Panama - Rice - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPanama: Rice Market 2024
Rice Market Size in Panama
In 2023, the Panamanian rice market increased by X% to $X, rising for the second year in a row after three years of decline. Over the period under review, the total consumption indicated tangible growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2021 indices. As a result, consumption attained the peak level of $X. From 2017 to 2023, the growth of the market remained at a lower figure.
Rice Production in Panama
In value terms, rice production declined slightly to $X in 2023 estimated in export price. Over the period under review, production, however, continues to indicate a pronounced decline. The growth pace was the most rapid in 2016 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2023, production growth failed to regain momentum.
The average yield of rice in Panama amounted to X tons per ha in 2023, approximately equating 2022. The yield figure increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when the yield increased by X%. The rice yield peaked at X tons per ha in 2021; afterwards, it flattened through to 2023. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2023, approx. X ha of rice were harvested in Panama; leveling off at 2022 figures. In general, the harvested area recorded a mild increase. The growth pace was the most rapid in 2013 with an increase of X%. The rice harvested area peaked at X ha in 2020; however, from 2021 to 2023, the harvested area remained at a lower figure.
Rice Exports
Exports from Panama
In 2023, the amount of rice exported from Panama surged to X tons, growing by X% against the previous year's figure. In general, exports saw significant growth. The growth pace was the most rapid in 2014 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 2023, the exports stood at a somewhat lower figure.
In value terms, rice exports soared to $X in 2023. Overall, exports recorded a prominent increase. The pace of growth was the most pronounced in 2014 with an increase of X%. As a result, the exports attained the peak of $X. From 2015 to 2023, the growth of the exports failed to regain momentum.
Exports by Country
Ghana (X tons) was the main destination for rice exports from Panama, with a X% share of total exports. Moreover, rice exports to Ghana exceeded the volume sent to the second major destination, Gambia (X tons), twofold. Venezuela (X tons) ranked third in terms of total exports with a X% share.
From 2012 to 2023, the average annual growth rate of volume to Ghana amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Gambia (X% per year) and Venezuela (X% per year).
In value terms, Ghana ($X) remains the key foreign market for rice exports from Panama, comprising X% of total exports. The second position in the ranking was taken by Gambia ($X), with an X% share of total exports. It was followed by Venezuela, with a X% share.
From 2012 to 2023, the average annual growth rate of value to Ghana totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Gambia (X% per year) and Venezuela (X% per year).
Export Prices by Country
The average rice export price stood at $X per ton in 2023, rising by X% against the previous year. Overall, the export price, however, showed a deep downturn. The most prominent rate of growth was recorded in 2016 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Gambia ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Costa Rica (X%), while the prices for the other major destinations experienced more modest paces of growth.
Rice Imports
Imports into Panama
Rice imports into Panama skyrocketed to X tons in 2023, rising by X% compared with the previous year's figure. Over the period under review, imports enjoyed a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, rice imports surged to $X in 2023. Overall, imports saw resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
Imports by Country
In 2023, Uruguay (X tons) constituted the largest supplier of rice to Panama, with a X% share of total imports. Moreover, rice imports from Uruguay exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. Guyana (X tons) ranked third in terms of total imports with a X% share.
From 2012 to 2023, the average annual growth rate of volume from Uruguay amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Guyana (X% per year).
In value terms, Uruguay ($X) constituted the largest supplier of rice to Panama, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports. It was followed by Guyana, with a X% share.
From 2012 to 2023, the average annual growth rate of value from Uruguay stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Guyana (X% per year).
Import Prices by Country
In 2023, the average rice import price amounted to $X per ton, approximately equating the previous year. Overall, import price indicated a temperate increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, rice import price increased by X% against 2020 indices. The growth pace was the most rapid in 2013 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for Guyana ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the rice 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 27 - Rice, paddy
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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