Panama: Market for Powdered, Condensed Or Evaporated Milk 2024

Market Size for Powdered, Condensed Or Evaporated Milk in Panama

The Panamanian market for powdered, condensed or evaporated milk rose sharply to $X in 2022, surging by X% against the previous year. In general, the total consumption indicated a perceptible expansion 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. Powdered, condensed or evaporated milk consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Powdered, Condensed Or Evaporated Milk in Panama

In value terms, powdered, condensed or evaporated milk production expanded notably to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Exports of Powdered, Condensed Or Evaporated Milk

Exports from Panama

After two years of growth, shipments abroad of powdered, condensed or evaporated milk decreased by X% to X tons in 2022. Over the period under review, exports continue to indicate a mild descent. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, powdered, condensed or evaporated milk exports dropped dramatically to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Jamaica (X tons), Guyana (X tons) and Honduras (X tons) were the main destinations of powdered, condensed or evaporated milk exports from Panama, with a combined X% share 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 Jamaica (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Guyana ($X), Bermuda ($X) and Jamaica ($X) constituted the largest markets for powdered, condensed or evaporated milk exported from Panama worldwide, with a combined X% share of total exports.

Jamaica, with a CAGR of X%, recorded 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

In 2022, the average export price for powdered, condensed or evaporated milk amounted to $X per ton, waning by X% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bermuda ($X per ton), while the average price for exports to Jamaica ($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 Guyana (X%), while the prices for the other major destinations experienced a decline.

Imports of Powdered, Condensed Or Evaporated Milk

Imports into Panama

After three years of growth, supplies from abroad of powdered, condensed or evaporated milk decreased by X% to X tons in 2022. Overall, imports, however, recorded significant growth. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, powdered, condensed or evaporated milk imports totaled $X in 2022. In general, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

The United States (X tons), Uruguay (X tons) and New Zealand (X tons) were the main suppliers of powdered, condensed or evaporated milk imports to Panama, together accounting for X% of total imports. These countries were followed by the Netherlands, which accounted for a further X%.

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

In value terms, the largest powdered, condensed or evaporated milk suppliers to Panama were the United States ($X), Uruguay ($X) and New Zealand ($X), together accounting for X% of total imports. These countries were followed by the Netherlands, which accounted for a further X%.

Among the main suppliers, the Netherlands, with a CAGR of X%, saw 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 2022, the average import price for powdered, condensed or evaporated milk amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Uruguay ($X per ton) and New Zealand ($X per ton), while the price for the Netherlands ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was 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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