Market research

Maize market in Panama

Maize market in Panama

Release date: Mar 28, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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Earlier Report Observations

The maize market in Panama showed moderate fluctuations between 2018 and 2020, with market volume ranging from 634 to 655 thousand tons. In 2018, the government issued broad regulations to boost the agricultural sector and declare rice a food security crop, though no maize-specific measures were reported.

A significant shift occurred in 2021 when state incentives, including direct funds to producers, supported an increase in domestic maize production. Concurrently, imports surged, pushing total market volume to 849 thousand tons. In reaction to the import rise, authorities implemented a tariff modification in 2022 aimed at protecting national maize growers by eliminating duties on certain processed maize products.

Despite continued policy support, domestic output fell sharply in 2022 and remained low in 2023, while imports also declined, reducing market volume to 631 thousand tons by 2023. During this period, new food labeling rules, including front-of-pack nutritional warnings and regulations for genetically modified organisms, were introduced, altering the regulatory landscape for maize-based foods.

Table of content

  1. 1. Disclaimer
  2. 2. Terms of use of the report
  3. 3. Product codes in the statistical classifications used in the report
  4. 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. 5. Production
    1. 5.1. Production in Panama
      1. 5.1.1. Annual dynamics of production in Panama in kind, 2018-2023, K 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, K 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, K 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. 6. Imports
    1. 6.1. Imports (Direct Data)
      1. 6.1.1. Imports - Total information
      2. 6.1.2. Imports in kind, K t
        1. 6.1.2.1. Annual dynamics of product's imports to Panama in kind, 2018-2024, K t
        2. 6.1.2.2. Dynamics of product's imports in kind to Panama by countries, 2018-2024, K t
        3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2024
      3. 6.1.3. Imports in value, M $ US
        1. 6.1.3.1. Annual dynamics of product's imports to Panama in value, 2018-2024, M $ US
        2. 6.1.3.2. Dynamics of product's imports in value to Panama by countries, 2018-2024, M $ 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, K t
        1. 6.2.2.1. Annual dynamics of product's imports to Panama in kind, 2018-2024, K t
        2. 6.2.2.2. Dynamics of product's imports in kind to Panama by countries, 2018-2024, K t
        3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2024
      3. 6.2.3. Imports in value, M $ US
        1. 6.2.3.1. Annual dynamics of product's imports to Panama in value, 2018-2024, M $ US
        2. 6.2.3.2. Dynamics of product's imports in value to Panama by countries, 2018-2024, M $ 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. 7. Exports
    1. 7.1. Exports (Direct Data)
      1. 7.1.1. Exports - Total information
      2. 7.1.2. Exports in kind, K t
        1. 7.1.2.1. Annual dynamics of product's exports from Panama in kind, 2018-2024, K t
        2. 7.1.2.2. Dynamics of product's exports in kind from Panama by countries, 2018-2024, K t
        3. 7.1.2.3. Structure of product's exports in kind by countries, 2018-2024
      3. 7.1.3. Exports in value, M $ US
        1. 7.1.3.1. Annual dynamics of product's exports from Panama in value, 2018-2024, M $ US
        2. 7.1.3.2. Dynamics of product's exports in value from Panama by countries, 2018-2024, M $ US
        3. 7.1.3.3. Structure of product's exports in value by countries, 2018-2024
      4. 7.1.4. Average price of product's exports, $ US/t
        1. 7.1.4.1. Annual dynamics of average price of product's exports from Panama, 2018-2024, $ US/t
        2. 7.1.4.2. Dynamics of average price of product's exports from Panama by countries, 2018-2024, $ US/t
    2. 7.2. Exports (Mirror Data)
      1. 7.2.1. Exports - Total information
      2. 7.2.2. Exports in kind, K t
        1. 7.2.2.1. Annual dynamics of product's exports from Panama in kind, 2018-2024, K t
        2. 7.2.2.2. Dynamics of product's exports in kind from Panama by countries, 2018-2024, K t
        3. 7.2.2.3. Structure of product's exports in kind by countries, 2018-2024
      3. 7.2.3. Exports in value, M $ US
        1. 7.2.3.1. Annual dynamics of product's exports from Panama in value, 2018-2024, M $ US
        2. 7.2.3.2. Dynamics of product's exports in value from Panama by countries, 2018-2024, M $ US
        3. 7.2.3.3. Structure of product's exports in value by countries, 2018-2024
      4. 7.2.4. Average price of product's exports, $ US/t
        1. 7.2.4.1. Annual dynamics of average price of product's exports from Panama, 2018-2024, $ US/t
        2. 7.2.4.2. Dynamics of average price of product's exports from Panama by countries, 2018-2024, $ US/t
  8. 8. Trade balance
    1. 8.1. Trade balance (Direct Data)
      1. 8.1.1. In kind, K t
      2. 8.1.2. In value, M $ US
    2. 8.2. Trade balance (Mirror Data)
      1. 8.2.1. In kind, K t
      2. 8.2.2. In value, M $ US
  9. 9. Top buying and selling countries, 2018-2024
    1. 9.1. Direct Data
      1. 9.1.1. Import in Value by Countries-buyers
      2. 9.1.2. Export in Value by Countries-suppliers
    2. 9.2. Mirror Data
      1. 9.2.1. Import in Value by Countries-buyers
      2. 9.2.2. Export in Value by Countries-suppliers

Production maize in Panama

In kind, 2017-2020, K t

Top producers of maize, 2017-2020

Source: SHEV.io

World map of production of maize, 2017-2020

Source: SHEV.io

Panama produced 133.1 thousand tonnes of maize in 2020, marking an 8.2% increase from 2019. Over the period from 2017 to 2020, production grew by 14.6%, which translates to an average annual growth rate of 4.6%. The largest decline occurred in 2019, with a drop of 4.3%, while the most significant increase was recorded in 2018, at 10.7%.

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

Parameter201820192020CAGR
1Change from last year10.7%(4.3%)8.2%4.6%
Source: SHEV.io

Exports maize from Panama

According to market analysis, Panama did not export any maize between 2017 and 2020.

Imports maize to Panama

Imports in kind, K t

In 2020, Panama's maize import volume reached 521.6 thousand tonnes, showing a slight increase of 2.1% compared to the previous year. From 2017 to 2020, imports rose by 12.4%, averaging an annual growth rate of 4.0%. The highest import volume was recorded in 2018 at 523.3 thousand tonnes. The largest decline occurred in 2019, with a decrease of 2.4%, while the most significant increase was in 2018, at 12.8%.

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

Parameter201820192020CAGR
1Change from last year12.8%(2.4%)2.1%4.0%
Source: SHEV.io

Between 2017 and 2020, the geographical distribution of maize imports in Panama showed a strong reliance on the United States, which accounted for 98.2% of total import flows.

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, M $ US

Panama's maize import value increased for the third consecutive year, reaching 106.6 million US dollars in 2020, up by 2.0% from the prior year. Over the 2017-2020 period, imports grew by 23.1%, with a compound annual growth rate of 7.2%.

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

Parameter201820192020CAGR
1Change from last year16.3%3.8%2.0%7.2%
Source: SHEV.io

From 2017 to 2020, the import market structure was highly concentrated, with the United States alone responsible for 94.6% 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

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