Report Update: May 1, 2024

Panama - Dried Milk - Market Analysis, Forecast, Size, Trends and Insights

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Powdered Milk Price in Panama - 2023

Powdered Milk Price in Panama (CIF) - 2023

The average powdered milk import price stood at $3,280 per ton in September 2023, approximately equating the previous month. Overall, the import price showed a noticeable reduction. The growth pace was the most rapid in March 2023 an increase of 64% month-to-month. Over the period under review, average import prices hit record highs at $6,765 per ton in January 2023; however, from February 2023 to September 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was the Netherlands ($8,559 per ton), while the price for the United States amounted to $2,698 per ton.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.5%), while the prices for the other major suppliers experienced a decline.

Powdered Milk Price in Panama (FOB) - 2022

The average powdered milk export price stood at $4,765 per ton in 2022, which is down by -3.5% against the previous year. Overall, export price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, powdered milk export price increased by +97.7% against 2017 indices. The pace of growth was the most pronounced in 2018 when the average export price increased by 43% against the previous year. Over the period under review, the average export prices reached the maximum at $4,937 per ton in 2021, and then contracted slightly in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Aruba ($6,669 per ton), while the average price for exports to Cuba ($1,354 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 the United Arab Emirates (+90.9%), while the prices for the other major destinations experienced more modest paces of growth.

Powdered Milk Imports in Panama

In 2022, after three years of growth, there was significant decline in overseas purchases of powdered milk, when their volume decreased by -9.4% to 9.5K tons. The total import volume increased at an average annual rate of +10.1% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 28%.

In value terms, powdered milk imports surged to $41M in 2022. Over the period under review, total imports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +23.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +88.9% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 37% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Import of Powdered Milk in Panama (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	7.4	11.8	16.6	17.0	31.9%
Uruguay	4.9	N/A	6.9	11.0	30.9%
New Zealand	3.3	10.0	4.0	7.4	30.9%
Netherlands	2.8	3.8	3.4	4.8	19.7%
Argentina	N/A	1.9	2.9	N/A	52.6%
Costa Rica	1.7	0.7	0.1	N/A	-75.7%
Others	1.6	1.4	0.7	0.8	-20.6%
Total	21.7	29.7	34.5	41.0	23.6%

Top Suppliers of Powdered Milk to Panama in 2022:

United States (4.1K tons)
Uruguay (2.4K tons)
New Zealand (1.7K tons)
Netherlands (1.2K tons)

Powdered Milk Exports in Panama

After three years of growth, shipments abroad of powdered milk decreased by -93.2% to 84 tons in 2022. Overall, exports faced a significant curtailment. The growth pace was the most rapid in 2021 with an increase of 355%. As a result, the exports reached the peak of 1.2K tons, and then declined rapidly in the following year.

In value terms, powdered milk exports contracted notably to $401K in 2022. In general, exports faced a precipitous descent. The most prominent rate of growth was recorded in 2021 with an increase of 471% against the previous year. As a result, the exports reached the peak of $6.1M, and then contracted dramatically in the following year.

Export of Powdered Milk in Panama (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Guyana	N/A	210	5,045	197	-3.1%
Bolivia	N/A	140	361	174	11.5%
Aruba	27.9	4.5	81.6	13.5	-21.5%
Cuba	N/A	N/A	N/A	12.5	0%
Guatemala	627	471	632	2.8	-83.5%
Saint Lucia	N/A	211	N/A	N/A	0%
Gambia	N/A	7.2	N/A	N/A	0%
Others	127	28.5	3.4	0.7	-82.3%
Total	782	1,073	6,123	401	-20.0%

Top Export Markets for Powdered Milk from Panama in 2022:

Bolivia (39.1 tons)
Guyana (32.6 tons)
Cuba (9.3 tons)
Aruba (2.0 tons)
Guatemala (0.7 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the powdered milk 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 897 - Dry Whole Cow Milk
FCL 898 - Dry Skim Cow Milk

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