Panama: Plantain Market 2024

Plantain Market Size in Panama

The Panamanian plantain market dropped to $X in 2022, shrinking by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Plantain Production in Panama

In value terms, plantain production dropped modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when the production volume increased by X%. Plantain production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

The average yield of plantains in Panama amounted to X tons per ha in 2022, remaining stable against 2021. Overall, the yield, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the yield increased by X% against the previous year. Over the period under review, the average plantain yield attained the peak level at X tons per ha in 2014; however, from 2015 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of plantains in Panama reduced modestly to X ha, with a decrease of X% compared with 2021 figures. In general, the total harvested area indicated prominent growth from 2012 to 2022: its figure 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, plantain harvested area increased by X% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of X%. The plantain harvested area peaked at X ha in 2019; however, from 2020 to 2022, the harvested area remained at a lower figure.

Plantain Exports

Exports from Panama

In 2022, after two years of growth, there was significant decline in overseas shipments of plantains, when their volume decreased by X% to X tons. Over the period under review, exports, however, saw a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, plantain exports fell to $X in 2022. Overall, exports, however, posted significant growth. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X tons), the United States (X tons) and the UK (X tons) were the main destinations of plantain exports from Panama, together comprising X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plantain exported from Panama were Spain ($X), the United States ($X) and the UK ($X), with a combined X% share of total exports.

Spain, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average plantain export price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price, however, showed a significant decrease. The most prominent rate of growth was recorded in 2017 when the average export price increased by X%. 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 remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the UK ($X per ton) and Spain ($X per ton), while the average price for exports to Costa Rica ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Costa Rica (X%), while the prices for the other major destinations experienced mixed trend patterns.

Plantain Imports

Imports into Panama

In 2022, after two years of decline, there was significant growth in purchases abroad of plantains, when their volume increased by X% to X tons. Overall, imports posted significant growth. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, plantain imports skyrocketed to $X in 2022. In general, imports enjoyed a significant increase. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) was the main plantain supplier to Panama, accounting for a approx. X% share of total imports.

From 2015 to 2022, the average annual growth rate of volume from the United States amounted to X%.

In value terms, the United States ($X) constituted the largest supplier of plantains to Panama.

From 2015 to 2022, the average annual rate of growth in terms of value from the United States totaled X%.

Import Prices by Country

The average plantain import price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the import price, however, saw a abrupt decrease. The pace of growth appeared the most rapid in 2020 when the average import price increased by X%. Over the period under review, average import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2015 to 2022, the rate of growth in terms of prices for Ecuador amounted to X% per year.

Source: IndexBox Platform

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