Price for Butter and Other Fats and Oils Derived from Milk in Panama - 2023
Contents:
- Price for Butter and Other Fats and Oils Derived from Milk in Panama (CIF) - 2023
- Price for Butter and Other Fats and Oils Derived from Milk in Panama (FOB) - 2022
- Imports of Butter and Other Fats and Oils Derived from Milk in Panama
- Exports of Butter and Other Fats and Oils Derived from Milk in Panama
Price for Butter and Other Fats and Oils Derived from Milk in Panama (CIF) - 2023
The average import price for butter and other fats and oils derived from milk stood at $6,254 per ton in September 2023, picking up by 2.3% against the previous month. Over the period under review, the import price, however, recorded a slight decrease. The most prominent rate of growth was recorded in April 2023 an increase of 3.8% month-to-month. The import price peaked at $7,152 per ton in December 2022; however, from January 2023 to September 2023, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was France ($10,553 per ton), while the price for New Zealand ($5,894 per ton) was amongst the lowest.
From November 2022 to September 2023, the most notable rate of growth in terms of prices was attained by France (+3.0%), while the prices for the other major suppliers experienced a decline.
Price for Butter and Other Fats and Oils Derived from Milk in Panama (FOB) - 2022
The average export price for butter and other fats and oils derived from milk stood at $4,674 per ton in 2022, remaining constant against the previous year. Overall, the export price recorded a abrupt descent. The pace of growth was the most pronounced in 2017 when the average export price increased by 39%. Over the period under review, the average export prices reached the peak figure at $9,428 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for the United States.
From 2012 to 2022, the rate of growth in terms of prices for Colombia amounted to +2.2% per year.
Imports of Butter and Other Fats and Oils Derived from Milk in Panama
In 2022, approx. 2.7K tons of butter and other fats and oils derived from milk were imported into Panama; shrinking by -24.8% on the previous year's figure. Overall, total imports indicated a slight expansion from 2019 to 2022: its volume increased at an average annual rate of +1.3% 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 +16.1% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 54%. As a result, imports attained the peak of 3.6K tons, and then fell sharply in the following year.
In value terms, imports of butter and other fats and oils derived from milk reduced modestly to $19M in 2022. Over the period under review, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +8.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +52.6% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 54%. As a result, imports reached the peak of $19M, leveling off in the following year.
| Import of Butter and Other Fats and Oils Derived from Milk in Panama (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 8.3 | 6.1 | 10.3 | 11.1 | 10.2% |
| United States | 3.2 | 2.1 | 4.5 | 4.8 | 14.5% |
| Denmark | 1.3 | 1.1 | 1.4 | 1.4 | 2.5% |
| Belgium | N/A | 0.3 | 0.6 | 0.7 | 52.8% |
| France | 0.6 | 1.1 | 0.6 | 0.6 | 0.0% |
| Chile | N/A | 1.0 | 0.5 | N/A | -50.0% |
| Others | 1.0 | 0.4 | 0.8 | 0.1 | -53.6% |
| Total | 14.4 | 12.1 | 18.7 | 18.5 | 8.7% |
Top Suppliers of Butter and Other Fats and Oils Derived from Milk to Panama in 2022:
- New Zealand (1660.1 tons)
- United States (693.2 tons)
- Denmark (161.5 tons)
- Belgium (87.8 tons)
- France (72.4 tons)
Exports of Butter and Other Fats and Oils Derived from Milk in Panama
In 2022, shipments abroad of butter and other fats and oils derived from milk decreased by 0% to 6.5 tons, falling for the second year in a row after two years of growth. In general, exports posted modest growth. The pace of growth was the most pronounced in 2020 with an increase of 107% against the previous year. As a result, the exports attained the peak of 13 tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
In value terms, exports of butter and other fats and oils derived from milk amounted to $31K in 2022. Over the period under review, exports saw a noticeable contraction. The most prominent rate of growth was recorded in 2020 with an increase of 80%. As a result, the exports attained the peak of $61K. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
| Export of Butter and Other Fats and Oils Derived from Milk in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 0.8 | 42.2 | N/A | 22.7 | 205.0% |
| Colombia | 7.5 | N/A | N/A | N/A | 0% |
| Curacao | 1.6 | 0.6 | N/A | N/A | -62.5% |
| Belize | 3.4 | N/A | N/A | N/A | 0% |
| Jamaica | 2.8 | 4.8 | N/A | N/A | 71.4% |
| Others | 17.8 | 13.6 | N/A | 7.9 | -23.7% |
| Total | 33.9 | 61.2 | N/A | 30.6 | -3.4% |
Top Export Markets for Butter and Other Fats and Oils Derived from Milk from Panama in 2022:
- United States (4.9 tons)
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