Pig fat free of lean meat and poultry fat market in Panama

Earlier Report Observations

The Panamanian pig fat market opened the 2018-2023 period with a volume of 4 285 tons. This initial level coincided with national policy support for the swine industry, which aimed to develop local production for both domestic and international markets. The market then contracted sharply in 2019, falling by roughly a third to 2 912 tons.

A strong recovery followed, with market volume rising to 4 132 tons in 2020 and reaching a peak of 4 812 tons in 2021. This growth was largely driven by a surge in imports, which more than doubled from their 2019 level. During this period of expansion, the broader meat sector in Panama was also navigating challenges posed by food loss and waste, which affected product availability and food security.

After the 2021 high, the market stabilized, declining moderately to 4 305 tons in 2022 and then slightly to 4 255 tons in 2023.

Production pig fat free of lean meat and poultry fat in Panama

In kind, 2017-2020, t

Top producers of pig fat free of lean meat and poultry fat, 2017-2020

World map of production of pig fat free of lean meat and poultry fat, 2017-2020

Panama's production of pig fat free of lean meat and poultry fat has declined for two consecutive years. In 2020, production reached 1 918 tonnes, marking a modest 3.7% decrease compared to 2019. Over the 2017-2020 period, production fell by 37%, with a compound annual growth rate of -14.3%. The highest production level was recorded in 2018 at 3 315 tonnes. The most significant decline occurred in 2019 with a 39.9% drop, while the largest increase was seen in 2018 with an 8.9% rise.

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

Exports pig fat free of lean meat and poultry fat from Panama

Exports in kind, t

The market showed considerable volatility during this period. Export volumes varied dramatically, with a 55-fold difference between the high in 2019 and the low in 2020. In 2020, Panama's exports of pig fat free of lean meat and poultry fat amounted to just 0.1 tonnes, representing a substantial 98.2% year-over-year decrease.

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

The market demonstrated an unstable pattern throughout the observed timeframe. Export values reached their peak in 2019 and fell to their lowest point in 2020, showing a 58-fold difference between these extremes. In 2020, Panama exported 0.1 thousand US dollars worth of pig fat free of lean meat and poultry fat, indicating a sharp 98.3% decline compared to the previous year.

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 pig fat free of lean meat and poultry fat to Panama

Imports in kind, t

Import activity showed significant fluctuations during this period. Import volumes reached their highest level in 2020 and their lowest in 2017, with a 2.6-fold difference between these years. In 2020, Panama imported 2 215 tonnes of pig fat free of lean meat and poultry fat, representing a substantial 139.1% increase compared to 2019. The most notable decline occurred in 2019 with a 4.6% decrease.

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

Between 2017 and 2020, the United States and Canada consistently served as the primary sources for Panama's imports of pig fat free of lean meat and poultry fat, together accounting for 96.2% of total import volumes. Other trading partners each represented significantly smaller shares of the import market.

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 data reveals irregular fluctuations, pointing to a volatile market environment. Import values showed a 2.6-fold variation between the peak in 2020 and the trough in 2017. In 2020, Panama imported 4 607 thousand US dollars worth of pig fat free of lean meat and poultry fat, marking a sharp 144.5% increase year-over-year. The most significant decline was recorded in 2019 with a 4.0% decrease.

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

Throughout the 2017-2020 period, the United States dominated Panama's import market in value terms, accounting for 76.9% of total import flows. Other markets collectively formed a much smaller portion of the import structure.

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

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