Panama - Animal And Pet Feed - Market Analysis, Forecast, Size, Trends And Insights
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View PricingAnimal Feed Price in Panama - 2023
Contents:
- Animal Feed Price in Panama (CIF) - 2023
- Animal Feed Price in Panama (FOB) - 2022
- Animal Feed Imports in Panama
- Animal Feed Exports in Panama
Animal Feed Price in Panama (CIF) - 2023
In September 2023, the average animal feed import price amounted to $1,966 per ton, which is down by -7.3% against the previous month. Overall, the import price continues to indicate a mild contraction. The growth pace was the most rapid in August 2023 an increase of 22% against the previous month. Over the period under review, average import prices hit record highs at $2,346 per ton in March 2023; however, from April 2023 to September 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Guatemala ($3,608 per ton), while the price for Ecuador ($1,270 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Guatemala (+0.3%), while the prices for the other major suppliers experienced mixed trend patterns.
Animal Feed Price in Panama (FOB) - 2022
In 2022, the average animal feed export price amounted to $649 per ton, falling by -21.9% against the previous year. Over the period under review, the export price showed a abrupt decline. The most prominent rate of growth was recorded in 2013 an increase of 74% against the previous year. The export price peaked at $6,540 per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Nicaragua ($835 per ton), while the average price for exports to Aruba ($487 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 Aruba (-0.4%), while the prices for the other major destinations experienced a decline.
Animal Feed Imports in Panama
In 2022, the amount of animal and pet feed imported into Panama skyrocketed to 40K tons, growing by 19% on the previous year's figure. Overall, total imports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +14.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 36%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.
In value terms, animal feed imports skyrocketed to $81M in 2022. Over the period under review, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +19.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +72.3% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
Import of Animal Feed in Panama (Million USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Costa Rica | 12.2 | 14.1 | 12.3 | 23.0 | 23.5% |
Honduras | N/A | N/A | 4.4 | 8.8 | 100.0% |
United States | 6.8 | 9.1 | 7.8 | 7.6 | 3.8% |
Spain | 4.3 | 5.2 | 6.8 | 7.0 | 17.6% |
Ecuador | 2.5 | 0.4 | 0.8 | 6.8 | 39.6% |
France | 2.5 | 2.2 | 4.6 | 4.8 | 24.3% |
Peru | 2.6 | 0.8 | 4.7 | 3.5 | 10.4% |
Mexico | 2.7 | 2.4 | 4.0 | 3.4 | 8.0% |
Guatemala | 2.4 | 2.0 | 2.1 | 3.2 | 10.1% |
Colombia | 2.3 | 2.5 | 3.3 | 2.8 | 6.8% |
China | 1.1 | 1.4 | 1.7 | 2.2 | 26.0% |
Netherlands | 1.3 | 1.2 | 1.7 | 1.5 | 4.9% |
Canada | 0.1 | 0.9 | 0.4 | 1.4 | 141.0% |
Others | 6.2 | 7.4 | 8.1 | 5.0 | -6.9% |
Total | 47.0 | 49.5 | 62.7 | 81.0 | 19.9% |
Top Suppliers of Animal Feed to Panama in 2022:
- Costa Rica (9.9K tons)
- Honduras (6.6K tons)
- Ecuador (5.1K tons)
- Peru (3.2K tons)
- United States (3.1K tons)
- Spain (2.7K tons)
- Mexico (1.8K tons)
- Guatemala (1.2K tons)
- France (1.1K tons)
- Netherlands (0.9K tons)
- China (0.9K tons)
- Colombia (0.8K tons)
- Canada (0.7K tons)
Animal Feed Exports in Panama
In 2022, shipments abroad of animal and pet feed decreased by -78.9% to 1.1K tons, falling for the second year in a row after two years of growth. Overall, exports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 174% against the previous year. As a result, the exports reached the peak of 5.6K tons. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, animal feed exports plummeted to $682K in 2022. In general, exports saw a dramatic curtailment. The pace of growth appeared the most rapid in 2020 with an increase of 133%. As a result, the exports attained the peak of $6.8M. From 2021 to 2022, the growth of the exports remained at a lower figure.
Export of Animal Feed in Panama (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Aruba | 69.9 | 37.3 | 105 | 180 | 37.1% |
Guatemala | 1,069 | 1,858 | 865 | 168 | -46.0% |
El Salvador | 186 | 584 | 1,094 | 135 | -10.1% |
Honduras | 468 | 708 | 1,495 | 134 | -34.1% |
Nicaragua | 7.2 | 276 | 161 | 37.8 | 73.8% |
Guyana | N/A | N/A | N/A | 25.9 | 0% |
Colombia | 281 | 539 | 5.5 | 1.5 | -82.5% |
Venezuela | 206 | 70.4 | N/A | N/A | -65.8% |
Dominican Republic | 172 | 194 | N/A | N/A | 12.8% |
Costa Rica | 294 | 2,050 | 409 | N/A | 17.9% |
Others | 179 | 526 | 0.4 | N/A | -95.3% |
Total | 2,933 | 6,844 | 4,134 | 682 | -38.5% |
Top Export Markets for Animal Feed from Panama in 2022:
- Aruba (370.1 tons)
- Guatemala (239.4 tons)
- El Salvador (180.0 tons)
- Honduras (179.2 tons)
- Nicaragua (45.3 tons)
- Guyana (35.4 tons)
- Colombia (2.0 tons)
This report provides an in-depth analysis of the animal feed 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:
- Prodcom 10911010 - Premixtures for farm animal feeds
- Prodcom 10911033 - Preparations used for farm animal feeding (excluding premixtures): pigs
- Prodcom 10911035 - Preparations used for farm animal feeding (excluding premixtures): cattle
- Prodcom 10911037 - Preparations used for farm animal feeding (excluding premixtures): poultry
- Prodcom 10921060 - Preparations used for feeding pets (excluding preparations for cats or dogs, p.r.s.)
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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