Honey market in Panama, 2026

Earlier Report Observations

The honey market in Panama experienced significant fluctuations between 2018 and 2020. Market volume dropped to 490.6 tons in 2019 from 597.3 tons the previous year, partly due to unfair competition from imported honey of dubious origin, which reduced import volumes. Domestic prices remained above international averages, indicating potential for differentiated markets. In 2020, the market expanded sharply to 664.3 tons, driven by a surge in imports to 520.6 tons, even though local production fell to 170 tons.

From 2021 onward, the market gradually contracted, reaching 520.9 tons in 2022 before a slight recovery to 540.0 tons in 2023. In 2021, a technological improvement project for honey processing by Si Es Natural, S.A., supported by SENACYT, enhanced product quality for export, but difficulties in obtaining sanitary registrations for Central American and Caribbean markets limited international sales. By 2024, a joint study by the University of Panama and the Ministry of Health revealed that 60% of honey on the market was adulterated, though honey from national beekeepers was authentic and of good quality, coinciding with increased beekeeping activity across several provinces.

Production honey in Panama

In kind, 2017-2020, t

Top producers of honey, 2017-2020

World map of production of honey, 2017-2020

Panama's honey production has declined for the second year in a row. In 2020, the country produced 170.0 t of honey, which represents a 15.4% decrease from the previous year. Looking at the period from 2017 to 2020, production fell by 25.4%, with an average annual decline of 9.3%. The highest production level was recorded in 2018 at 237.0 t, which also saw the largest increase of 3.9%.

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

In value, 2017-2020, K $ US

Honey production in Panama has decreased for the second consecutive year. In 2020, the value of honey output was 675 K $ US, showing a significant drop of 19.8% compared to the prior year. From 2017 to 2020, production value declined by 33.5%, equivalent to an annualized rate of 12.7%. The peak value occurred in 2018 at 1 144 K $ US, which also experienced the largest increase of 12.7%. The most substantial decline was in 2019, with a 26.4% decrease.

Annual dynamics of production in Panama in value, 2017-2020, K $ US

Exports honey from Panama

Exports in kind, t

The data shows irregular changes, indicating a volatile market environment. The lowest export volume was in 2017, while the highest was in 2020, with a 29-fold difference between these years. In 2020, Panama exported 26.3 t of honey, marking a dramatic increase of 2 821.7% compared to 2019. The largest decline was recorded in 2019 at 89.4%.

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

From 2017 to 2020, Venezuela and Mexico together absorbed 85.6% of Panama's total honey exports in volume, with the remaining share distributed among smaller markets.

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 market displayed an unstable trend throughout the period. The minimum value was in 2019, and the maximum was in 2020, with a 28-fold variation between them. In 2020, Panama's honey export value reached 104 K $ US, reflecting a sharp rise of 2 670.8% from the previous year. The lowest value was recorded in 2019 at 4 K $ US, which also saw the largest decline of 90.8%.

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

Between 2017 and 2020, Venezuela and Mexico were the primary markets for Panama's honey exports in value terms, jointly accounting for 85.6% of total flows, while other destinations had relatively smaller shares.

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

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

Imports honey to Panama

Imports in kind, t

The data reveals irregular changes, pointing to a volatile market environment. Import volumes reached their lowest point in 2017 and peaked in 2020, with a 2.4-fold increase over this period. In 2020, Panama imported 520.6 t of honey, representing a sharp rise of 79.2% compared to 2019. The largest decline occurred in 2019 at 21.2%.

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

From 2017 to 2020, Mexico (35.8% of import volume), the United States (27.8% of import volume), and Brazil (15.3% of import volume) formed the core of Panama's honey imports, together accounting for 78.9% of total volume.

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

The market exhibited an unstable trend throughout the timeframe. The minimum import value was in 2017, and the maximum was in 2020, with a 2.8-fold difference. In 2020, Panama's honey import value amounted to 1 904 K $ US, showing a sharp gain of 82.9% from 2019. The largest decline was in 2019 at 19.2%, while the largest increase was in 2018 at 87.8%.

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

In the period 2017–2020, the United States (40.4% of import value), Mexico (29.1% of import value), and Brazil (12.4% of import value) accounted for the largest share of Panama's honey imports in value terms, together comprising 81.9% of total flows.

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

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