Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Panama - 2023

Contents:

1. Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Panama (CIF) - 2022
2. Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Panama (FOB) - 2022
3. Imports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Panama
4. Exports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Panama

Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Panama (CIF) - 2022

In 2022, the average import price for white sugar (containing >= 99,5% sucrose) and chemically pure sucrose amounted to $1,895 per ton, picking up by 18% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 111% against the previous year. Over the period under review, average import prices reached the peak figure at $2,787 per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Free Zones ($6,269 per ton), while the price for Chile ($800 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Free Zones (+60.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Panama (FOB) - 2022

In 2022, the average export price for white sugar (containing >= 99,5% sucrose) and chemically pure sucrose amounted to $868 per ton, falling by -6.9% against the previous year. In general, the export price saw a pronounced descent. The most prominent rate of growth was recorded in 2016 an increase of 232%. As a result, the export price reached the peak level of $2,649 per ton. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Jamaica ($866 per ton), while the average price for exports to the United States totaled $865 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Jamaica (+13.8%), while the prices for the other major destinations experienced a decline.

Imports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Panama

In 2022, imports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose into Panama surged to 140 tons, growing by 45% on 2021. Overall, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 47% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose soared to $265K in 2022. Over the period under review, imports saw significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose to Panama in 2022:

1. United States (82.9 tons)
2. Chile (50.7 tons)
3. China (2.8 tons)
4. Free Zones (2.8 tons)

Exports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Panama

After three years of growth, overseas shipments of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose decreased by -36.3% to 195 tons in 2022. In general, exports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2021 when exports increased by 262%. As a result, the exports reached the peak of 306 tons, and then shrank rapidly in the following year.

In value terms, exports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose declined remarkably to $169K in 2022. Overall, exports, however, recorded significant growth. The pace of growth was the most pronounced in 2021 when exports increased by 441% against the previous year. As a result, the exports reached the peak of $285K, and then fell rapidly in the following year.

Top Export Markets for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose from Panama in 2022:

1. United States (184.6 tons)
2. Jamaica (9.8 tons)

Source: IndexBox Market Intelligence Platform