Panama: Pulses Market 2024

Pulses Market Size in Panama

The Panamanian pulses market rose to $X in 2022, surging by X% against the previous year. In general, the total consumption indicated strong growth from 2012 to 2022: its value 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, consumption decreased by X% against 2020 indices. Pulses consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Pulses Production in Panama

In value terms, pulses production rose remarkably to $X in 2022 estimated in export price. Overall, production, however, recorded a abrupt setback. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

The average yield of pulses in Panama shrank to X kg per ha in 2022, stabilizing at the previous year's figure. Overall, the yield recorded a abrupt downturn. The most prominent rate of growth was recorded in 2017 when the yield increased by X% against the previous year. The pulses yield peaked at X kg per ha in 2012; however, from 2013 to 2022, the yield remained at a 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 total area harvested in terms of pulses production in Panama totaled X ha, therefore, remained relatively stable against 2021 figures. Over the period under review, the harvested area, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, the harvested area attained the peak level of X ha. From 2016 to 2022, the growth of the pulses harvested area failed to regain momentum.

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Pulses Exports

Exports from Panama

Pulses exports from Panama surged to X tons in 2022, jumping by X% on the previous year. Overall, exports, however, recorded a dramatic descent. The pace of growth was the most pronounced in 2017 with an increase of X%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, pulses exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a precipitous slump. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Venezuela (X tons) was the main destination for pulses exports from Panama, accounting for a X% share of total exports. Moreover, pulses exports to Venezuela exceeded the volume sent to the second major destination, Chile (X tons), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Venezuela amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (X% per year) and the United States (X% per year).

In value terms, Venezuela ($X), the United States ($X) and Chile ($X) appeared to be the largest markets for pulses exported from Panama worldwide, together comprising X% of total exports.

Chile, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average pulses export price amounted to $X per ton, which is down by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Venezuela ($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 the United States (X%), while the prices for the other major destinations experienced mixed trend patterns.

Pulses Imports

Imports into Panama

In 2022, pulses imports into Panama declined modestly to X tons, waning by X% against the year before. In general, imports, however, recorded significant growth. The pace of growth was the most pronounced in 2013 with an increase of X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, pulses imports totaled $X in 2022. Over the period under review, imports, however, showed a significant increase. The growth pace was the most rapid in 2013 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Canada (X tons) constituted the largest pulses supplier to Panama, with a X% share of total imports. Moreover, pulses imports from Canada exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was taken by Peru (X tons), with a X% share.

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

In value terms, the largest pulses suppliers to Panama were Canada ($X), the United States ($X) and Peru ($X), together accounting for X% of total imports.

Among the main suppliers, the United States, with a CAGR of X%, recorded the highest rates of growth with regard to 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 2022, the average pulses import price amounted to $X per ton, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the United States ($X per ton) and Peru ($X per ton), while the price for Canada ($X per ton) and Belize ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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