Price for Protein; Concentrates and Textured Protein Substances in Panama - 2023

Contents:

1. Price for Protein; Concentrates and Textured Protein Substances in Panama (CIF) - 2023
2. Price for Protein; Concentrates and Textured Protein Substances in Panama (FOB) - 2022
3. Imports of Protein; Concentrates and Textured Protein Substances in Panama
4. Exports of Protein; Concentrates and Textured Protein Substances in Panama

Price for Protein; Concentrates and Textured Protein Substances in Panama (CIF) - 2023

The average import price for protein; concentrates and textured protein substanceses stood at $3,109 per ton in July 2023, with an increase of 33% against the previous month. Over the period from November 2022 to July 2023, it increased at an average monthly rate of +2.8%. The growth pace was the most rapid in May 2023 when the average import price increased by 45% m-o-m. Over the period under review, average import prices attained the peak figure at $3,230 per ton in February 2023; however, from March 2023 to July 2023, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was the United States ($3,541 per ton), while the price for Argentina ($1,772 per ton) was amongst the lowest.

From November 2022 to July 2023, the most notable rate of growth in terms of prices was attained by China (+22.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Protein; Concentrates and Textured Protein Substances in Panama (FOB) - 2022

In 2022, the average export price for protein; concentrates and textured protein substanceses amounted to $3,532 per ton, waning by -3.3% against the previous year. Over the period under review, the export price, however, recorded tangible growth. The pace of growth appeared the most rapid in 2018 when the average export price increased by 174% against the previous year. As a result, the export price attained the peak level of $6,733 per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Costa Rica.

From 2012 to 2022, the rate of growth in terms of prices for Trinidad and Tobago amounted to +38.0% per year.

Imports of Protein; Concentrates and Textured Protein Substances in Panama

In 2022, overseas purchases of protein; concentrates and textured protein substanceses increased by 14% to 1.9K tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, continue to indicate a abrupt decrease.

In value terms, imports of protein; concentrates and textured protein substanceses reduced sharply to $4.1M in 2022. Over the period under review, imports, however, continue to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 44%. As a result, imports reached the peak of $5.7M, and then contracted significantly in the following year.

Top Suppliers of Protein; Concentrates and Textured Protein Substances to Panama in 2022:

1. Brazil (618.3 tons)
2. Denmark (440.4 tons)
3. United States (415.5 tons)
4. China (305.6 tons)
5. Argentina (59.5 tons)
6. Mexico (40.5 tons)

Exports of Protein; Concentrates and Textured Protein Substances in Panama

In 2022, approx. 933 kg of protein; concentrates and textured protein substanceses were exported from Panama; dropping by -64.7% on 2021 figures. Overall, exports showed a sharp reduction. The smallest decline of -55.7% was in 2021.

In value terms, exports of protein; concentrates and textured protein substanceses declined markedly to $3.3K in 2022. Over the period under review, exports saw a sharp downturn. The smallest decline of -61.2% was in 2021.

Top Export Markets for Protein; Concentrates and Textured Protein Substances from Panama in 2022:

1. Costa Rica (921.0 kg)

Source: IndexBox Market Intelligence Platform