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Panama - Frozen Crustaceans - Market Analysis, Forecast, Size, Trends And Insights
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View PricingFrozen Crustaceans Price in Panama - 2023
Contents:
- Frozen Crustaceans Price in Panama (FOB) - 2023
- Frozen Crustaceans Price in Panama (CIF) - 2023
- Frozen Crustaceans Exports in Panama
- Frozen Crustaceans Imports in Panama
Frozen Crustaceans Price in Panama (FOB) - 2023
The average frozen crustaceans export price stood at $6,836 per ton in July 2023, with a decrease of -12.9% against the previous month. Over the period under review, export price indicated slight growth from July 2022 to July 2023: its price increased at an average monthly rate of +1.6% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on July 2023 figures, frozen crustaceans export price increased by +222.2% against May 2023 indices. The most prominent rate of growth was recorded in June 2023 when the average export price increased by 270% against the previous month. As a result, the export price attained the peak level of $7,849 per ton, and then reduced in the following month.
Prices varied noticeably by the country of destination: the country with the highest price was the United States ($15,611 per ton), while the average price for exports to Spain ($5,330 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+5.4%), while the prices for the other major destinations experienced more modest paces of growth.
Frozen Crustaceans Price in Panama (CIF) - 2023
The average frozen crustaceans import price stood at $6,516 per ton in July 2023, declining by -8.4% against the previous month. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in November 2022 an increase of 66% against the previous month. As a result, import price attained the peak level of $12,986 per ton. From December 2022 to July 2023, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Argentina ($20,138 per ton), while the price for China ($5,040 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Argentina (+4.9%), while the prices for the other major suppliers experienced mixed trend patterns.
Frozen Crustaceans Exports in Panama
In 2022, frozen crustaceans exports from Panama surged to 12K tons, picking up by 116% on the year before. Over the period under review, exports saw a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, frozen crustaceans exports skyrocketed to $69M in 2022. Overall, exports posted a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 117%. The exports peaked in 2022 and are expected to retain growth in years to come.
Export of Frozen Crustaceans in Panama (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Taiwan (Chinese) | 4.9 | 3.8 | 13.5 | 51.1 | 118.5% |
United States | 12.0 | 6.3 | 10.3 | 9.8 | -6.5% |
Spain | 5.8 | 2.3 | 4.2 | 2.1 | -28.7% |
Italy | 4.9 | 2.4 | 3.3 | 1.7 | -29.7% |
Denmark | 2.0 | 1.3 | 4.5 | 0.9 | -23.4% |
France | 1.7 | N/A | 1.0 | 0.8 | -22.2% |
Belgium | N/A | 0.2 | 0.3 | 0.8 | 100.0% |
Others | 3.0 | 1.4 | 1.5 | 1.4 | -22.4% |
Total | 34.3 | 17.8 | 38.7 | 68.7 | 26.1% |
Top Export Markets for Frozen Crustaceans from Panama in 2022:
- Taiwan (Chinese) (9.7K tons)
- United States (1.1K tons)
- Spain (0.5K tons)
- Italy (0.3K tons)
- Denmark (0.2K tons)
- France (0.2K tons)
- Belgium (0.2K tons)
Frozen Crustaceans Imports in Panama
In 2022, approx. 444 tons of frozen crustaceans were imported into Panama; with a decrease of -4% compared with the year before. Overall, total imports indicated a measured expansion from 2019 to 2022: its volume increased at an average annual rate of +3.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +94.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 103%. As a result, imports attained the peak of 462 tons, and then reduced modestly in the following year.
In value terms, frozen crustaceans imports fell slightly to $3.7M in 2022. Over the period under review, imports, however, recorded a prominent expansion. The pace of growth was the most pronounced in 2021 with an increase of 108%. As a result, imports reached the peak of $3.8M, and then fell in the following year.
Import of Frozen Crustaceans in Panama (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 682 | 123 | 701 | 2,117 | 45.9% |
Peru | 1,562 | 1,217 | 2,187 | 844 | -18.6% |
Vietnam | 10.2 | N/A | 38.5 | 308 | 211.4% |
Indonesia | 251 | 228 | 539 | 208 | -6.1% |
United States | 258 | 183 | 93.9 | 132 | -20.0% |
Others | 203 | 56.7 | 201 | 90.2 | -23.7% |
Total | 2,966 | 1,808 | 3,761 | 3,698 | 7.6% |
Top Suppliers of Frozen Crustaceans to Panama in 2022:
- China (268.7 tons)
- Peru (99.5 tons)
- Vietnam (38.6 tons)
- Indonesia (15.9 tons)
- United States (13.8 tons)
This report provides an in-depth analysis of the frozen crustaceans 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:
- Prodcom 10203100 - Frozen crustaceans, frozen flours, meals and pellets of crustaceans, fit for human consumption
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
-
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
- 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 VOLUME AND VALUE
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
- 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
- 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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This year, the average annual shrimp price is forecast to soar by 7% y-o-y to $15 per kg. High freight rates, the rising cost of marine fuels and boosting global demand for crustaceans remain the key reasons for the price increases. In 2021, the average annual shrimp price ($12.7 per kg) was approximately 10% higher than those of 2020.
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Explore the top import markets for frozen crustaceans, including the United States, China, and Japan. Find key statistics and insights on the global market for these delectable seafood delicacies.
This year, the average annual shrimp price is forecast to soar by 7% y-o-y to $15 per kg. High freight rates, the rising cost of marine fuels and boosting global demand for crustaceans remain the key reasons for the price increases. In 2021, the average annual shrimp price ($12.7 per kg) was approximately 10% higher than those of 2020.