Price for Dried Cod, Whether or Not Salted in Panama - 2023

Price for Dried Cod, Whether or Not Salted in Panama (CIF) - 2023

The average import price for dried cod, whether or not salted stood at $4,722 per ton in November 2023, remaining stable against the previous month. In general, the import price recorded a pronounced contraction. The import price peaked at $22,345 per ton in July 2023; however, from August 2023 to November 2023, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Norway.

From November 2022 to November 2023, the rate of growth in terms of prices for Norway amounted to -1.4% per month.

Price for Dried Cod, Whether or Not Salted in Panama (FOB) - 2022

In 2022, the average export price for dried cod, whether or not salted amounted to $5,023 per ton, with an increase of 2.5% against the previous year. Overall, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for dried cod, whether or not salted decreased by -6.5% against 2020 indices. The pace of growth was the most pronounced in 2019 an increase of 35%. Over the period under review, the average export prices reached the peak figure at $5,370 per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for Costa Rica amounted to -1.1% per year.

Imports of Dried Cod, Whether or Not Salted in Panama

In 2022, imports of dried cod, whether or not salted into Panama declined rapidly to 164 tons, dropping by -36% on 2021 figures. In general, imports continue to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 135%. As a result, imports attained the peak of 256 tons, and then fell rapidly in the following year.

In value terms, imports of dried cod, whether or not salted shrank remarkably to $855K in 2022. Overall, imports, however, continue to indicate a tangible expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 142% against the previous year. As a result, imports attained the peak of $1.1M, and then declined sharply in the following year.

Import of Dried Cod, Whether or Not Salted in Panama (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Norway	427	108	586	820	24.3%
Canada	304	329	451	N/A	21.8%
Others	67.0	16.2	60.5	34.8	-19.6%
Total	798	454	1,097	855	2.3%

Top Suppliers of Dried Cod, Whether or Not Salted to Panama in 2022:

Norway (160.2 tons)

Exports of Dried Cod, Whether or Not Salted in Panama

In 2022, overseas shipments of dried cod, whether or not salted decreased by -32.2% to 3 tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2021 when exports increased by 181%. As a result, the exports reached the peak of 4.5 tons, and then fell notably in the following year.

In value terms, exports of dried cod, whether or not salted dropped notably to $15K in 2022. Over the period under review, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 156% against the previous year. As a result, the exports attained the peak of $22K, and then reduced notably in the following year.