Panama: Chili And Pepper Market 2024

Chili And Pepper Market Size in Panama

The Panamanian chili and pepper market rose markedly to $X in 2023, growing by X% against the previous year. Over the period under review, consumption enjoyed prominent growth. Over the period under review, the market attained the maximum level at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Chili And Pepper Production in Panama

In value terms, chili and pepper production expanded remarkably to $X in 2023 estimated in export price. Over the period under review, production recorded a remarkable increase. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

The average yield of chilies and peppers (green) in Panama soared to X tons per ha in 2023, jumping by X% against the previous year. Overall, the yield recorded a measured increase. The most prominent rate of growth was recorded in 2019 when the yield increased by X%. As a result, the yield attained the peak level of X tons per ha. From 2020 to 2023, the growth of the average chili and pepper yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2023, approx. X ha of chilies and peppers (green) were harvested in Panama; dropping by X% compared with the previous year. Over the period under review, the harvested area, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, the harvested area reached the peak level of X ha, and then declined markedly in the following year.

Chili And Pepper Exports

Exports from Panama

In 2023, exports of chilies and peppers (green) from Panama dropped modestly to X kg, waning by X% against the previous year's figure. Overall, exports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2023, the exports failed to regain momentum.

In value terms, chili and pepper exports reduced markedly to $X in 2023. Over the period under review, exports, however, enjoyed buoyant growth. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2023, the exports failed to regain momentum.

Exports by Country

Aruba (X kg) was the main destination for chili and pepper exports from Panama, accounting for a X% share of total exports. It was followed by Iceland (X kg), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of volume to Aruba was relatively modest.

From 2012 to 2023, the average annual rate of growth in terms of value to Aruba was relatively modest.

Export Prices by Country

In 2023, the average chili and pepper export price amounted to $X per ton, falling by X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of X%. The export price peaked at $X per ton in 2022, and then fell remarkably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iceland ($X per ton), while the average price for exports to Aruba amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%).

Chili And Pepper Imports

Imports into Panama

Chili and pepper imports into Panama surged to X tons in 2023, increasing by X% on the previous year's figure. Overall, imports, however, recorded a abrupt slump. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2023, imports failed to regain momentum.

In value terms, chili and pepper imports soared to $X in 2023. In general, imports, however, recorded a noticeable setback. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, the Dominican Republic (X tons) constituted the largest supplier of chili and pepper to Panama, accounting for a X% share of total imports. Moreover, chili and pepper imports from the Dominican Republic exceeded the figures recorded by the second-largest supplier, Costa Rica (X tons), threefold. The third position in this ranking was held by Peru (X tons), with a X% share.

From 2013 to 2023, the average annual growth rate of volume from the Dominican Republic was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Costa Rica (X% per year) and Peru (X% per year).

In value terms, the largest chili and pepper suppliers to Panama were Costa Rica ($X), the Dominican Republic ($X) and Peru ($X), together comprising X% of total imports.

Among the main suppliers, Costa Rica, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average chili and pepper import price amounted to $X per ton, dropping by X% against the previous year. Overall, import price indicated a notable increase from 2013 to 2023: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The import price peaked at $X per ton in 2022, and then contracted significantly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Peru ($X per ton), while the price for the Dominican Republic ($X per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Costa Rica (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform