Panama: Dairy Produce Market 2024

Dairy Produce Market Size in Panama

The Panamanian dairy produce market stood at $X in 2022, increasing by X% against the previous year. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level in 2022 and is likely to see gradual growth in the immediate term.

Dairy Produce Production in Panama

In value terms, dairy produce production rose remarkably to $X in 2022 estimated in export price. Overall, production, however, recorded a abrupt downturn. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Dairy Produce Exports

Exports from Panama

In 2022, exports of dairy produce from Panama declined rapidly to X tons, waning by X% compared with the previous year's figure. Overall, exports, however, enjoyed buoyant growth. The growth pace was the most rapid in 2013 when exports increased by X%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, dairy produce exports contracted sharply to $X in 2022. Over the period under review, exports, however, saw a strong expansion. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Costa Rica (X tons) was the main destination for dairy produce exports from Panama, accounting for a X% share of total exports. Moreover, dairy produce exports to Costa Rica exceeded the volume sent to the second major destination, Honduras (X tons), threefold. Guatemala (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Costa Rica totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (X% per year) and Guatemala (X% per year).

In value terms, Costa Rica ($X) remains the key foreign market for dairy produce exports from Panama, comprising X% of total exports. The second position in the ranking was taken by Guatemala ($X), with an X% share of total exports. It was followed by Honduras, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Costa Rica stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (X% per year) and Honduras (X% per year).

Export Prices by Country

In 2022, the average dairy produce export price amounted to $X per ton, falling by X% against the previous year. In general, the export price recorded a drastic downturn. The most prominent rate of growth was recorded in 2020 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to Cuba ($X 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 Cuba (X%), while the prices for the other major destinations experienced a decline.

Dairy Produce Imports

Imports into Panama

In 2022, the amount of dairy produce imported into Panama declined to X tons, falling by X% against 2021 figures. In general, imports, however, showed a significant increase. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, dairy produce imports rose significantly to $X in 2022. Overall, imports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of dairy produce to Panama, accounting for a X% share of total imports. Moreover, dairy produce imports from the United States exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), fivefold. The third position in this ranking was held by Uruguay (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (X% per year) and Uruguay (X% per year).

In value terms, the United States ($X) constituted the largest supplier of dairy produce to Panama, comprising X% of total imports. The second position in the ranking was taken by New Zealand ($X), with a X% share of total imports. It was followed by Uruguay, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (X% per year) and Uruguay (X% per year).

Import Prices by Country

In 2022, the average dairy produce import price amounted to $X per ton, growing by X% against the previous year. Over the period under review, import price indicated prominent growth from 2012 to 2022: 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. Based on 2022 figures, dairy produce import price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Denmark ($X per ton), while the price for Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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