Market research

Beef, sheep or goat fat market in Panama

Release date: Mar 28, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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Submission method: to your account

File format: docx, xlsx

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Earlier Report Observations

The market for beef, sheep, and goat fat in Panama expanded from 4 197 t in 2018 to 4 422 t in 2019, driven by a surge in sheep and goat farming activities. The Ministry of Agricultural Development reported thousands of animals and hundreds of farmers, while genetic improvement programs through artificial insemination and breeding loan initiatives bolstered production capacity.

A sharp contraction to 2 428 t occurred in 2020, disrupting the upward trend. The market rebounded to 3 821 t in 2021 and peaked at 4 600 t in 2022, supported by ongoing government efforts to promote the sector and the need for investments to compete with imports. By 2023, volumes slightly eased to 4 400 t.

Throughout the period, the sector saw no major regulatory changes, new player entries, or large facility openings, with growth primarily fueled by developmental programs and training for producers.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Panama
  1. 5.1.1. Annual dynamics of production in Panama in kind, 2018-2023, t
  2. 5.1.2. Annual dynamics of production in Panama in value, 2018-2023, $ US
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, t
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, t
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Imports
1. 6.1. Imports (Direct Data)
  1. 6.1.1. Imports - Total information
  2. 6.1.2. Imports in kind, kg
    1. 6.1.2.1. Annual dynamics of product's imports to Panama in kind, 2018-2024, kg
    2. 6.1.2.2. Dynamics of product's imports in kind to Panama by countries, 2018-2024, kg
    3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.1.3. Imports in value, $ US
    1. 6.1.3.1. Annual dynamics of product's imports to Panama in value, 2018-2024, $ US
    2. 6.1.3.2. Dynamics of product's imports in value to Panama by countries, 2018-2024, $ US
    3. 6.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's imports, $ US/t
    1. 6.1.4.1. Annual dynamics of average price of product's imports to Panama, 2018-2024, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's imports to Panama by countries, 2018-2024, $ US/t
2. 6.2. Imports (Mirror Data)
  1. 6.2.1. Imports - Total information
  2. 6.2.2. Imports in kind, kg
    1. 6.2.2.1. Annual dynamics of product's imports to Panama in kind, 2018-2024, kg
    2. 6.2.2.2. Dynamics of product's imports in kind to Panama by countries, 2018-2024, kg
    3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.2.3. Imports in value, $ US
    1. 6.2.3.1. Annual dynamics of product's imports to Panama in value, 2018-2024, $ US
    2. 6.2.3.2. Dynamics of product's imports in value to Panama by countries, 2018-2024, $ US
    3. 6.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's imports, $ US/t
    1. 6.2.4.1. Annual dynamics of average price of product's imports to Panama, 2018-2024, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's imports to Panama by countries, 2018-2024, $ US/t
7. Trade balance
1. 7.1. Trade balance (Direct Data)
  1. 7.1.1. In kind, kg
  2. 7.1.2. In value, $ US
2. 7.2. Trade balance (Mirror Data)
  1. 7.2.1. In kind, kg
  2. 7.2.2. In value, $ US
8. Top buying and selling countries, 2018-2024
1. 8.1. Direct Data
  1. 8.1.1. Import in Value by Countries-buyers
  2. 8.1.2. Export in Value by Countries-suppliers
2. 8.2. Mirror Data
  1. 8.2.1. Import in Value by Countries-buyers
  2. 8.2.2. Export in Value by Countries-suppliers

Production beef, sheep or goat fat in Panama

In kind, 2017-2020, t

Top producers of beef, sheep or goat fat, 2017-2020

Source: SHEV.io

World map of production of beef, sheep or goat fat, 2017-2020

Source: SHEV.io

Panama's production of beef, sheep, or goat fat declined after two years of growth. In 2019, output peaked at 4 422 tonnes, marking a 5.4% increase from the previous year. However, by 2020, production had fallen sharply to 2 428 tonnes, representing a significant 45.1% drop compared to 2019. Over the entire period from 2017 to 2020, production decreased by 41.9%, which translates to an average annual decline of 16.5%.

Annual dynamics of production in Panama in kind, 2017-2020, t

Parameter		2018	2019	2020	CAGR
1	Change from last year	0.5%	5.4%	(45.1%)	(16.5%)

Source: SHEV.io

Exports beef, sheep or goat fat from Panama

According to market overview data, Panama did not export any beef, sheep, or goat fat from 2017 to 2020.

Imports beef, sheep or goat fat to Panama

Imports in kind, kg

Annual dynamics of product's imports to Panama in kind, 2017-2020, kg

Parameter		2018	2019	2020	CAGR
1	Change from last year	n/a	n/a	n/a	-

Source: SHEV.io

From 2017 to 2020, the United States was the dominant source for Panama's imports of beef, sheep, or goat fat in volume terms, accounting for 100.0% of total imports throughout this period.

Structure of product's imports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's imports to Panama in kind, 2017-2020

Source: SHEV.io

Imports in value, $ US

Annual dynamics of product's imports to Panama in value, 2017-2020, $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	n/a	n/a	n/a	-

Source: SHEV.io

In value terms, Panama's imports of beef, sheep, or goat fat from 2017 to 2020 were almost entirely sourced from the United States, with its share reaching 100.0% of total import value.

Structure of product's imports in value by countries, 2017-2020

Source: SHEV.io

World map of product's imports to Panama in value, 2017-2020

Source: SHEV.io