Panama - Avocados - Market Analysis, Forecast, Size, Trends and Insights
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Avocado Market Size in Panama
For the fourth consecutive year, the Panamanian avocado market recorded growth in sales value, which increased by X% to $X in 2022. Overall, consumption enjoyed a buoyant increase. Avocado consumption peaked in 2022 and is likely to see gradual growth in years to come.
Avocado Production in Panama
In value terms, avocado production expanded slightly to $X in 2022 estimated in export price. Over the period under review, production recorded strong growth. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.
The average yield of avocados in Panama contracted modestly to X tons per ha in 2022, remaining relatively unchanged against the year before. Over the period under review, the yield indicated strong growth from 2012 to 2022: its figure increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, avocado yield decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the yield increased by X% against the previous year. As a result, the yield reached the peak level of X tons per ha. From 2020 to 2022, the growth of the average avocado yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2022, approx. X ha of avocados were harvested in Panama; increasing by X% on the previous year. Overall, the harvested area, however, saw a slight downturn. The pace of growth appeared the most rapid in 2020 when the harvested area increased by X% against the previous year. The avocado harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.
Avocado Exports
Exports from Panama
In 2022, avocado exports from Panama fell markedly to X kg, declining by X% compared with the previous year. In general, exports saw a dramatic setback. The exports peaked at X kg in 2021, and then reduced rapidly in the following year.
In value terms, avocado exports reduced sharply to $X in 2022. Over the period under review, exports showed a dramatic downturn. Over the period under review, the exports attained the peak figure at $X in 2021, and then fell markedly in the following year.
Exports by Country
Aruba (X kg) was the main destination for avocado exports from Panama, with a X% share of total exports. Moreover, avocado exports to Aruba exceeded the volume sent to the second major destination, Slovakia (X kg), twofold. Germany (X kg) ranked third in terms of total exports with an X% share.
From 2021 to 2022, the average annual growth rate of volume to Aruba was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (X% per year) and Germany (X% per year).
In value terms, the largest markets for avocado exported from Panama were Slovakia ($X), Aruba ($X) and Germany ($X), together accounting for X% of total exports.
Among the main countries of destination, Germany, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
The average avocado export price stood at $X per ton in 2022, growing by X% against the previous year. Over the period from 2021 to 2022, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ireland ($X per ton), while the average price for exports to Bahamas ($X per ton) was amongst the lowest.
From 2021 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (X%).
Avocado Imports
Imports into Panama
In 2022, supplies from abroad of avocados decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2021, and then shrank modestly in the following year.
In value terms, avocado imports dropped modestly to $X in 2022. Over the period under review, imports, however, saw significant growth. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2021, and then fell in the following year.
Imports by Country
In 2022, the Dominican Republic (X tons) constituted the largest avocado supplier to Panama, with a X% share of total imports. Moreover, avocado imports from the Dominican Republic exceeded the figures recorded by the second-largest supplier, Colombia (X tons), more than tenfold. Peru (X tons) ranked third in terms of total imports with a X% share.
From 2013 to 2022, the average annual growth rate of volume from the Dominican Republic totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (X% per year) and Peru (X% per year).
In value terms, the Dominican Republic ($X) constituted the largest supplier of avocados to Panama, comprising X% of total imports. The second position in the ranking was held by Mexico ($X), with an X% share of total imports. It was followed by Colombia, with a X% share.
From 2013 to 2022, the average annual rate of growth in terms of value from the Dominican Republic stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (X% per year) and Colombia (X% per year).
Import Prices by Country
The average avocado import price stood at $X per ton in 2022, standing approx. at the previous year. Over the period under review, the import price recorded a deep downturn. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Mexico ($X per ton), while the price for Free Zones ($X per ton) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the prices for the other major suppliers experienced mixed trend patterns.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the avocado 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 572 - Avocados
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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