Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Panama - 2023

Contents:

1. Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Panama (CIF) - 2022
2. Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Panama (FOB) - 2022
3. Imports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Panama
4. Exports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Panama

Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Panama (CIF) - 2022

The average import price for spices; fruits of the genus capsicum or pimenta, crushed or ground stood at $4,695 per ton in 2022, reducing by -3.9% against the previous year. Over the period under review, the import price saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2014 when the average import price increased by 22%. Over the period under review, average import prices hit record highs at $5,869 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 the United States ($5,666 per ton), while the price for Peru ($2,802 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+7.4%), while the prices for the other major suppliers experienced a decline.

Price for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Panama (FOB) - 2022

The average export price for spices; fruits of the genus capsicum or pimenta, crushed or ground stood at $3,109 per ton in 2022, standing approx. at the previous year. In general, the export price showed notable growth. The most prominent rate of growth was recorded in 2013 when the average export price increased by 27% against the previous year. Over the period under review, the average export prices reached the maximum at $3,548 per ton in 2017; however, from 2018 to 2022, 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 Costa Rica ($5,094 per ton), while the average price for exports to the United States totaled $2,050 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Panama

In 2022, imports of spices; fruits of the genus capsicum or pimenta, crushed or ground into Panama rose rapidly to 121 tons, growing by 14% against 2021. Over the period under review, total imports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +17.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +60.0% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 27% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, imports of spices; fruits of the genus capsicum or pimenta, crushed or ground rose significantly to $570K in 2022. In general, total imports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +21.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +78.0% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by 32% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Top Suppliers of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground to Panama in 2022:

1. United States (36.3 tons)
2. China (35.3 tons)
3. Spain (33.4 tons)
4. Peru (12.8 tons)
5. Costa Rica (0.9 tons)

Exports of Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground in Panama

In 2022, overseas shipments of spices; fruits of the genus capsicum or pimenta, crushed or ground decreased by 0% to 4.8 tons, falling for the second year in a row after two years of growth. Overall, exports posted a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 3,080% against the previous year. As a result, the exports attained the peak of 9.6 tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of spices; fruits of the genus capsicum or pimenta, crushed or ground amounted to $15K in 2022. Over the period under review, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 2,989% against the previous year. As a result, the exports attained the peak of $30K. From 2021 to 2022, the growth of the exports of failed to regain momentum.

Top Export Markets for Spices; Fruits of the Genus Capsicum or Pimenta, Crushed or Ground from Panama in 2022:

1. United States (3.2 tons)
2. Costa Rica (1.7 tons)

Source: IndexBox Market Intelligence Platform