Milled rice and broken rice market in Panama

Earlier Report Observations

The volume of Panama's milled rice and broken rice market fluctuated between approximately 297 thousand tons and 360 thousand tons from 2018 to 2023. A consistent government policy to protect local producers and regulate imports initiated a major structural shift, leading to a more than 30% increase in domestic production while imports fell by over 99%.

This transformation continued despite external pressures. In 2022, the government and producers implemented measures to guarantee output amid sharply higher fuel and fertilizer costs linked to the war in Eastern Europe, supporting a production rebound. By 2023, output approached self-sufficiency levels, even as the sector faced high production costs and the state marketing institute (IMA) resumed controlled-price fairs to distribute rice to consumers.

Earlier in the period, an initiative to sow over 92,500 hectares with biofortified rice varieties, backed by the Ministry of Agricultural Development and the national research institute, laid groundwork for enhanced yields, contributing to the longer-term expansion of domestic supply.

Production milled rice and broken rice in Panama

In kind, 2017-2020, K t

Top producers of milled rice and broken rice, 2017-2020

World map of production of milled rice and broken rice, 2017-2020

Panama's production of milled rice and broken rice has grown for the third year in a row. In 2020, the country produced 338.7 thousand tons, marking a 22.9% increase from the previous year. Looking at the period from 2017 to 2020, production rose by 40.4%, which translates to an average annual growth rate of 12.0%.

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

In value, 2017-2020, M $ US

Panama's production of milled rice and broken rice has increased for the third consecutive year. In 2020, the output was valued at 265.8 million US dollars, showing a significant 16.1% rise compared to 2019. Over the 2017-2020 period, production grew by 37.7%, with a compound annual growth rate of 11.3%.

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

Exports milled rice and broken rice from Panama

Exports in kind, t

The market displayed an unstable trend during this period. Exports reached their lowest point in 2019 at 203 tons, with the largest decline of 90.7% recorded that year. In 2020, Panama's exports of milled rice and broken rice rebounded to 562 tons, representing a 176.4% increase year-over-year. The peak was in 2017, creating a 23-fold gap between the highest and lowest years.

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

From 2017 to 2020, Panama's exports of milled rice and broken rice in kind were heavily concentrated on Venezuela, which accounted for 89.3% of total flows. Other countries together made up the remaining share.

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 showed volatility over the observed period. The lowest exports were recorded in 2019 at 169 thousand US dollars, with the largest decline of 90.5% that year. In 2020, Panama exported 441 thousand US dollars worth of milled rice and broken rice, a 161.0% increase from the previous year. The highest exports were in 2017, resulting in a 22-fold gap between the peak and trough.

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

Throughout 2017-2020, Venezuela dominated Panama's export partner structure in value terms, holding an 88.8% share of total flows. Other markets had relatively modest 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 milled rice and broken rice to Panama

Imports in kind, t

There were noticeable fluctuations in market performance during this period. The maximum import volume was recorded in 2018 at 87 804 tons, with the largest increase of 74.7% that year. In 2020, Panama's imports of milled rice and broken rice fell to 14 018 tons, down 75.0% from the previous year, reaching the lowest level. This created a peak-to-trough ratio of 6.3 times between 2018 and 2020.

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

From 2017 to 2020, Guyana, the United States, and Paraguay played leading roles in Panama's imports of milled rice and broken rice in kind. Guyana accounted for 47.0%, the United States for 24.9%, and Paraguay for 12.6%, jointly representing 84.5% of total 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

The market exhibited volatility over the observed period. The highest import value was in 2018 at 44 550 thousand US dollars, with the largest increase of 93.4% recorded that year. In 2020, foreign supplies of milled rice and broken rice to Panama amounted to 7 841 thousand US dollars, a 70.7% decrease from the previous year, marking the lowest point. This resulted in a peak-to-trough ratio of 5.7 times between 2018 and 2020.

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

In 2017-2020, Guyana, the United States, and Brazil consistently remained the main sources for Panama's imports of milled rice and broken rice in value terms. Guyana held a 49.7% share, the United States 23.7%, and Brazil 11.9%, together accounting for 85.3% 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