Dried shelled legumes market in Panama

Earlier Report Observations

The market for dried shelled legumes in Panama began the period at 35 096 t in 2018, the year the Ministry of Commerce and Industry regulated the packaging and distribution of commercial grains to organize the sector. Volume dropped to 31 928 t in 2019. It then rebounded to a peak of 37 650 t in 2020, a year marked by the COVID-19 pandemic, which affected supply chains and demand, and by production losses due to adverse weather conditions in Chiriquí province.

Market size declined to 33 814 t in 2021, when per capita consumption of legumes reached 9.5 kg and efforts were made to link national production with healthy food consumption. In 2022, the first State Agri-Food Policy Law was enacted to promote sector sustainability, and new food labeling regulations were implemented, while the market edged down to 32 518 t. The contraction continued to 29 188 t in 2023, as drought mitigation plans were strengthened in several provinces and legislative changes to provide crop-specific incentives were under discussion.

Production dried shelled legumes in Panama

In kind, 2017-2020, t

Top producers of dried shelled legumes, 2017-2020

World map of production of dried shelled legumes, 2017-2020

Panama's production of dried shelled legumes has declined for the third year in a row. In 2020, the country produced 14 846 tons, marking a moderate 4.4% decrease from the previous year. Looking at the period from 2017 to 2020, production fell by 21.7%, which translates to an annualized decline rate of 7.8%.

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

Exports dried shelled legumes from Panama

Exports in kind, t

Panama's exports of dried shelled legumes have also declined for the third consecutive year. In 2020, the country exported 68 tons, down by 79.6% compared to 2019. Over the 2017-2020 period, exports plummeted by 99.1%, with an annualized rate of decrease at 79.3%.

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

From 2017 to 2020, Panama's exports of dried shelled legumes were heavily dependent on Venezuela, which accounted for 96.6% of the total export volume.

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

In value terms, Panama's exports of dried shelled legumes declined for the third year running. In 2020, exports amounted to 43 thousand US dollars, an 86.1% drop from the previous year. Between 2017 and 2020, exports decreased by 99.3%, equating to an annualized decline of 80.5%.

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

During 2017-2020, the value of Panama's dried shelled legumes exports was almost entirely concentrated in Venezuela, with a share reaching 96.1%.

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

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

Imports dried shelled legumes to Panama

Imports in kind, t

After two years of decline, Panama's imports of dried shelled legumes increased in volume. In 2020, the country imported approximately 22 872 tons, reflecting a sharp 36.7% rise compared to 2019. Over the 2017-2020 period, imports grew by 10.4%, with a compound annual growth rate of 3.4%. The lowest volume was recorded in 2019 at 16 732 tons, which saw the largest decline of 12.5%.

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

From 2017 to 2020, Panama's imports of dried shelled legumes in volume terms were largely oriented towards Canada and the United States, with their combined share reaching 87.6% of total flows, while other destinations played a secondary role.

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

Following a two-year decline, Panama's imports of dried shelled legumes increased in value. In 2020, imports totaled 20 023 thousand US dollars, showing a sharp 43.8% increase from 2019. Between 2017 and 2020, imports decreased by 12.6%, with an annualized decline rate of 4.4%. The lowest value was recorded in 2019 at 13 921 thousand US dollars, and the largest decline occurred in 2018 at 24.9%.

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

In the 2017-2020 period, Canada and the United States jointly accounted for 85.2% of the total import value of dried shelled legumes to Panama, with the remainder distributed across smaller markets.

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

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