Panama - Vegetable - Market Analysis, Forecast, Size, Trends and Insights
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View PricingVegetable Price in Panama - 2023
Contents:
- Vegetable Price in Panama (CIF) - 2022
- Vegetable Price in Panama (FOB) - 2022
- Vegetable Imports in Panama
- Vegetable Exports in Panama
Vegetable Price in Panama (CIF) - 2022
The average vegetable import price stood at $1,260 per ton in 2022, jumping by 24% against the previous year. In general, import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vegetable import price increased by +76.8% against 2018 indices. The pace of growth appeared the most rapid in 2013 when the average import price increased by 26% against the previous year. Over the period under review, average import prices reached the peak figure at $1,406 per ton in 2014; however, from 2015 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 Peru ($2,141 per ton), while the price for Spain ($630 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 (+12.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Vegetable Price in Panama (FOB) - 2022
The average vegetable export price stood at $456 per ton in 2022, with an increase of 5% against the previous year. In general, the export price, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2014 an increase of 62%. The export price peaked at $2,269 per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.
Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Venezuela ($652 per ton) and Spain ($537 per ton), while the average price for exports to the United States ($448 per ton) and the Netherlands ($476 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 Spain (+9.1%), while the prices for the other major destinations experienced mixed trend patterns.
Vegetable Imports in Panama
For the third year in a row, Panama recorded decline in purchases abroad of vegetables, which decreased by -24.4% to 33K tons in 2022. Over the period under review, imports showed a abrupt decline. The smallest decline of -1% was in 2021.
In value terms, vegetable imports contracted to $41M in 2022. The total import value increased at an average annual rate of +6.6% from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 15% against the previous year. As a result, imports reached the peak of $44M, and then contracted in the following year.
| Import of Vegetable in Panama (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 6.0 | 10.6 | 8.7 | 13.7 | 31.7% |
| United States | 17.5 | 15.3 | 18.5 | 12.1 | -11.6% |
| China | 4.2 | 5.4 | 7.2 | 6.3 | 14.5% |
| Spain | 0.7 | 2.2 | 2.3 | 3.1 | 64.2% |
| Peru | 1.6 | 1.4 | 2.0 | 2.0 | 7.7% |
| Costa Rica | 0.9 | 0.6 | 1.2 | 1.1 | 6.9% |
| Chile | 1.2 | 0.1 | 0.1 | N/A | -71.1% |
| Others | 1.9 | 2.6 | 3.8 | 2.7 | 12.4% |
| Total | 34.0 | 38.2 | 43.9 | 41.1 | 6.5% |
Top Suppliers of Vegetable to Panama in 2022:
- Chile (undefinedK tons)
- Canada (11.2K tons)
- United States (8.9K tons)
- Spain (4.9K tons)
- China (3.9K tons)
- Costa Rica (1.1K tons)
- Peru (0.9K tons)
Vegetable Exports in Panama
In 2022, vegetable exports from Panama declined markedly to 6.6K tons, reducing by -31% compared with the previous year. Over the period under review, total exports indicated a tangible increase from 2019 to 2022: its volume increased at an average annual rate of +3.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +21.4% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 76%. As a result, the exports reached the peak of 9.6K tons, and then contracted notably in the following year.
In value terms, vegetable exports fell remarkably to $3M in 2022. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 66% against the previous year. As a result, the exports reached the peak of $4.2M, and then shrank significantly in the following year.
| Export of Vegetable in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1,551 | 999 | 1,885 | 2,800 | 21.8% |
| Spain | 1,189 | 1,014 | 2,013 | 59.9 | -63.1% |
| Netherlands | 22.5 | 23.2 | 72.5 | 59.4 | 38.2% |
| Others | 294 | 479 | 210 | 111 | -27.7% |
| Total | 3,056 | 2,515 | 4,181 | 3,030 | -0.3% |
Top Export Markets for Vegetable from Panama in 2022:
- United States (6.2K tons)
- Netherlands (0.1K tons)
- Spain (0.1K tons)
This report provides an in-depth analysis of the vegetable 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 116 - Potatoes
- FCL 388 - Tomatoes, fresh
- FCL 402 - Onions, shallots (green)
- FCL 403 - Onions, dry
- FCL 406 - Garlic
- FCL 407 - Leeks and other alliaceous vegetables
- FCL 393 - Cauliflowers and broccoli
- FCL 372 - Lettuce and chicory
- FCL 426 - Carrot
- FCL 397 - Cucumbers and gherkins
- FCL 417 - Peas, green
- FCL 414 - Beans, green
- FCL 423 - String Beans
- FCL 367 - Asparagus
- FCL 399 - Eggplants
- FCL 401 - Chillies and peppers (green)
- FCL 373 - Spinach
- FCL 260 - Olives
- FCL 394 - Pumpkins, squash and gourds
- FCL 463 - Vegetables, Fresh n.e.s.
- FCL 446 - Green Corn (Maize)
- FCL 430 - Okra
- FCL 394 - Pumpkins, squash and gourds
- FCL 378 - Cassava leaves
- FCL 366 - Artichokes
- FCL 260 - Olives
- FCL 358 - Cabbages
- FCL 449 - Mushrooms
- FCL 366 - Artichokes
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
- COUNTRIES WITH TOP YIELDS
- 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, HARVESTED AREA AND YIELD
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
- Yield 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
- Area Harvested, 2012–2023
- Yield, 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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Vegetable imports play a crucial role in meeting the global demand for fresh produce throughout the year. Various countries rely on imported vegetables to supplement their domestic supply and offer a diverse range of produce to consumers. In this article, we will explore the top import markets for vegetables, based on the Import Value of Vegetable data provided by the IndexBox market intelligence platform. The United States holds the top position in terms of import value of vegetables, with a staggering $8.5 billion in 2022. Germany secures the second spot on the list with an import value of $5.8 billion in 2022. The United Kingdom is another significant player in the vegetable import market, with an import value of $3.4 billion in 2022. Canada relies on imports to supplement its domestic vegetable production, with an import value of $3.0 billion in 2022. France also represents a major import market for vegetables, with the same import value of $3.0 billion in 2022 as Canada. The Netherlands is not only a significant importer but also a major re-exporter of vegetables, with an import value of $2.5 billion in 2022. Belgium holds a prominent position in the vegetable import market, with an import value of $1.7 billion in 2022. Despite its vast agricultural land, Russia imports vegetables worth $1.3 billion in 2022. Spain relies on imports with an import value of $1.2 billion in 2022 to meet the demand for certain vegetables. Italy completes the list of the world's top import markets for vegetables with an import value of $1.2 billion in 2022. These top import markets for vegetables demonstrate the global dependence on imports to meet the diverse demands of consumers.
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The global vegetable market is expected to reach $1.7 trillion in 2030, growing with a CAGR of +3.1% from 2022 to 2030.
