Panama: Potato Chips Market 2024

Potato Chips Market Size in Panama

The Panamanian potato chips market reduced to $X in 2022, shrinking by X% against the previous year. In general, consumption saw a perceptible decline. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Potato Chips Production in Panama

In value terms, potato chips production shrank to $X in 2022 estimated in export price. In general, production continues to indicate a drastic downturn. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Potato chips production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Potato Chips Exports

Exports from Panama

In 2022, shipments abroad of potato chips decreased by X% to X kg, falling for the third consecutive year after three years of growth. In general, exports showed a sharp contraction. The pace of growth was the most pronounced in 2017 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, potato chips exports fell significantly to $X in 2022. Over the period under review, exports showed a significant decline. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Bahamas (X kg) was the main destination for potato chips exports from Panama, accounting for a X% share of total exports. Moreover, potato chips exports to Bahamas exceeded the volume sent to the second major destination, Trinidad and Tobago (X kg), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bahamas stood at X%.

In value terms, Bahamas ($X) emerged as the key foreign market for potato chips exports from Panama, comprising X% of total exports. The second position in the ranking was taken by Trinidad and Tobago ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Bahamas amounted to X%.

Export Prices by Country

In 2022, the average potato chips export price amounted to $X per ton, declining by X% against the previous year. In general, the export price saw a deep contraction. The pace of growth appeared the most rapid in 2020 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Trinidad and Tobago ($X per ton), while the average price for exports to Bahamas stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Aruba (X%), while the prices for the other major destinations experienced a decline.

Potato Chips Imports

Imports into Panama

In 2022, the amount of potato chips imported into Panama expanded modestly to X tons, surging by X% against the previous year. Overall, imports showed a significant increase. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, potato chips imports rose rapidly to $X in 2022. In general, imports continue to indicate significant growth. 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 reached the maximum in 2022 and are likely to see steady growth in years to come.

Imports by Country

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

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

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

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

Import Prices by Country

In 2022, the average potato chips import price amounted to $X per ton, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2014 when the average import price increased by X%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Free Zones ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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