Panama: Market for Condensed Or Evaporated Milk (Unsweetened) 2024

Market Size for Condensed Or Evaporated Milk (Unsweetened) in Panama

The Panamanian market for condensed or evaporated milk (unsweetened) totaled $X in 2022, growing by X% against the previous year. Over the period under review, consumption, however, showed a mild contraction. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Condensed Or Evaporated Milk (Unsweetened) in Panama

In value terms, unsweetened condensed and evaporated milk production reached $X in 2022 estimated in export price. In general, production, however, showed a perceptible contraction. The growth pace was the most rapid in 2020 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports from Panama

In 2022, unsweetened condensed and evaporated milk exports from Panama shrank notably to X tons, with a decrease of X% on 2021. Over the period under review, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, unsweetened condensed and evaporated milk exports fell markedly to $X in 2022. Overall, exports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Honduras (X tons), Nicaragua (X tons) and Guatemala (X tons) were the main destinations of unsweetened condensed and evaporated milk exports from Panama, together accounting for X% of total exports. El Salvador and Cuba lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Cuba (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for unsweetened condensed and evaporated milk exported from Panama were Honduras ($X), Nicaragua ($X) and Guatemala ($X), together comprising X% of total exports. El Salvador and Cuba lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Cuba, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for condensed or evaporated milk (unsweetened) stood at $X per ton in 2022, growing by X% against the previous year. Overall, the export price, however, saw a pronounced decline. The pace of growth was the most pronounced in 2013 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to El Salvador ($X per ton) and Nicaragua ($X per ton), while the average price for exports to Cuba ($X per ton) and Guatemala ($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 Nicaragua (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports into Panama

In 2022, approx. X kg of condensed or evaporated milk (unsweetened) were imported into Panama; falling by X% against the year before. Over the period under review, imports continue to indicate a precipitous descent. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, unsweetened condensed and evaporated milk imports shrank notably to $X in 2022. In general, imports continue to indicate a dramatic curtailment. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Free Zones (X kg) was the main unsweetened condensed and evaporated milk supplier to Panama, accounting for a approx. X% share of total imports.

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

In value terms, Free Zones ($X) constituted the largest supplier of condensed or evaporated milk (unsweetened) to Panama.

From 2012 to 2022, the average annual growth rate of value from Free Zones was relatively modest.

Import Prices by Country

In 2022, the average import price for condensed or evaporated milk (unsweetened) amounted to $X per ton, dropping by X% against the previous year. Overall, the import price faced a drastic downturn. The most prominent rate of growth was recorded in 2019 an increase of X%. The import price peaked at $X per ton in 2021, and then dropped significantly in the following year.

As there is only one major supplying country, the average price level is determined by prices for Free Zones.

From 2012 to 2022, the rate of growth in terms of prices for Costa Rica amounted to X% per year.

Source: IndexBox Platform

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