Panama - Bananas - Market Analysis, Forecast, Size, Trends And Insights
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View PricingBanana Price in Panama - 2023
Contents:
- Banana Price in Panama (FOB) - 2022
- Banana Price in Panama (CIF) - 2022
- Banana Exports in Panama
- Banana Imports in Panama
Banana Price in Panama (FOB) - 2022
In 2022, the average banana export price amounted to $445 per ton, picking up by 12% against the previous year. Over the last six years, it increased at an average annual rate of +3.8%. The pace of growth appeared the most rapid in 2019 an increase of 13%. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the near future.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($477 per ton), while the average price for exports to Costa Rica ($68 per ton) was amongst the lowest.
From 2016 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.
Banana Price in Panama (CIF) - 2022
The average banana import price stood at $8,533 per ton in 2022, which is down by -95% against the previous year. Overall, the import price, however, enjoyed a prominent increase. The growth pace was the most rapid in 2021 an increase of 18,837%. As a result, import price attained the peak level of $169,200 per ton, and then declined remarkably in the following year.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Costa Rica ($8,905 per ton), while the price for Colombia amounted to $8,208 per ton.
From 2014 to 2022, the most notable rate of growth in terms of prices was attained by Costa Rica (+70.2%), while the prices for the other major suppliers experienced mixed trend patterns.
Banana Exports in Panama
In 2022, shipments abroad of bananas decreased by -33.6% to 287K tons for the first time since 2018, thus ending a three-year rising trend. In general, exports showed a pronounced slump. The pace of growth was the most pronounced in 2021 when exports increased by 17% against the previous year. As a result, the exports reached the peak of 432K tons, and then shrank significantly in the following year.
In value terms, banana exports declined significantly to $128M in 2022. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 19%.
| Export of Banana in Panama (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 117 | 125 | 109 | 90.3 | -8.3% |
| United States | 3.6 | 10.9 | 39.1 | 18.1 | 71.3% |
| United Kingdom | 5.6 | 8.4 | 19.5 | 15.1 | 39.2% |
| Hong Kong SAR | N/A | N/A | 0.8 | 3.6 | 350.0% |
| Costa Rica | 0.3 | 0.4 | 0.4 | 0.3 | 0.0% |
| Others | 0.1 | 6.5 | 2.9 | 0.4 | 58.7% |
| Total | 127 | 151 | 172 | 128 | 0.3% |
Top Export Markets for Banana from Panama in 2022:
- Netherlands (200.4K tons)
- United States (41.2K tons)
- United Kingdom (31.6K tons)
- Hong Kong SAR (8.5K tons)
- Costa Rica (4.5K tons)
Banana Imports in Panama
In 2022, after two years of decline, there was significant growth in overseas purchases of bananas, when their volume increased by 500% to 90 kg. Over the period under review, imports, however, showed a precipitous slump.
In value terms, banana imports contracted rapidly to $768 in 2022. In general, imports, however, recorded a sharp shrinkage. The smallest decline of -61.1% was in 2021.
| Import of Banana in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Costa Rica | 1,999 | 5.5 | 1.5 | 0.4 | -94.2% |
| Colombia | N/A | 0.6 | N/A | 0.4 | -18.4% |
| Netherlands | 136 | N/A | N/A | N/A | 0% |
| Others | 21.6 | 0.4 | 1.0 | N/A | -78.5% |
| Total | 2,156 | 6.5 | 2.5 | 0.8 | -92.8% |
Top Suppliers of Banana to Panama in 2022:
- Colombia (48.0 kg)
- Costa Rica (42.0 kg)
This report provides an in-depth analysis of the banana market in Panama. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 486 - Bananas
Country coverage:
- Panama
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Panama
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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