Non-rendered pig fat free of lean meat market in Panama

Earlier Report Observations

Panama's market for non-rendered pig fat free of lean meat exhibited considerable volatility from 2018 to 2020. In 2018, the market volume reached 4 282 t, bolstered by biosecurity efforts led by the National Association of Pig Farmers (ANAPOR) to ensure product quality and freshness. However, 2019 saw a sharp decline to 2 910 t as consumer preferences shifted towards leaner pork cuts like lomo and filete, influenced by health considerations and rising beef prices. The COVID-19 pandemic in 2020 spurred increased pork consumption overall, helping the market recover to 4 126 t.

After the initial pandemic impact, the market continued to expand, peaking at 4 805 t in 2021. It then retreated to 4 301 t in 2022. By 2023, the market stabilized at 4 248 t, while projected pork imports from the United States under tariff mechanisms such as 'Primero Llegado' introduced new supply-side influences.

In 2024, Panama opened its market to pork imports from Brazil, broadening supply sources and diversifying the local offering, as reported by the Brazilian Animal Protein Association (ABPA).

Production non-rendered pig fat free of lean meat in Panama

In kind, 2017-2020, t

Top producers of non-rendered pig fat free of lean meat, 2017-2020

World map of production of non-rendered pig fat free of lean meat, 2017-2020

Panama's production of non-rendered pig fat free of lean meat has declined for the second year in a row. In 2020, the country produced 1,918 tonnes, marking a 3.7% decrease from the previous year. Looking at the period from 2017 to 2020, production fell by 37%, which translates to an average annual decline of 14.3%. The highest production level was recorded in 2018 at 3,315 tonnes. The most significant drop occurred in 2019 with a 39.9% decrease, while the largest increase was seen in 2018 at 8.9%.

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

Exports non-rendered pig fat free of lean meat from Panama

Exports in kind, t

The market showed an unstable trend over the analyzed period. Exports reached their peak in 2019 and hit their lowest point in 2020, with a 55-fold difference between these years. In 2020, Panama exported 0.1 tonnes of non-rendered pig fat free of lean meat, representing a sharp decline of 98.2% compared to the year before.

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

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

Exports in value, K $ US

Market performance displayed noticeable fluctuations during this timeframe. Export values varied significantly, with a 58-fold difference between the high in 2019 and the low in 2020. In 2020, Panama's exports of non-rendered pig fat free of lean meat totaled 0.1 thousand US dollars, indicating a substantial year-over-year drop of 98.3%.

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

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

Imports non-rendered pig fat free of lean meat to Panama

Imports in kind, t

The market exhibited an unstable trend throughout the period. Imports bottomed out in 2017 and peaked in 2020, showing a 2.6-fold increase between these years. In 2020, Panama imported a total of non-rendered pig fat free of lean meat, reflecting a sharp year-over-year rise of 139.0%. The largest decline was recorded in 2019 at 4.5%.

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

From 2017 to 2020, the United States and Canada were the main suppliers of non-rendered pig fat free of lean meat to Panama, together accounting for 96.1% of total imports in volume. Other countries made up the remaining share.

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

Market performance experienced noticeable fluctuations during this period. Import values reached their lowest point in 2017 and peaked in 2020, with a 2.5-fold swing between these years. In 2020, Panama's import volume of non-rendered pig fat free of lean meat amounted to 4,567 thousand US dollars, which is 144.4% higher than the previous year. The largest decline was recorded in 2019 at 4.0%.

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

Throughout 2017–2020, the United States dominated Panama's import partner structure in value terms, holding a 76.7% share of total flows. Other markets contributed relatively modest shares.

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

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