Price for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Panama - 2023
Contents:
- Price for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Panama (CIF) - 2023
- Price for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Panama (FOB) - 2022
- Imports of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Panama
- Exports of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Panama
Price for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Panama (CIF) - 2023
In November 2023, the average import price for soups and broths and preparations therefor; homogenised composite food preparationses amounted to $3,795 per ton, rising by 2.6% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.8%. The most prominent rate of growth was recorded in December 2022 an increase of 27% month-to-month. The import price peaked at $3,982 per ton in March 2023; however, from April 2023 to November 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Mexico ($6,107 per ton), while the price for Peru ($2,606 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Mexico (+2.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Panama (FOB) - 2022
The average export price for soups and broths and preparations therefor; homogenised composite food preparationses stood at $3,590 per ton in 2022, surging by 41% against the previous year. Overall, the export price showed mild growth. The pace of growth was the most pronounced in 2013 an increase of 91%. The export price peaked at $6,241 per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Costa Rica ($3,709 per ton), while the average price for exports to Curacao ($1,509 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 Free Zones (+13.6%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Panama
In 2022, the amount of soups and broths and preparations therefor; homogenised composite food preparationses imported into Panama contracted dramatically to 5.3K tons, shrinking by -18.1% against 2021 figures. The total import volume increased at an average annual rate of +3.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 34%. As a result, imports attained the peak of 6.4K tons, and then reduced notably in the following year.
In value terms, imports of soups and broths and preparations therefor; homogenised composite food preparationses contracted slightly to $17M in 2022. Over the period under review, total imports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +13.5% 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 +46.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 46%. As a result, imports attained the peak of $18M, and then fell in the following year.
| Import of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Panama (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 2.1 | 3.1 | 5.6 | 4.3 | 27.0% |
| United States | 3.6 | 3.0 | 4.0 | 4.2 | 5.3% |
| Peru | 1.9 | 1.1 | 2.0 | 2.7 | 12.4% |
| Guatemala | 2.7 | 2.8 | 3.0 | 2.6 | -1.3% |
| China | 0.4 | 0.6 | 0.6 | 1.1 | 40.1% |
| El Salvador | 0.4 | 0.6 | 0.5 | 0.4 | 0.0% |
| Spain | 0.2 | 0.2 | 0.3 | 0.3 | 14.5% |
| Others | 0.6 | 0.8 | 1.6 | 1.8 | 44.2% |
| Total | 11.8 | 12.1 | 17.7 | 17.3 | 13.6% |
Top Suppliers of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations to Panama in 2022:
- United States (1231.7 tons)
- Peru (1018.8 tons)
- Mexico (939.2 tons)
- Guatemala (897.2 tons)
- China (379.6 tons)
- Spain (106.2 tons)
- El Salvador (93.0 tons)
Exports of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Panama
For the third year in a row, Panama recorded decline in shipments abroad of soups and broths and preparations therefor; homogenised composite food preparationses, which decreased by -2.5% to 3.5 tons in 2022. Over the period under review, exports faced a sharp descent.
In value terms, exports of soups and broths and preparations therefor; homogenised composite food preparationses soared to $13K in 2022. In general, exports continue to indicate a dramatic shrinkage.
| Export of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Costa Rica | N/A | 20.0 | 8.5 | 12.0 | -22.5% |
| Colombia | 0.2 | 47.6 | N/A | 0.4 | 26.0% |
| Curacao | 0.8 | 0.4 | N/A | 0.2 | -37.0% |
| Dominican Republic | 43.5 | 5.5 | N/A | N/A | -87.4% |
| Cuba | 34.6 | N/A | N/A | N/A | 0% |
| Others | 43.0 | 29.7 | 0.6 | N/A | -88.2% |
| Total | 122 | 103 | 9.1 | 12.5 | -53.2% |
Top Export Markets for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations from Panama in 2022:
- Costa Rica (3.2 tons)
- Curacao (0.1 tons)
- Colombia (0.1 tons)
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