Panama - Soups And Broths - Market Analysis, Forecast, Size, Trends And Insights
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View PricingSoups Price in Panama - 2023
Contents:
- Soups Price in Panama (CIF) - 2023
- Soups Price in Panama (FOB) - 2022
- Soups Imports in Panama
- Soups Exports in Panama
Soups Price in Panama (CIF) - 2023
In September 2023, the average soups import price amounted to $3,702 per ton, increasing by 13% against the previous month. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in December 2022 when the average import price increased by 28% m-o-m. The import price peaked at $3,966 per ton in March 2023; however, from April 2023 to September 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was Mexico ($5,774 per ton), while the price for China ($1,837 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Mexico (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Soups Price in Panama (FOB) - 2022
The average soups export price stood at $3,590 per ton in 2022, picking up by 41% against the previous year. Overall, the export price saw a slight expansion. The pace of growth appeared the most rapid in 2013 an increase of 95%. The export price peaked at $6,243 per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Costa Rica ($3,709 per ton), while the average price for exports to Curacao ($1,509 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Free Zones (+15.2%), while the prices for the other major destinations experienced mixed trend patterns.
Soups Imports in Panama
In 2022, after three years of growth, there was significant decline in purchases abroad of soups and broths, when their volume decreased by -17.9% to 5.2K tons. The total import volume increased at an average annual rate of +3.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 34%. As a result, imports reached the peak of 6.3K tons, and then contracted notably in the following year.
In value terms, soups imports fell modestly to $17M in 2022. Over the period under review, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +14.2% 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 +49.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 46% against the previous year. As a result, imports attained the peak of $17M, and then shrank slightly in the following year.
Import of Soups in Panama (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Mexico | 2.1 | 3.1 | 5.6 | 4.3 | 27.0% |
United States | 3.3 | 2.9 | 3.7 | 4.0 | 6.6% |
Peru | 1.9 | 1.1 | 2.0 | 2.7 | 12.4% |
Guatemala | 2.7 | 2.8 | 3.0 | 2.6 | -1.3% |
China | 0.3 | 0.6 | 0.6 | 1.0 | 49.4% |
El Salvador | 0.4 | 0.6 | 0.5 | 0.4 | 0.0% |
Indonesia | 0.1 | 0.2 | 0.6 | 0.1 | 0.0% |
Spain | 0.1 | 0.1 | 0.1 | 0.1 | 0.0% |
Others | 0.4 | 0.5 | 1.0 | 1.7 | 62.0% |
Total | 11.4 | 11.9 | 17.3 | 16.9 | 14.0% |
Top Suppliers of Soups to Panama in 2022:
- United States (1197.1 tons)
- Peru (1018.8 tons)
- Mexico (939.2 tons)
- Guatemala (897.2 tons)
- China (371.4 tons)
- El Salvador (93.0 tons)
- Spain (76.9 tons)
- Indonesia (24.3 tons)
Soups Exports in Panama
In 2022, overseas shipments of soups and broths decreased by -2.5% to 3.5 tons, falling for the second consecutive year after two years of growth. Over the period under review, exports recorded a sharp setback. The most prominent rate of growth was recorded in 2020 with an increase of 25%. As a result, the exports attained the peak of 32 tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, soups exports surged to $13K in 2022. Overall, exports saw a sharp downturn.
Export of Soups in Panama (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Costa Rica | N/A | 20.0 | 8.5 | 12.0 | -22.5% |
Colombia | 0.2 | 47.6 | N/A | 0.4 | 26.0% |
Curacao | 0.8 | 0.4 | N/A | 0.2 | -37.0% |
Cuba | 31.7 | N/A | N/A | N/A | 0% |
Others | 43.1 | 35.2 | 0.6 | N/A | -88.2% |
Total | 75.8 | 103 | 9.1 | 12.5 | -45.2% |
Top Export Markets for Soups from Panama in 2022:
- Costa Rica (3.2 tons)
- Curacao (0.1 tons)
- Colombia (0.1 tons)
This report provides an in-depth analysis of the soups 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 10891100 - Soups and broths and preparations therefor
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
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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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