Coconuts market in Panama

Earlier Report Observations

From 2018 to 2021, coconut production in Panama grew steadily, supported by government-led initiatives. A technological renewal program for coconut plantations in Colón Province, launched in 2018, aimed to recover output through improved varieties. The following year, the start of exports to international markets like Spain provided additional impetus for production, while reinforced competition policy encouraged new market entrants. Despite the COVID-19 pandemic in 2020, shortened supply chains helped maintain farmer access to markets, and strategic agri-food development plans from 2021 emphasized modernization and training.

A marked expansion occurred in 2022, with production jumping by over 20% to 19 208 t. This surge coincided with intensified phytosanitary campaigns and research programs to control coconut palm diseases, likely boosting yields. The market volume reached 19 222 t that year, reflecting the increased domestic supply. In 2023, production stabilized at the same level, and the market volume edged up slightly to 19 299 t.

Production coconuts in Panama

In kind, 2017-2020, t

Top producers of coconuts, 2017-2020

World map of production of coconuts, 2017-2020

Panama's coconut production increased for the second consecutive year. In 2020, the country produced 15 847 tonnes of coconuts, marking a slight improvement of 0.8% compared to 2019. The lowest production level was recorded in 2018 at 15 610 tonnes, which also saw the largest decline of 0.8%. The most significant increase occurred in 2019, also at 0.8%.

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

Exports coconuts from Panama

Exports in kind, t

Coconut exports from Panama declined for the second consecutive year. In 2019, exports amounted to 0.2 tonnes, representing a dramatic decrease of 98.2% compared to 2018. Between 2017 and 2019, exports fell by 98.5%, which translates to an annualized decline rate of 75.6%.

Annual dynamics of product's exports from Panama in kind, 2017-2020, t

From 2017 to 2020, Panama's coconut exports in volume terms were highly concentrated, with Belgium and Costa Rica together accounting for 95.9% of total flows. Other trading partners represented only a small residual portion.

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

World map of product's exports from Panama in kind, 2017-2020

Exports in value, K $ US

The data reveals irregular changes, indicating a volatile market environment. The lowest export value was recorded in 2019 at 0.2 thousand US dollars, representing a dramatic drop of 99.4% compared to the previous year. The highest value occurred in 2018 at 36.8 thousand US dollars, with the largest increase of 143.1% also recorded that year. The peak-to-trough ratio between 2018 and 2019 was 159 times.

Annual dynamics of product's exports from Panama in value, 2017-2020, K $ US

Between 2017 and 2020, Costa Rica and Belgium together accounted for 94.9% of Panama's coconut exports in value terms. Other countries formed a diversified but less significant portion of the export structure.

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

World map of product's exports from Panama in value, 2017-2020

Imports coconuts to Panama

Imports in kind, t

After two years of growth, Panama's coconut imports declined. In 2020, imports stood at 74.6 tonnes, reflecting an abrupt year-on-year drop of 27.4%. The highest import volume was recorded in 2019 at 102.7 tonnes, which also saw the largest increase of 52.8%. Between 2017 and 2020, imports increased by 23.1%, equating to an annualized growth rate of 7.2%.

Annual dynamics of product's imports to Panama in kind, 2017-2020, t

Throughout the 2017-2020 period, the Philippines (54.6% of import volume), the United States (17.9%), and India (12.3%) remained the key sources for Panama's coconut imports. Together, these three countries accounted for 84.8% of total import flows.

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

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

Imports in value, K $ US

In 2020, Panama's coconut import value amounted to 228.5 thousand US dollars, which is 13.4% lower than the previous year. The lowest value was recorded in 2018 at 193.9 thousand US dollars, while the highest occurred in 2019 at 264.0 thousand US dollars, which also saw the largest increase of 36.1%. Over the 2017-2020 period, imports increased by 14.5%, with a compound annual growth rate of 4.6%.

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

From 2017 to 2020, the Philippines (44.7% of import value), the United States (29.7%), and India (9.5%) were the main sources in the geographical breakdown of Panama's coconut imports in value terms. Together, these three countries accounted for 84.0% of total import flows.

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

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