Report Update Apr 1, 2024

Panama - Sugar - Market Analysis, Forecast, Size, Trends and Insights

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Panama: Sugar Market 2024

Sugar Market Size in Panama

In 2022, the Panamanian sugar market increased by X% to $X, rising for the third consecutive year after two years of decline. In general, consumption showed a pronounced slump. Sugar consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Sugar Production in Panama

In value terms, sugar production stood at $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the production volume increased by X%. Sugar production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

In 2022, the average yield of sugar in Panama amounted to less than X kg per ha, approximately reflecting the year before. In general, the yield showed a relatively flat trend pattern. 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 sugar in Panama totaled less than X ha, almost unchanged from the previous year's figure. Over the period under review, the harvested area saw a relatively flat trend pattern.

Sugar Exports

Exports from Panama

In 2022, approx. X tons of sugar were exported from Panama; declining by X% compared with 2021 figures. Overall, exports continue to indicate a perceptible contraction. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, sugar exports expanded notably to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for sugar exports from Panama, with a X% share of total exports. It was followed by Spain (X tons), with a X% share of total exports.

From 2013 to 2022, the average annual growth rate of volume to the United States amounted to X%.

In value terms, the United States ($X) remains the key foreign market for sugar exports from Panama, comprising X% of total exports. The second position in the ranking was taken by Spain ($X), with a X% share of total exports.

From 2013 to 2022, the average annual rate of growth in terms of value to the United States stood at X%.

Export Prices by Country

In 2022, the average sugar export price amounted to $X per ton, growing by X% against the previous year. Over the last nine-year period, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2015 an increase of X% against the previous year. The export price peaked in 2022 and is likely to see steady growth in years to come.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to the United States totaled $X per ton.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (X%).

Sugar Imports

Imports into Panama

In 2022, purchases abroad of sugar increased by X% to X tons for the first time since 2018, thus ending a three-year declining trend. In general, imports posted a significant expansion. The pace of growth was the most pronounced in 2015 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, sugar imports skyrocketed to $X in 2022. Overall, imports showed significant growth. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The United States (X tons), Taiwan (Chinese) (X tons) and Turkey (X kg) were the main suppliers of sugar imports to Panama, together comprising X% of total imports.

From 2013 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X), Taiwan (Chinese) ($X) and Turkey ($X) appeared to be the largest sugar suppliers to Panama, with a combined X% share of total imports.

In terms of the main suppliers, the United States, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average sugar import price amounted to $X per ton, declining by X% against the previous year. Over the period under review, the import price, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. The import price peaked at $X per ton in 2021, and then dropped significantly in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for sugar in the world?

The countries with the highest volumes of consumption in 2023 were India, China and Brazil, together comprising 29% of global consumption. The United States, Indonesia, Russia, Thailand, Mexico, Pakistan, Germany, Australia, France and Egypt lagged somewhat behind, together accounting for a further 33%.

What are the largest producers of sugar in the world?

The countries with the highest volumes of production in 2022 were Brazil, India and China, together comprising 44% of global production. Thailand, the United States, Mexico, Russia, Pakistan, Germany, Australia, France, Egypt and Guatemala lagged somewhat behind, together accounting for a further 31%.

What are the leading suppliers of sugar to Panama?

In value terms, the United States, Taiwan Chinese) and Turkey $292) were the largest sugar suppliers to Panama, together comprising 99.9% of total imports.

What are the leading importers of sugar from Panama?

In value terms, the United States remains the key foreign market for sugar exports from Panama, comprising 99% of total exports. The second position in the ranking was taken by Spain, with a 1% share of total exports.

What is the average export price for sugar in Panama?

The average sugar export price stood at $694 per ton in 2022, increasing by 13% against the previous year.

What is the average import price for sugar in Panama?

In 2022, the average sugar import price amounted to $2,924 per ton, waning by -18.1% against the previous year.

This report provides an in-depth analysis of the sugar market in Panama. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 162 - Sugar, Raw Centrifugal
FCL 163 - Sugar, Non-Centrifugal

Country coverage:

Panama

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Panama
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023