Panama: Canned Food Market 2024

Canned Food Market Size in Panama

The Panamanian canned food market contracted to $X in 2022, dropping by X% against the previous year. In general, consumption recorded a abrupt setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Canned Food Production in Panama

In value terms, canned food production reduced to $X in 2022 estimated in export price. Overall, production recorded a abrupt curtailment. The growth pace was the most rapid in 2021 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Canned Food Exports

Exports from Panama

After four years of decline, shipments abroad of canned food increased by X% to X tons in 2022. In general, exports, however, faced a abrupt descent. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, canned food exports stood at $X in 2022. Over the period under review, exports, however, recorded a abrupt slump. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Trinidad and Tobago (X tons) was the main destination for canned food exports from Panama, with a X% share of total exports. Moreover, canned food exports to Trinidad and Tobago exceeded the volume sent to the second major destination, El Salvador (X tons), twofold. Nicaragua (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 Trinidad and Tobago was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (X% per year) and Nicaragua (X% per year).

In value terms, Trinidad and Tobago ($X) emerged as the key foreign market for canned food exports from Panama, comprising X% of total exports. The second position in the ranking was taken by El Salvador ($X), with a X% share of total exports. It was followed by Nicaragua, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Trinidad and Tobago amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (X% per year) and Nicaragua (X% per year).

Export Prices by Country

In 2022, the average canned food export price amounted to $X per ton, shrinking by X% against the previous year. Overall, the export price continues to indicate a noticeable descent. The most prominent rate of growth was recorded in 2014 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X 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 countries with the highest prices were Guyana ($X per ton) and Cuba ($X per ton), while the average price for exports to Peru ($X per ton) and Costa Rica ($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 Cuba (X%), while the prices for the other major destinations experienced a decline.

Canned Food Imports

Imports into Panama

In 2022, the amount of canned food imported into Panama shrank rapidly to X tons, falling by X% on 2021. Overall, imports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2017 when imports increased by X%. Imports peaked at X tons in 2021, and then contracted notably in the following year.

In value terms, canned food imports contracted to $X in 2022. In general, imports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of canned food to Panama, with a X% share of total imports. Moreover, canned food imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), fivefold. The third position in this ranking was held by Denmark (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Denmark (X% per year).

In value terms, the United States ($X) constituted the largest supplier of canned food to Panama, comprising X% of total imports. The second position in the ranking was held by Denmark ($X), with a X% share of total imports. It was followed by Mexico, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (X% per year) and Mexico (X% per year).

Import Prices by Country

The average canned food import price stood at $X per ton in 2022, growing by X% against the previous year. Overall, the import price, however, showed a noticeable descent. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Denmark ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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