Report Update Apr 1, 2024

Panama - Cherries and Sour Cherries - Market Analysis, Forecast, Size, Trends and Insights

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Panama: Market for Cherries and Sour Cherries 2024

Market Size for Cherries and Sour Cherries in Panama

After two years of growth, the Panamanian cherry and sour cherry market decreased by X% to $X in 2022. In general, consumption, however, posted a strong expansion. As a result, consumption reached the peak level of $X, and then declined rapidly in the following year.

Production of Cherries and Sour Cherries in Panama

In value terms, cherry and sour cherry production amounted to $X in 2022 estimated in export price. In general, production showed a significant contraction. The growth pace was the most rapid in 2013 when the production volume decreased by X%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

The average yield of cherries and sour cherries in Panama totaled less than X kg per ha in 2022, standing approx. at the year before. Over the period under review, the yield recorded a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of cherries and sour cherries in Panama was estimated at less than X ha, almost unchanged from 2021 figures. In general, the harvested area showed a relatively flat trend pattern.

Exports of Cherries and Sour Cherries

Exports from Panama

In 2014, approx. X kg of cherries and sour cherries were exported from Panama; remaining relatively unchanged against the year before. Overall, exports recorded a dramatic decrease. The smallest decline of X% was in 2013. The exports peaked at X kg in 2012; however, from 2013 to 2014, the exports remained at a lower figure.

In value terms, cherry and sour cherry exports stood at $X in 2014. Over the period under review, exports continue to indicate a precipitous contraction. The smallest decline of X% was in 2013. The exports peaked at $X in 2012; however, from 2013 to 2014, the exports stood at a somewhat lower figure.

Exports by Country

Hong Kong SAR (X kg) was the main destination for cherry and sour cherry exports from Panama, with a X% share of total exports. Moreover, cherry and sour cherry exports to Hong Kong SAR exceeded the volume sent to the second major destination, Guyana (X kg), more than tenfold.

From 2012 to 2014, the average annual rate of growth in terms of volume to Hong Kong SAR was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Guyana (X% per year) and Belgium (X% per year).

From 2012 to 2014, the average annual growth rate of value to Hong Kong SAR was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Guyana (X% per year) and Belgium (X% per year).

Export Prices by Country

The average cherry and sour cherry export price stood at $X per ton in 2014, approximately equating the previous year. In general, the export price posted significant growth. The pace of growth appeared the most rapid in 2013 when the average export price decreased by X%. The export price peaked in 2014 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Guyana ($X per ton) was amongst the lowest.

From 2012 to 2014, the most notable rate of growth in terms of prices was recorded for supplies to Guyana (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cherries and Sour Cherries

Imports into Panama

In 2022, after two years of growth, there was significant decline in purchases abroad of cherries and sour cherries, when their volume decreased by X% to X tons. In general, imports, however, showed strong growth. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. Imports peaked at X tons in 2021, and then declined remarkably in the following year.

In value terms, cherry and sour cherry imports fell rapidly to $X in 2022. Over the period under review, imports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of $X, and then reduced rapidly in the following year.

Imports by Country

In 2022, Chile (X tons) constituted the largest supplier of cherry and sour cherry to Panama, with a X% share of total imports. Moreover, cherry and sour cherry imports from Chile exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold.

From 2013 to 2022, the average annual rate of growth in terms of volume from Chile amounted to X%.

In value terms, Chile ($X) constituted the largest supplier of cherries and sour cherries to Panama, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports.

From 2013 to 2022, the average annual rate of growth in terms of value from Chile totaled X%.

Import Prices by Country

The average cherry and sour cherry import price stood at $X per ton in 2022, which is down by X% against the previous year. Overall, the import price recorded a pronounced decline. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Chile totaled $X per ton.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for cherries and sour cherries in the world?

Turkey constituted the country with the largest volume of cherry and sour cherry consumption, accounting for 20% of total volume. Moreover, cherry and sour cherry consumption in Turkey exceeded the figures recorded by the second-largest consumer, China, twofold. Russia ranked third in terms of total consumption with a 9.1% share.

What are the largest producers of cherries and sour cherries in the world?

Turkey remains the largest cherry and sour cherry producing country worldwide, comprising approx. 21% of total volume. Moreover, cherry and sour cherry production in Turkey exceeded the figures recorded by the second-largest producer, Chile, twofold. The United States ranked third in terms of total production with an 8.8% share.

What are the leading suppliers of cherries and sour cherries to Panama?

In value terms, Chile constituted the largest supplier of cherries and sour cherries to Panama, comprising 67% of total imports. The second position in the ranking was taken by the United States, with a 32% share of total imports.

What is the average export price for cherries and sour cherries in Panama?

In 2014, the average cherry and sour cherry export price amounted to $4,683 per ton, remaining constant against the previous year.

What is the average import price for cherries and sour cherries in Panama?

In 2022, the average cherry and sour cherry import price amounted to $5,529 per ton, dropping by -2.4% against the previous year.

This report provides an in-depth analysis of the market for cherry and sour cherry 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 530 - Sour cherries
FCL 531 - Cherries

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. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. 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, HARVESTED AREA AND YIELD
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. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023