Shrimp Price in Panama - 2023
Contents:
- Shrimp Price in Panama (FOB) - 2023
- Shrimp Price in Panama (CIF) - 2023
- Shrimp Exports in Panama
- Shrimp Imports in Panama
Shrimp Price in Panama (FOB) - 2023
In July 2023, the average shrimp export price amounted to $6,821 per ton, falling by -12.3% against the previous month. Over the period under review, the export price, however, posted noticeable growth. The growth pace was the most rapid in June 2023 an increase of 267% month-to-month. As a result, the export price reached the peak level of $7,779 per ton, and then dropped in the following month.
Prices varied noticeably by the country of destination: the country with the highest price was the United States ($12,085 per ton), while the average price for exports to Spain ($5,330 per ton) was amongst the lowest.
From November 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.
Shrimp Price in Panama (CIF) - 2023
The average shrimp import price stood at $6,709 per ton in July 2023, waning by -16.7% against the previous month. In general, the import price saw a abrupt slump. The growth pace was the most rapid in April 2023 when the average import price increased by 21% month-to-month. The import price peaked at $11,315 per ton in December 2022; however, from January 2023 to July 2023, import prices failed to regain momentum.
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 November 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Argentina (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Shrimp Exports in Panama
In 2022, approx. 12K tons of shrimps were exported from Panama; growing by 117% against 2021 figures. Over the period under review, exports enjoyed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, shrimp exports surged to $68M in 2022. In general, exports posted a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 118%. The exports peaked in 2022 and are expected to retain growth in years to come.
| Export of Shrimp 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 | 11.6 | 5.9 | 9.7 | 9.4 | -6.8% |
| 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 | 2.1 | 1.3 | 1.3 | 1.3 | -14.8% |
| Total | 33.1 | 17.3 | 37.8 | 68.2 | 27.2% |
Top Export Markets for Shrimp 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)
Shrimp Imports in Panama
Shrimp imports into Panama declined notably to 622 tons in 2022, with a decrease of -33.7% against 2021. In general, imports recorded a deep slump. The pace of growth was the most pronounced in 2021 with an increase of 106%. As a result, imports attained the peak of 938 tons, and then plummeted in the following year.
In value terms, shrimp imports declined rapidly to $5.3M in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 100% against the previous year. As a result, imports reached the peak of $7.2M, and then contracted remarkably in the following year.
| Import of Shrimp in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1,993 | 992 | 2,889 | 2,732 | 11.1% |
| Peru | 1,562 | 1,217 | 2,187 | 844 | -18.6% |
| Nicaragua | 722 | 443 | 518 | 799 | 3.4% |
| Vietnam | 218 | 210 | 95.7 | 328 | 14.6% |
| United States | 467 | 345 | 330 | 300 | -13.7% |
| Indonesia | 191 | 228 | 711 | 211 | 3.4% |
| Spain | 29.9 | 60.5 | 130 | 80.5 | 39.1% |
| Others | 43.0 | 103 | 319 | 22.0 | -20.0% |
| Total | 5,226 | 3,598 | 7,180 | 5,317 | 0.6% |
Top Suppliers of Shrimp to Panama in 2022:
- China (325.1 tons)
- Peru (99.5 tons)
- Nicaragua (86.0 tons)
- Vietnam (39.8 tons)
- United States (39.4 tons)
- Indonesia (16.7 tons)
- Spain (14.4 tons)
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