Panama: Vegetable Market 2024

Vegetable Market Size in Panama

In 2022, the Panamanian vegetable market decreased by X% to $X, falling for the third year in a row after three years of growth. Over the period under review, consumption, however, continues to indicate a slight curtailment. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Vegetable Production in Panama

In value terms, vegetable production expanded slightly to $X in 2022 estimated in export price. Overall, production, however, saw a perceptible decline. The growth pace was the most rapid in 2013 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

The average yield of vegetables in Panama expanded rapidly to X tons per ha in 2022, increasing by X% on 2021 figures. Overall, the yield showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, the yield reached the peak level of X tons per ha. From 2021 to 2022, the growth of the average vegetable yield remained 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.

The vegetable harvested area in Panama reached X ha in 2022, picking up by X% compared with the previous year. Over the period under review, the harvested area, however, continues to indicate a abrupt shrinkage. The vegetable harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Vegetable Exports

Exports from Panama

In 2022, the amount of vegetables exported from Panama rose remarkably to X tons, with an increase of X% on the year before. In general, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, vegetable exports expanded rapidly to $X in 2022. Overall, exports showed a significant increase. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The Netherlands (X tons), the United States (X tons) and the UK (X tons) were the main destinations of vegetable exports from Panama, together comprising X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for vegetable exported from Panama were the Netherlands ($X), the United States ($X) and the UK ($X), together accounting for X% of total exports.

In terms of the main countries of destination, the Netherlands, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average vegetable export price amounted to $X per ton, approximately equating the previous year. Overall, the export price faced a abrupt decrease. The most prominent rate of growth was recorded in 2017 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Spain ($X per ton) and the Netherlands ($X per ton), while the average price for exports to the United States ($X per ton) and the UK ($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 mixed trend patterns.

Vegetable Imports

Imports into Panama

Vegetable imports into Panama reduced notably to X tons in 2022, declining by X% on the previous year. Overall, imports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2017 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, vegetable imports shrank rapidly to $X in 2022. Over the period under review, imports, however, posted significant growth. The growth pace was the most rapid in 2017 when imports increased by 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, 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 China (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest vegetable suppliers to Panama were China ($X), the United States ($X) and Spain ($X), 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

In 2022, the average vegetable import price amounted to $X per ton, picking up by X% against the previous year. Overall, the import price, however, showed a slight reduction. Over the period under review, average import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

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