value terms, vegetable exports shrank notably to $X in 2022. Overall, exports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then contracted rapidly in the following year.

Exports by Country

The United States (X tons) was the main destination for vegetable exports from Panama, accounting for a X% share of total exports. It was followed by the Netherlands (X tons), with a X% share of total exports. The third position in this ranking was held by Spain (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Spain (X% per year).

In value terms, the United States ($X) emerged as the key foreign market for vegetables exports from Panama, comprising X% of total exports. The second position in the ranking was held by Spain ($X), with a X% share of total exports. It was followed by the Netherlands, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (X% per year) and the Netherlands (X% per year).

Export Prices by Country

The average vegetable export price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price, however, saw a abrupt decline. The pace of growth appeared the most rapid in 2018 when the average export price increased by X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Spain ($X per ton) and the Netherlands ($X per ton), while the average price for exports to the United States ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (X%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Imports

Imports into Panama

In 2022, approx. X tons of vegetables were imported into Panama; shrinking by X% compared with the previous year. In general, imports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2017 when imports increased by X%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, vegetable imports shrank significantly to $X in 2022. Over the period under review, imports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Imports peaked at $X in 2021, and then fell significantly in the following year.

Imports by Country

Spain (X tons), the United States (X tons) and China (X tons) were the main suppliers of vegetable imports to Panama, together comprising X% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Spain ($X) were the largest vegetable suppliers to Panama, with a combined X% share of total imports.

China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average vegetable import price stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the import price, however, continues to indicate a mild shrinkage. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Spain ($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