Panama: Vegetable Market 2024

Vegetable Market Size in Panama

In 2022, after two years of growth, there was significant decline in the Panamanian vegetable market, when its value decreased by X% to $X. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. Vegetable consumption peaked at $X in 2021, and then reduced in the following year.

Vegetable Production in Panama

In value terms, vegetable production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when the production volume increased by X%. Vegetable production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of vegetables in Panama contracted significantly to X tons per ha, falling by X% on 2021 figures. Over the period under review, the yield, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The vegetable yield peaked at X tons per ha in 2020; however, from 2021 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The vegetable harvested area in Panama reached X ha in 2022, increasing by X% compared with the year before. Overall, the harvested area, however, saw a pronounced descent. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to vegetable production reached the maximum at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

Vegetable Exports

Exports from Panama

Vegetable exports from Panama contracted significantly to X tons in 2022, waning by X% compared with 2021. Overall, exports, however, recorded significant growth. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then reduced markedly in the following year.

In value terms, vegetable exports fell remarkably to $X in 2022. Over the period under review, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for vegetable exports from Panama, accounting for a X% share of total exports. It was followed by the Netherlands (X tons), with a X% share of total exports. Spain (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Spain (X% per year).

In value terms, the United States ($X) emerged as the key foreign market for vegetables exports from Panama, comprising X% of total exports. The second position in the ranking was held by Spain ($X), with a X% share of total exports. It was followed by the Netherlands, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (X% per year) and the Netherlands (X% per year).

Export Prices by Country

In 2022, the average vegetable export price amounted to $X per ton, growing by X% against the previous year. In general, the export price, however, faced a abrupt curtailment. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Spain ($X per ton) and the Netherlands ($X per ton), while the average price for exports to the United States ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Imports

Imports into Panama

Vegetable imports into Panama shrank rapidly to X tons in 2022, falling by X% against 2021. In general, imports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, vegetable imports shrank notably to $X in 2022. Overall, imports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. Imports peaked at $X in 2021, and then shrank significantly in the following year.

Imports by Country

Spain (X tons), the United States (X tons) and China (X tons) were the main suppliers of vegetable imports to Panama, together comprising X% of total imports.

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

In value terms, the largest vegetable suppliers to Panama were China ($X), the United States ($X) and Spain ($X), with a combined X% share of total imports.

China, with a CAGR of X%, recorded the highest growth rate of the value of imports, among 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 vegetable import price amounted to $X per ton, picking up by X% against the previous year. Overall, the import price, however, continues to indicate a mild curtailment. The growth pace was the most rapid in 2016 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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