Market research

Paddy rice market in Panama

Release date: Mar 28, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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Earlier Report Observations

The market volume for paddy rice in Panama showed notable fluctuations between 2018 and 2023, ranging from 416.5 thousand tons to 588.2 thousand tons. The peak years were 2020, when consumption reached 522.7 thousand tons, and 2023, when it hit 588.2 thousand tons. Underlying these movements, production decisions have historically been strongly tied to harvested area, while import volumes were influenced by trade policies stemming from Panama's WTO membership since 1997.

Domestic production grew steadily from 350.2 thousand tons in 2018 to 421.2 thousand tons in 2022, before contracting to 397.0 thousand tons in 2023. Imports, however, experienced sharp swings, falling to a low of 23.4 thousand tons in 2021 before surging to 191.2 thousand tons in 2023, which significantly affected total market supply. In August 2024, the government issued Decree 27, removing first-category rice from price controls, ending a decade of regulated pricing that had impacted local availability.

The rice sector in Panama is characterized by geographic concentration, with Chiriquí province as the main producer, and diverse planting systems ranging from manual to mechanized irrigation. Public institutions including the Ministry of Agricultural Development (MIDA), the Agricultural Marketing Institute (IMA), and the Consumer Protection Authority (Acodeco) collaborate with mills and farmers to monitor inventories and ensure market stability.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
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. 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. 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, K $ US
    1. 6.1.3.1. Annual dynamics of product's imports to Panama in value, 2018-2024, K $ US
    2. 6.1.3.2. Dynamics of product's imports in value to Panama by countries, 2018-2024, K $ 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, K $ US
    1. 6.2.3.1. Annual dynamics of product's imports to Panama in value, 2018-2024, K $ US
    2. 6.2.3.2. Dynamics of product's imports in value to Panama by countries, 2018-2024, K $ 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. 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, K $ US
    1. 7.1.3.1. Annual dynamics of product's exports from Panama in value, 2018-2024, K $ US
    2. 7.1.3.2. Dynamics of product's exports in value from Panama by countries, 2018-2024, K $ 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, K $ US
    1. 7.2.3.1. Annual dynamics of product's exports from Panama in value, 2018-2024, K $ US
    2. 7.2.3.2. Dynamics of product's exports in value from Panama by countries, 2018-2024, K $ 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. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, K t
  2. 8.1.2. In value, K $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, K t
  2. 8.2.2. In value, K $ US
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 paddy rice in Panama

In kind, 2017-2020, K t

Top producers of paddy rice, 2017-2020

Source: SHEV.io

World map of production of paddy rice, 2017-2020

Source: SHEV.io

Paddy rice production in Panama has increased for the third consecutive year. In 2020, Panama produced 391.6 thousand tons of paddy rice, representing a moderate 5.2% increase compared to the previous year. Between 2017 and 2020, production grew by 23.8%, which translates to an annualized growth rate of 7.4%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	10.7%	6.3%	5.2%	7.4%

Source: SHEV.io

Exports paddy rice from Panama

Exports in kind, K t

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	n/a	n/a	n/a	-

Source: SHEV.io

From 2017 to 2020, the export partner base for paddy rice in kind was extremely narrow, with Venezuela accounting for 100.0% of total exports.

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

Source: SHEV.io

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

Source: SHEV.io

Exports in value, K $ US

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	n/a	n/a	n/a	-

Source: SHEV.io

During the 2017–2020 period, the geographical distribution of exports in value terms showed a strong dependence on Venezuela, which absorbed 100.0% of total export flows.

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

Source: SHEV.io

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

Source: SHEV.io

Imports paddy rice to Panama

Imports in kind, K t

The market displayed an unstable trend throughout the period. Imports bottomed in 2017 and peaked in 2020, with a 6.9-fold difference between these years. In 2020, Panama's cross-border shipments of paddy rice reached 131.7 thousand tons, marking a 197.7% increase from the previous year. The largest decline occurred in 2019, at 55.3%, while the largest increase was recorded in 2018, at 417.3%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	417.3%	(55.3%)	197.7%	90.3%

Source: SHEV.io

From 2017 to 2020, Uruguay (36.0% of imports in kind), the United States (32.7% of imports in kind), and Paraguay (18.8% of imports in kind) remained the main suppliers of paddy rice to Panama, collectively accounting for 87.5% of total imports in kind.

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, K $ US

The market exhibited volatility over the observed period. The lowest import value was registered in 2017, while the highest occurred in 2020, with a peak-to-trough ratio of 9.7 times. In 2020, Panama's paddy rice imports amounted to 51 659 thousand US dollars, which is 250.7% higher than in 2019. The largest decline was in 2019, at 58.7%, and the largest increase was in 2018, at 567.4%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	567.4%	(58.7%)	250.7%	112.9%

Source: SHEV.io

Between 2017 and 2020, three key markets — Uruguay, the United States, and Paraguay — together represented 86.8% of Panama's total paddy rice imports in value terms.

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