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Panama - Bananas and Plantains - Market Analysis, Forecast, Size, Trends and Insights
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Banana And Plantain Market Size in Panama
After two years of decline, the Panamanian banana and plantain market increased by X% to $X in 2022. Over the period under review, consumption, however, recorded a pronounced downturn. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.
Banana And Plantain Production in Panama
In value terms, banana and plantain production fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.
The average yield of bananas and plantains in Panama reached X tons per ha in 2022, almost unchanged from the previous year's figure. In general, the yield, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the average banana and plantain yield hit record highs at X tons per ha in 2018; however, from 2019 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2022, the harvested area of bananas and plantains in Panama shrank modestly to X ha, remaining constant against the year before. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to banana and plantain production attained the peak figure at X ha in 2019; however, from 2020 to 2022, the harvested area remained at a lower figure.
Banana And Plantain Exports
Exports from Panama
In 2022, after five years of growth, there was significant decline in shipments abroad of bananas and plantains, when their volume decreased by X% to X tons. Overall, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2013 with an increase of X,344% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2021, and then declined significantly in the following year.
In value terms, banana and plantain exports contracted significantly to $X in 2022. Over the period under review, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2013 with an increase of X,423% against the previous year. The exports peaked at $X in 2021, and then shrank dramatically in the following year.
Exports by Country
The Netherlands (X tons) was the main destination for banana and plantain exports from Panama, accounting for a X% share of total exports. Moreover, banana and plantain exports to the Netherlands exceeded the volume sent to the second major destination, the United States (X tons), fivefold. The UK (X tons) ranked third in terms of total exports with an X% share.
From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and the UK (X% per year).
In value terms, the Netherlands ($X) remains the key foreign market for bananas and plantains exports from Panama, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by the UK, with a X% share.
From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and the UK (X% per year).
Export Prices by Country
The average banana and plantain export price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the UK ($X per ton) and the Netherlands ($X per ton), while the average price for exports to Hong Kong SAR ($X per ton) and the United States ($X per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (X%), while the prices for the other major destinations experienced mixed trend patterns.
Banana And Plantain Imports
Imports into Panama
In 2022, supplies from abroad of bananas and plantains increased by X% to X tons for the first time since 2018, thus ending a three-year declining trend. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.
In value terms, banana and plantain imports surged to $X in 2022. In general, imports showed a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.
Imports by Country
In 2022, the United States (X tons) was the main supplier of banana and plantain to Panama, with a X% share of total imports. Moreover, banana and plantain imports from the United States exceeded the figures recorded by the second-largest supplier, Costa Rica (X kg), more than tenfold.
From 2014 to 2022, the average annual growth rate of volume from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Costa Rica (X% per year) and Colombia (X% per year).
In value terms, the United States ($X) constituted the largest supplier of bananas and plantains to Panama, comprising X% of total imports. The second position in the ranking was held by Colombia ($X), with a X% share of total imports.
From 2014 to 2022, the average annual rate of growth in terms of value from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (X% per year) and Costa Rica (X% per year).
Import Prices by Country
The average banana and plantain import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the import price saw buoyant growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Costa Rica ($X per ton) was amongst the lowest.
From 2014 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (X%), while the prices for the other major suppliers experienced more modest paces of growth.
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the banana and plantain 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:
- FCL 486 - Bananas
- FCL 489 - Plantains
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
- COUNTRIES WITH TOP YIELDS
- 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, HARVESTED AREA AND YIELD
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
- Yield 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
- Area Harvested, 2012–2023
- Yield, 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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