Castor Oil Seed Price in Panama - 2023
Contents:
Castor Oil Seed Price in Panama (CIF) - 2022
In 2022, the average castor oil seed import price amounted to $4,279 per ton, dropping by -6.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2014 an increase of 16% against the previous year. Over the period under review, average import prices attained the maximum at $4,611 per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($5,986 per ton), while the price for Costa Rica amounted to $4,217 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+44.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Castor Oil Seed Imports in Panama
In 2022, purchases abroad of castor oil seed decreased by -47.3% to 14 tons, falling for the second year in a row after two years of growth. Overall, imports showed a sharp contraction. The most prominent rate of growth was recorded in 2020 with an increase of 17% against the previous year. As a result, imports reached the peak of 41 tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, castor oil seed imports reduced rapidly to $62K in 2022. In general, imports recorded a sharp shrinkage. The most prominent rate of growth was recorded in 2020 when imports increased by 22% against the previous year. As a result, imports reached the peak of $190K. From 2021 to 2022, the growth of imports failed to regain momentum.
| Import of Castor Oil Seed in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Costa Rica | 101 | 128 | 91.8 | 58.9 | -16.5% |
| United States | N/A | N/A | 0.1 | 3.1 | 3000.0% |
| South Korea | 10.4 | 21.9 | N/A | N/A | 110.6% |
| China | N/A | N/A | 19.8 | N/A | 0% |
| India | 43.4 | 40.0 | 14.2 | N/A | -42.8% |
| Others | 1.2 | N/A | N/A | N/A | 0% |
| Total | 155 | 190 | 126 | 61.9 | -26.4% |
Top Suppliers of Castor Oil Seed to Panama in 2022:
- Costa Rica (14.0 tons)
- United States (0.5 tons)
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