Panama: Whole Fresh Milk Market 2025

Whole Fresh Milk Market Size in Panama

The Panamanian whole fresh milk market stood at $X in 2022, rising by 6.8% against the previous year. In general, consumption, however, recorded a pronounced descent. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Whole Fresh Milk Production in Panama

In value terms, whole fresh milk production expanded slightly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2020 when the production volume increased by 20% against the previous year. Whole fresh milk production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Whole Fresh Milk Exports

Exports from Panama

In 2022, exports of whole fresh milk from Panama surged to X tons, picking up by 49% compared with 2021. Overall, exports, however, recorded a pronounced decline. The growth pace was the most rapid in 2017 with an increase of 348% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, whole fresh milk exports surged to $X in 2022. In general, exports, however, showed a deep downturn. The growth pace was the most rapid in 2017 when exports increased by 120%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Guyana (X tons) was the main destination for whole fresh milk exports from Panama, with a 53% share of total exports. Moreover, whole fresh milk exports to Guyana exceeded the volume sent to the second major destination, Colombia (X tons), more than tenfold. Cuba (X kg) ranked third in terms of total exports with a 0.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Guyana stood at +72.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+2.9% per year) and Cuba (-21.1% per year).

In value terms, Guyana ($X) remains the key foreign market for whole fresh milk exports from Panama, comprising 56% of total exports. The second position in the ranking was taken by Aruba ($X), with a 6.6% share of total exports. It was followed by Colombia, with a 0.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Guyana amounted to +51.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Aruba (-24.2% per year) and Colombia (-22.7% per year).

Export Prices by Country

In 2022, the average whole fresh milk export price amounted to $X per ton, approximately equating the previous year. Over the period under review, the export price recorded a deep contraction. The most prominent rate of growth was recorded in 2020 an increase of 6.4% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Aruba ($X per ton), while the average price for exports to Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Aruba (+25.4%), while the prices for the other major destinations experienced more modest paces of growth.

Whole Fresh Milk Imports

Imports into Panama

In 2022, supplies from abroad of whole fresh milk decreased by -99.2% to X tons, falling for the third consecutive year after three years of growth. Overall, imports saw a sharp downturn. The pace of growth appeared the most rapid in 2017 with an increase of 2,919%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, whole fresh milk imports plummeted to $X in 2022. In general, imports saw a deep slump. The growth pace was the most rapid in 2017 with an increase of 4,463% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) was the main supplier of whole fresh milk to Panama, with a approx. 100% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled +22.4%.

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

From 2012 to 2022, the average annual growth rate of value from the United States totaled +33.1%.

Import Prices by Country

The average whole fresh milk import price stood at $X per ton in 2022, surging by 546% against the previous year. In general, the import price posted a buoyant expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, 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 +8.7% per year.

Source: IndexBox Platform