Panama: Root And Tuber Market 2024

Root And Tuber Market Size in Panama

The Panamanian root and tuber market skyrocketed to $X in 2022, picking up by X% against the previous year. Overall, consumption, however, recorded a slight curtailment. Root and tuber consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Root And Tuber Production in Panama

In value terms, root and tuber production declined modestly to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of X%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

The average yield of roots and tubers in Panama skyrocketed to X tons per ha in 2022, growing by X% on the previous year. Over the period under review, the yield, however, showed a relatively flat trend pattern. Over the period under review, the average root and tuber yield reached the peak level at X tons per ha in 2015; however, from 2016 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, approx. X ha of roots and tubers were harvested in Panama; leveling off at the year before. Overall, the harvested area, however, saw a perceptible decrease. The most prominent rate of growth was recorded in 2016 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to root and tuber production reached the peak figure at X ha in 2013; however, from 2014 to 2022, the harvested area stood at a somewhat lower figure.

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Root And Tuber Exports

Exports from Panama

In 2022, the amount of roots and tubers exported from Panama dropped significantly to X tons, which is down by X% on the previous year. Over the period under review, exports, however, continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, root and tuber exports declined notably to $X in 2022. Overall, exports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for root and tuber exports from Panama, accounting for a approx. X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to X%.

In value terms, the United States ($X) also remains the key foreign market for roots and tubers exports from Panama.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at X%.

Export Prices by Country

The average root and tuber export price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 an increase of X%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to X% per year.

Root And Tuber Imports

Imports into Panama

In 2022, overseas purchases of roots and tubers decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2013 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, root and tuber imports contracted markedly to $X in 2022. In general, imports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then dropped dramatically in the following year.

Imports by Country

The United States (X tons), Canada (X tons) and Germany (X tons) were the main suppliers of root and tuber imports to Panama, together accounting for X% of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Canada ($X) and Germany ($X) appeared to be the largest root and tuber suppliers to Panama, with a combined X% share of total imports.

The United States, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers 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 root and tuber import price amounted to $X per ton, increasing by X% against the previous year. In general, import price indicated a temperate increase 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, root and tuber import price increased by X% against 2013 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2022, 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

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