Report Update May 1, 2024

Panama - Olive Oil (Virgin) - Market Analysis, Forecast, Size, Trends and Insights

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Panama: Virgin Olive Oil Market 2024

Virgin Olive Oil Market Size in Panama

In 2022, after four years of decline, there was significant growth in the Panamanian virgin olive oil market, when its value increased by X% to $X. In general, consumption, however, saw a sharp descent. Virgin olive oil consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Virgin Olive Oil Exports

Exports from Panama

Virgin olive oil exports from Panama totaled X tons in 2015, approximately reflecting 2014 figures. Over the period under review, exports showed a precipitous slump. The smallest decline of X% was in 2013. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2015, the exports remained at a lower figure.

In value terms, virgin olive oil exports amounted to $X in 2015. In general, exports continue to indicate a dramatic decrease. The smallest decline of X% was in 2013. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2015, the exports remained at a lower figure.

Exports by Country

Costa Rica (X kg) was the main destination for virgin olive oil exports from Panama, accounting for a X% share of total exports. Moreover, virgin olive oil exports to Costa Rica exceeded the volume sent to the second major destination, Canada (X kg), ninefold.

From 2012 to 2015, the average annual rate of growth in terms of volume to Costa Rica stood at X%.

From 2012 to 2015, the average annual rate of growth in terms of value to Costa Rica stood at X%.

Export Prices by Country

In 2015, the average virgin olive oil export price amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2015, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while the average price for exports to Canada totaled $X per ton.

From 2012 to 2015, the most notable rate of growth in terms of prices was recorded for supplies to Costa Rica (X%).

Virgin Olive Oil Imports

Imports into Panama

In 2022, after two years of decline, there was significant growth in supplies from abroad of virgin olive oil, when their volume increased by X% to X tons. Overall, imports saw a significant expansion. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, virgin olive oil imports soared to $X in 2022. Over the period under review, imports posted significant growth. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Spain (X tons) constituted the largest virgin olive oil supplier to Panama, accounting for a X% share of total imports. Moreover, virgin olive oil imports from Spain exceeded the figures recorded by the second-largest supplier, Italy (X tons), eightfold. The third position in this ranking was held by Greece (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Greece (X% per year).

In value terms, Spain ($X) constituted the largest supplier of virgin olive oil to Panama, comprising X% of total imports. The second position in the ranking was held by Italy ($X), with an X% share of total imports. It was followed by Greece, with a X% share.

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

Import Prices by Country

The average virgin olive oil import price stood at $X per ton in 2022, flattening at the previous year. Over the period under review, import price indicated resilient growth from 2012 to 2022: its price 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, virgin olive oil import price increased by X% against 2019 indices. The growth pace was the most rapid in 2013 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Italy ($X per ton) and Spain ($X per ton), while the price for Greece ($X per ton) and the United States ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for virgin olive oil in the world?

The countries with the highest volumes of consumption in 2023 were Spain, Italy and Turkey, together accounting for 47% of global consumption.

What are the largest producers of virgin olive oil in the world?

Spain constituted the country with the largest volume of virgin olive oil production, accounting for 39% of total volume. Moreover, virgin olive oil production in Spain exceeded the figures recorded by the second-largest producer, Tunisia, fourfold. The third position in this ranking was taken by Italy, with a 9.9% share.

What are the leading suppliers of virgin olive oil to Panama?

In value terms, Spain constituted the largest supplier of virgin olive oil to Panama, comprising 82% of total imports. The second position in the ranking was taken by Italy, with an 11% share of total imports. It was followed by Greece, with a 4.4% share.

What is the average export price for virgin olive oil in Panama?

In 2015, the average virgin olive oil export price amounted to $4,895 per ton, flattening at the previous year.

What is the average import price for virgin olive oil in Panama?

In 2022, the average virgin olive oil import price amounted to $5,588 per ton, approximately mirroring the previous year.

This report provides an in-depth analysis of the virgin olive oil 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 261 - Oil of Olives, Virgin

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. TOP EXPORTING COUNTRIES
4. 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 VOLUME AND VALUE
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. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023