Price for Cereal Flour; of Maize (Corn) in Panama - 2023

Contents:

1. Price for Cereal Flour; of Maize (Corn) in Panama (CIF) - 2023
2. Price for Cereal Flour; of Maize (Corn) in Panama (FOB) - 2022
3. Imports of Cereal Flour; of Maize (Corn) in Panama
4. Exports of Cereal Flour; of Maize (Corn) in Panama

Price for Cereal Flour; of Maize (Corn) in Panama (CIF) - 2023

In July 2023, the average import price for cereal flour; of maize (corn) amounted to $1,059 per ton, declining by -6.5% against the previous month. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2023 an increase of 10% m-o-m. As a result, import price reached the peak level of $1,145 per ton; afterwards, it flattened through to July 2023.

Prices varied noticeably by the country of origin: the country with the highest price was the United States ($1,374 per ton), while the price for Colombia ($909 per ton) was amongst the lowest.

From November 2022 to July 2023, the most notable rate of growth in terms of prices was attained by the United States (+2.3%), while the prices for the other major suppliers experienced a decline.

Price for Cereal Flour; of Maize (Corn) in Panama (FOB) - 2022

In 2022, the average export price for cereal flour; of maize (corn) amounted to $2,500 per ton, leveling off at the previous year. Over the period under review, the export price saw a deep reduction. The pace of growth was the most pronounced in 2017 an increase of 58%. The export price peaked at $4,485 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Nicaragua.

From 2012 to 2022, the rate of growth in terms of prices for Cuba amounted to +29.2% per year.

Imports of Cereal Flour; of Maize (Corn) in Panama

In 2022, purchases abroad of cereal flour; of maize (corn) decreased by -21.9% to 4.5K tons, falling for the second year in a row after two years of growth. Overall, imports recorded a deep reduction. The most prominent rate of growth was recorded in 2020 when imports increased by 18%. As a result, imports attained the peak of 6.5K tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, cereal flour; of maize (corn) imports contracted to $4.8M in 2022. Over the period under review, imports continue to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2020 when imports increased by 18% against the previous year. As a result, imports attained the peak of $6.5M. From 2021 to 2022, the growth of imports failed to regain momentum.

Top Suppliers of Cereal Flour; of Maize (Corn) to Panama in 2022:

1. Colombia (2188.1 tons)
2. United States (1601.3 tons)
3. Costa Rica (658.0 tons)
4. Brazil (51.0 tons)

Exports of Cereal Flour; of Maize (Corn) in Panama

After two years of decline, shipments abroad of cereal flour; of maize (corn) decreased by 0% to 10 kg in 2022. Overall, exports saw a sharp shrinkage. The smallest decline of 99.9% was in 2020.

In value terms, cereal flour; of maize (corn) exports totaled $25 in 2022. Over the period under review, exports saw a precipitous slump. The smallest decline of 99.9% was in 2020.

Top Export Markets for Cereal Flour; of Maize (Corn) from Panama in 2022:

1. Nicaragua (10.0 kg)

Source: IndexBox Market Intelligence Platform