Panama: Coconut Market 2024

Coconut Market Size in Panama

The Panamanian coconut market contracted to $X in 2022, waning by X% against the previous year. Over the period under review, the total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Coconut Production in Panama

In value terms, coconut production declined notably to $X in 2022 estimated in export price. In general, production, however, saw a notable increase. The most prominent rate of growth was recorded 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 lower figure.

In 2022, the average coconut yield in Panama amounted to X tons per ha, remaining constant against 2021 figures. Overall, the yield, however, saw a relatively flat trend pattern. The coconut yield peaked at X tons per ha in 2012; however, from 2013 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.

The coconut harvested area in Panama contracted to X ha in 2022, approximately reflecting 2021. The harvested area increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 with an increase of X%. The coconut harvested area peaked at X ha in 2021, and then fell modestly in the following year.

Coconut Exports

Exports from Panama

In 2022, exports of coconuts from Panama surged to X tons, with an increase of X% compared with 2021. In general, exports, however, recorded a sharp slump. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, coconut exports soared to $X in 2022. Over the period under review, exports, however, faced a sharp reduction. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Aruba (X tons) was the main destination for coconut exports from Panama, with a X% share of total exports. Moreover, coconut exports to Aruba exceeded the volume sent to the second major destination, Slovenia (X kg), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Aruba was relatively modest.

In value terms, the largest markets for coconut exported from Panama were Slovenia ($X) and Aruba ($X).

In terms of the main countries of destination, Aruba, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The average coconut export price stood at $X per ton in 2022, shrinking by X% against the previous year. Overall, the export price continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2014 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2021, and then dropped dramatically in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Slovenia ($X per ton), while the average price for exports to Aruba stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Slovenia (X%).

Coconut Imports

Imports into Panama

In 2022, coconut imports into Panama dropped to X tons, with a decrease of X% against the previous year's figure. In general, imports, however, posted a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, coconut imports contracted notably to $X in 2022. Over the period under review, imports, however, posted a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of X%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of coconut to Panama, with a X% share of total imports. Moreover, coconut imports from the United States exceeded the figures recorded by the second-largest supplier, Colombia (X tons), threefold. The third position in this ranking was taken by the Philippines (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (X% per year) and the Philippines (X% per year).

In value terms, the United States ($X) constituted the largest supplier of coconuts to Panama, comprising X% of total imports. The second position in the ranking was taken by Colombia ($X), with an X% share of total imports. It was followed by the Philippines, with a X% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (X% per year) and the Philippines (X% per year).

Import Prices by Country

The average coconut import price stood at $X per ton in 2022, waning by X% against the previous year. Overall, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, coconut import price decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ecuador ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 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.

Source: IndexBox Platform

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