Panama - Palm Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPalm Oil Price in Panama - 2023
Contents:
- Palm Oil Price in Panama (FOB) - 2022
- Palm Oil Price in Panama (CIF) - 2023
- Palm Oil Exports in Panama
- Palm Oil Imports in Panama
Palm Oil Price in Panama (FOB) - 2022
The average palm oil export price stood at $652 per ton in 2022, which is down by -21.5% against the previous year. Over the period under review, the export price showed a abrupt contraction. The most prominent rate of growth was recorded in 2021 when the average export price increased by 35% against the previous year. Over the period under review, the average export prices attained the peak figure at $1,989 per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.
Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Nicaragua ($753 per ton) and Costa Rica ($728 per ton), while the average price for exports to Switzerland ($610 per ton) and Morocco ($614 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 Switzerland (+8.8%), while the prices for the other major destinations experienced more modest paces of growth.
Palm Oil Price in Panama (CIF) - 2023
The average palm oil import price stood at $1,083 per ton in September 2023, picking up by 10% against the previous month. Over the period under review, the import price, however, recorded a pronounced slump. The pace of growth appeared the most rapid in May 2023 when the average import price increased by 39% m-o-m. Over the period under review, average import prices attained the maximum at $1,642 per ton in September 2022; however, from October 2022 to September 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was Colombia ($3,358 per ton), while the price for Free Zones ($1,027 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Colombia (+5.8%), while the prices for the other major suppliers experienced a decline.
Palm Oil Exports in Panama
For the fourth year in a row, Panama recorded growth in shipments abroad of palm oil, which increased by 32% to 77K tons in 2022. Overall, exports recorded a significant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 36% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.
In value terms, palm oil exports rose slightly to $50M in 2022. Over the period under review, exports continue to indicate a significant increase. The growth pace was the most rapid in 2020 when exports increased by 70% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.
| Export of Palm Oil in Panama (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 7.4 | 14.6 | 23.9 | 30.3 | 60.0% |
| Netherlands | 2.4 | 4.5 | 8.3 | 8.6 | 53.0% |
| Switzerland | 0.3 | 0.2 | 1.2 | 2.8 | 110.5% |
| Morocco | N/A | N/A | N/A | 2.6 | 0% |
| Nicaragua | 1.3 | 1.2 | 0.7 | 1.9 | 13.5% |
| Costa Rica | 0.7 | 0.7 | 0.5 | 1.6 | 31.7% |
| United States | N/A | N/A | N/A | 1.6 | 0% |
| Others | 4.9 | 7.4 | 13.8 | 1.0 | -41.1% |
| Total | 16.9 | 28.7 | 48.4 | 50.4 | 43.9% |
Top Export Markets for Palm Oil from Panama in 2022:
- Mexico (46.1K tons)
- Netherlands (13.2K tons)
- Switzerland (4.6K tons)
- Morocco (4.3K tons)
- United States (2.6K tons)
- Nicaragua (2.5K tons)
- Costa Rica (2.1K tons)
Palm Oil Imports in Panama
In 2022, purchases abroad of palm oil was finally on the rise to reach 6.2K tons after two years of decline. Over the period under review, imports recorded a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, palm oil imports soared to $10M in 2022. In general, imports continue to indicate a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Palm Oil in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Colombia | 1,696 | N/A | 10.1 | 6,008 | 52.4% |
| Free Zones | 0.2 | N/A | 8.5 | 1,582 | 1892.5% |
| Malaysia | 582 | 331 | 322 | 919 | 16.4% |
| Indonesia | 770 | 597 | 471 | 667 | -4.7% |
| Costa Rica | 1.5 | 230 | 258 | 299 | 484.2% |
| Guatemala | 16.7 | N/A | N/A | 228 | 139.0% |
| Ecuador | 44.5 | 444 | 92.2 | 151 | 50.3% |
| Others | 345 | 146 | 165 | 188 | -18.3% |
| Total | 3,456 | 1,747 | 1,327 | 10,042 | 42.7% |
Top Suppliers of Palm Oil to Panama in 2022:
- Colombia (3710.1 tons)
- Free Zones (957.0 tons)
- Malaysia (650.0 tons)
- Indonesia (494.1 tons)
- Costa Rica (149.7 tons)
- Guatemala (111.1 tons)
- Ecuador (91.5 tons)
This report provides an in-depth analysis of the palm oil 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 257 - Oil of palm
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
- 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 VOLUME AND VALUE
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
- 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
- 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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