Report Update: May 1, 2024

Panama - Meat And Poultry - Market Analysis, Forecast, Size, Trends and Insights

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Meat and Poultry Price in Panama - 2023

Meat and Poultry Price in Panama (CIF) - 2022

The average meat and poultry import price stood at $2,921 per ton in 2022, rising by 11% against the previous year. In general, import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, meat and poultry import price increased by +35.1% against 2020 indices. The pace of growth was the most pronounced in 2017 when the average import price increased by 31%. Over the period under review, average import prices hit record highs at $3,696 per ton in 2015; however, from 2016 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 Chile ($4,258 per ton), while the price for Nicaragua ($2,359 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+3.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Meat and Poultry Price in Panama (FOB) - 2022

In 2022, the average meat and poultry export price amounted to $3,938 per ton, with a decrease of -6.6% against the previous year. Over the period under review, the export price continues to indicate a noticeable setback. The pace of growth was the most pronounced in 2018 when the average export price increased by 15%. The export price peaked at $6,104 per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to El Salvador ($5,077 per ton) and Trinidad and Tobago ($4,642 per ton), while the average price for exports to Jamaica ($3,542 per ton) and China ($3,953 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 El Salvador (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.

Meat and Poultry Imports in Panama

Meat and poultry imports into Panama contracted dramatically to 25K tons in 2022, which is down by -24.4% compared with 2021. Overall, imports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 31% against the previous year. As a result, imports attained the peak of 33K tons, and then contracted sharply in the following year.

In value terms, meat and poultry imports dropped significantly to $74M in 2022. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 59%. As a result, imports attained the peak of $88M, and then contracted markedly in the following year.

Import of Meat and Poultry in Panama (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	59.3	48.6	78.7	67.1	4.2%
Canada	2.4	2.4	4.6	2.9	6.5%
Chile	0.3	0.2	0.7	2.9	113.0%
Nicaragua	6.4	1.8	0.2	N/A	-82.3%
Others	5.5	2.2	3.4	0.8	-47.4%
Total	74.0	55.2	87.6	73.8	-0.1%

Top Suppliers of Meat and Poultry to Panama in 2022:

Nicaragua (undefinedK tons)
United States (23.6K tons)
Canada (1.1K tons)
Chile (0.7K tons)

Meat and Poultry Exports in Panama

In 2022, overseas shipments of meat and poultry decreased by -16.8% to 6.5K tons, falling for the second consecutive year after two years of growth. Overall, exports recorded a abrupt descent. The pace of growth was the most pronounced in 2020 with an increase of 2.9%. As a result, the exports reached the peak of 8K tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, meat and poultry exports dropped sharply to $26M in 2022. In general, exports recorded a deep setback. The most prominent rate of growth was recorded in 2021 when exports increased by 8%. As a result, the exports reached the peak of $33M, and then dropped markedly in the following year.

Export of Meat and Poultry in Panama (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	17.9	18.5	20.7	19.8	3.4%
Taiwan (Chinese)	5.0	6.2	6.5	3.1	-14.7%
Jamaica	1.2	1.1	2.1	1.4	5.3%
Cuba	0.1	0.4	0.9	0.5	71.0%
El Salvador	2.3	1.0	0.3	0.3	-49.3%
Guatemala	2.1	1.5	0.9	0.1	-63.8%
Others	2.2	1.7	1.4	0.4	-43.3%
Total	30.8	30.4	32.9	25.5	-6.1%

Top Export Markets for Meat and Poultry from Panama in 2022:

China (5008.3 tons)
Taiwan (Chinese) (697.1 tons)
Jamaica (394.5 tons)
Cuba (101.0 tons)
El Salvador (54.1 tons)
Guatemala (40.4 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the meat and poultry 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 1108 - Meat of asses
FCL 1089 - Meat of pigeons and other birds nes
FCL 947 - Buffalo meat
FCL 1127 - Meat of camels
FCL 867 - Meat of cattle
FCL 870 - Meat of cattle, boneless
FCL 1058 - Chicken meat
FCL 1069 - Duck meat
FCL 1017 - Goat meat
FCL 1073 - Goose meat
FCL 1097 - Horse meat
FCL 1111 - Meat of mules
FCL 1158 - Meat of other domestic camelids
FCL 1151 - Meat of other domestic rodents
FCL 1035 - Pig meat
FCL 1141 - Rabbit meat
FCL 977 - Meat of sheep
FCL 1080 - Turkey meat

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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, PRODUCING ANIMALS AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Producing Animals Slaughtered, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023