Report Update: May 1, 2024

Panama - Crude Soybean Oil - Market Analysis, Forecast, Size, Trends And Insights

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Crude Soybean Oil Price in Panama - 2023

Crude Soybean Oil Price in Panama (CIF) - 2022

The average crude soybean oil import price stood at $1,400 per ton in 2022, picking up by 13% against the previous year. Over the period under review, import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude soybean oil import price increased by +111.6% against 2015 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by 46% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($1,400 per ton), while the price for Costa Rica stood at $1,400 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bolivia (+50.2%), while the prices for the other major suppliers experienced a decline.

Crude Soybean Oil Price in Panama (FOB) - 2022

In 2022, the average crude soybean oil export price amounted to $1,311 per ton, remaining relatively unchanged against the previous year. In general, the export price, however, recorded a slight increase. The export price peaked at $1,329 per ton in 2021, and then declined slightly in the following year.

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

From 2016 to 2022, the rate of growth in terms of prices for Belgium amounted to 0.0% per year.

Crude Soybean Oil Imports in Panama

In 2022, supplies from abroad of crude soybean oil decreased by -74.5% to 32 tons, falling for the second consecutive year after two years of growth. Over the period under review, imports saw a dramatic descent. The pace of growth appeared the most rapid in 2020 when imports increased by 1,282%. As a result, imports reached the peak of 2.3K tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, crude soybean oil imports shrank dramatically to $45K in 2022. In general, imports showed a dramatic descent. The pace of growth was the most pronounced in 2020 with an increase of 1,183%. As a result, imports reached the peak of $2M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Import of Crude Soybean Oil in Panama (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Costa Rica	3.6	201	7.7	43.5	129.5%
United States	13.4	54.7	3.3	1.8	-48.8%
Argentina	68.6	1,681	144	N/A	44.9%
Bolivia	64.1	N/A	N/A	N/A	0%
Others	2.7	16.7	3.0	N/A	5.4%
Total	152	1,953	158	45.3	-33.2%

Top Suppliers of Crude Soybean Oil to Panama in 2022:

Costa Rica (31.1 tons)
United States (1.3 tons)

Crude Soybean Oil Exports in Panama

In 2022, after two years of decline, there was significant decline in overseas shipments of crude soybean oil, when their volume decreased by -7.1% to 317 tons. In general, exports, however, enjoyed a strong increase.

In value terms, crude soybean oil exports declined to $415K in 2022. Overall, exports, however, saw a strong expansion.

Export of Crude Soybean Oil in Panama (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Barbados	N/A	N/A	N/A	415	0%
Belgium	N/A	N/A	453	N/A	0%
Others	315	N/A	N/A	N/A	0%
Total	315	N/A	453	415	9.6%

Top Export Markets for Crude Soybean Oil from Panama in 2022:

Barbados (316.8 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the crude soybean oil 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 237 - Oil of Soybeans

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. TOP EXPORTING COUNTRIES
4. 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 VOLUME AND VALUE
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. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023