Raw cane or beet sugar in solid form market in Panama

Earlier Report Observations

Panama's raw cane sugar market saw a gradual contraction in physical volume from 2018 to 2023. Production began the period at 175.7 thousand tons, supporting a domestic market size of 124.1 thousand tons. The introduction of a selective tax on sugary beverages in late 2019, designed to promote healthier lifestyles, reduced domestic demand for sugar, contributing to a lower market volume of 115.5 thousand tons that year.

New regulatory oversight emerged with the creation of the Panamanian Food Agency (APA) in 2021, which established stricter food safety and licensing requirements. This temporarily disrupted production, which fell to 137.4 thousand tons, and the market size contracted to 101.1 thousand tons. A rebound followed in 2022, lifting production to 158.3 thousand tons and the market to 123.0 thousand tons.

A significant shift occurred in 2023 with the passage of a biofuels law mandating the progressive blending of ethanol into gasoline. This legislation created an alternative demand stream for sugarcane, involving the country's four major sugar mills, though initial national production capacity was limited. During this transition, raw sugar output decreased to 148.3 thousand tons, with the domestic market size at 116.1 thousand tons by the end of the period.

Production raw cane or beet sugar in solid form in Panama

In kind, 2017-2020, K t

Top producers of raw cane or beet sugar in solid form, 2017-2020

World map of production of raw cane or beet sugar in solid form, 2017-2020

Panama's production of raw cane or beet sugar in solid form declined for the second year in a row. In 2020, the country produced 154.6 K t, marking a moderate 4.4% decrease from 2019. Over the 2017-2020 period, production fell by 7.5%, with an average annual decline of 2.6%. The highest production volume was recorded in 2018 at 175.7 K t, which represented a 5.1% increase from the previous year. The largest decline occurred in 2019, when production dropped by 8.0%.

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

In value, 2017-2020, M $ US

Following two years of decline, Panama's production value for raw cane or beet sugar in solid form increased in 2020. Output was valued at 90.8 M $ US, showing a modest 4.1% rise compared to 2019. However, over the 2017-2020 period, production value decreased by 10.1%, equivalent to an average annual decline of 3.5%. The lowest value was recorded in 2019 at 87.3 M $ US, which marked the largest decline of 9.9% during this timeframe.

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

Exports raw cane or beet sugar in solid form from Panama

Exports in kind, t

Panama's exports of raw cane or beet sugar in solid form declined for the second consecutive year. In 2020, the country exported 44 083 t, representing a moderate 4.4% decrease from 2019. Over the 2017-2020 period, exports increased by 16.8%, with an average annual growth rate of 5.3%. The highest export volume was recorded in 2018 at 51 566 t, which represented a substantial 36.7% increase from the previous year. The largest decline occurred in 2019, when exports fell by 10.6%.

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

From 2017 to 2020, the United States effectively monopolized Panama's exports of raw cane or beet sugar in solid form, accounting for 100.0% of total export flows.

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

Panama's export value for raw cane or beet sugar in solid form reached 25 896 K $ US in 2020, up by 4.1% compared to 2019. Over the 2017-2020 period, export value increased by 13.6%, with an average annual growth rate of 4.3%. The highest value was recorded in 2018 at 28 422 K $ US, which represented a 24.6% increase from the previous year. The largest decline occurred in 2019, when export value dropped by 12.5%.

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

Throughout 2017-2020, the United States served as the primary destination for Panama's raw cane or beet sugar in solid form exports, consistently absorbing 100.0% of total export value.

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

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

Imports raw cane or beet sugar in solid form to Panama

Imports in kind, t

Import volumes showed irregular changes, indicating a volatile market environment. The lowest import volume was recorded in 2017, while the highest was in 2018, reflecting an 11.3-fold difference between these years. In 2020, Panama imported 18 t of raw cane or beet sugar in solid form, representing an abrupt 73.1% decline compared to 2019. The largest increase occurred in 2018, when imports surged by 1 031.3%.

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

From 2017 to 2020, the United States remained the key source for Panama's imports of raw cane or beet sugar in solid form, accounting for 79.8% of total import 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 import market showed signs of volatility during the observed period. The lowest import value was recorded in 2017, while the highest occurred in 2018, with a peak-to-trough ratio of 6.9 times. In 2020, Panama imported approximately 6 K $ US of raw cane or beet sugar in solid form, down by 13.1% from the previous year. The largest decline occurred in 2019, when import value fell by 81.3%. The largest increase was recorded in 2018, when import value surged by 590.6%.

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

Throughout 2017-2020, the United States almost completely determined the geographical structure of Panama's imports of raw cane or beet sugar in solid form, accounting for 92.0% of total import flows in value terms.

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

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