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Agricultural Products
A Top U.S. Export Prospect for Panama

May 2013

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Consumer Oriented Agricultural Products

Consumer oriented agricultural products constitute the most important sector. The primary products are snack foods ($52.2 million), other consumer oriented products ($57.0 million), dairy products ($40.7 million), and processed fruits and vegetables ($32.8 million). All of these categories, in 2012 denote the highest export levels since at least 1970, with an annual growth of 18%. Specialty food products, such as confections, cheese, coffee, snacks, spices, ethnic, natural, organic and more, are the best prospects of U.S. exports to Panama, due to the growing demand of consumers.

Market Estimates

(in US$ millions)

2010est

2011est

2012est

2013est

Total Market Size

759.4

993.4

1030.1

1067.2

Total Local Production

533.6

560.5

588.5

616.5

Total Exports

479.9

493.3

503.1

512.9

Total Imports

705.7

926.2

944.7

963.6

Imports from the U.S.

200.8

197.0

274.0

349.9

Exports to the U.S.

27.4

28.0

29.0

50.5

Data Sources: Dept. of Commerce, U.S. Bureau of the Census Trade Data.
General Comptroller of Panama, National Institute of Statistics and Census.
Food and Agriculture Organization of the United Nations (FAOSTAT).

Bulk Agricultural Products

High commodity prices sent this category to a decrease of U.S. bulk agricultural products exports to Panama of -34%. Most important products for this category are: wheat ($45.4 million, all from the U.S.), “paddy” rice ($41.0 million, 99% from the U.S.) and yellow corn ($16.1 million, where the U.S. lost 82% of its market share in 2012 with the Argentinean corn).

Market Estimates

(in US$ millions)

2010est

2011est

2012est

2013est

Total Market Size

395.6

503.2

647.8

792.2

Total Local Production

143.5

160.2

178.8

197.4

Total Exports

34.2

43.0

53.8

64.6

Total Imports

286.3

386.0

522.8

659.7

Imports from the U.S.

148.8

200.0

266.0

100.0

Exports to the U.S.

25.6

32.0

40.0

46.0

Data Sources: Dept. of Commerce, U.S. Bureau of the Census Trade Data.
General Comptroller of Panama, National Institute of Statistics and Census.
Food and Agriculture Organization of the United Nations (FAOSTAT).

Intermediate Agricultural Products

High demand for soybean meal ($45.2 million) continues to drive this sector, which is mainly used for feeding chicken and pork production. All soybean meal imports are from the U.S.

Market Estimates

(in US$ millions)

2010

2011

2012

2013est

Total Market Size

189.8

193.5

196.1

198.1

Total Local Production

4.3

4.5

5.1

5.7

Total Exports

22.8

22.0

23.0

24.0

Total Imports

208.3

211.0

214.0

217.0

Imports from the U.S.

94.9

95.0

97.0

90.8

Exports to the U.S.

0.3

0.4

0.4

5.6

Data Sources: Dept. of Commerce, U.S. Bureau of the Census Trade Data.
General Comptroller of Panama, National Institute of Statistics and Census.
Food and Agriculture Organization of the United Nations (FAOSTAT).

For More Information

In Panama, the U.S. Department of Agriculture maintains a Foreign Agricultural Service (FAS) office. FAS links U.S. agriculture to the world to enhance export opportunities and global food security. You can contact the U.S. Embassy Panama FAS office via email at: agpanamacity@fas.usda.gov; by phone at 011-507-317-5297; or by visiting the FAS Panama website at http://panama.usembassy.gov/fas.html.