Onion Price in Panama - 2024
Contents:
- Onion Price in Panama (CIF) - 2022
- Onion Price in Panama (FOB) - 2022
- Onion Imports in Panama
- Onion Exports in Panama
Onion Price in Panama (CIF) - 2022
The average onion import price stood at $674 per ton in 2022, growing by 23% against the previous year. Overall, import price indicated a buoyant expansion from 2013 to 2022: its price increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, onion import price increased by +58.4% against 2016 indices. The most prominent rate of growth was recorded in 2016 an increase of 32% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($743 per ton), while the price for Spain ($629 per ton) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+16.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Onion Price in Panama (FOB) - 2022
In 2022, the average onion export price amounted to $238 per ton, shrinking by -87.4% against the previous year. In general, the export price recorded a abrupt decline. The most prominent rate of growth was recorded in 2016 when the average export price increased by 500%. As a result, the export price attained the peak level of $2,000 per ton. From 2017 to 2022, the average export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bahrain ($440 per ton), while the average price for exports to Senegal amounted to $211 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bahrain (-0.2%).
Onion Imports in Panama
In 2022, the amount of onions (dry) imported into Panama shrank remarkably to 8.1K tons, with a decrease of -42% on the year before. Overall, imports recorded a sharp decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 28% against the previous year.
In value terms, onion imports shrank significantly to $5.5M in 2022. In general, imports showed a abrupt decline. The most prominent rate of growth was recorded in 2021 when imports increased by 23%.
| Import of Onion in Panama (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | 0.7 | 2.1 | 2.3 | 3.1 | 64.2% |
| United States | 8.2 | 4.1 | 5.2 | 2.3 | -34.5% |
| Chile | 1.1 | N/A | 0.1 | N/A | -69.8% |
| Others | 0.1 | N/A | N/A | N/A | 0% |
| Total | 10.1 | 6.3 | 7.7 | 5.5 | -18.3% |
Top Suppliers of Onion to Panama in 2022:
- Spain (4.9K tons)
- United States (3.1K tons)
Onion Exports in Panama
Onion exports from Panama surged to 65 tons in 2022, picking up by 26,576% compared with 2021 figures. Over the period under review, exports saw a tangible increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, onion exports skyrocketed to $15K in 2022. Overall, exports, however, continue to indicate a abrupt decrease.
| Export of Onion in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Senegal | N/A | N/A | N/A | 12.6 | 0% |
| Bahrain | N/A | N/A | N/A | 1.8 | 0% |
| Guatemala | 20.8 | N/A | N/A | N/A | 0% |
| Others | N/A | 0.3 | 0.5 | 0.9 | 73.2% |
| Total | 20.8 | 0.3 | 0.5 | 15.3 | -9.7% |
Top Export Markets for Onion from Panama in 2022:
- Senegal (59.7 tons)
- Bahrain (4.2 tons)
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