Salts; Molybdates Price in Panama - 2023

Salts; Molybdates Price in Panama (CIF) - 2022

In 2022, the average salts; molybdates import price amounted to $79,625 per ton, with an increase of 17% against the previous year. Over the period under review, the import price showed a significant expansion. The most prominent rate of growth was recorded in 2014 when the average import price increased by 298% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($81,214 per ton), while the price for Spain stood at $68,500 per ton.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+115.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Salts; Molybdates Price in Panama (FOB) - 2022

The average salts; molybdates export price stood at $43,033 per ton in 2022, waning by -4.4% against the previous year. In general, the export price, however, continues to indicate a resilient expansion. The pace of growth was the most pronounced in 2019 when the average export price increased by 65%. Over the period under review, the average export prices hit record highs at $45,017 per ton in 2021, and then shrank modestly in the following year.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($43,133 per ton), while the average price for exports to Colombia stood at $42,633 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Costa Rica (+344.1%), while the prices for the other major destinations experienced more modest paces of growth.

Salts; Molybdates Imports in Panama

For the third year in a row, Panama recorded decline in supplies from abroad of salts; molybdateses, which decreased by -5.9% to 16 kg in 2022. Over the period under review, imports continue to indicate a precipitous decline.

In value terms, salts; molybdates imports expanded notably to $1.3K in 2022. The total import value increased at an average annual rate of +7.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 27% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Import of Salts; Molybdates in Panama (USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	83.0	41.0	22.0	1,137	139.3%
Spain	216	89.0	6.0	137	-14.1%
China	644	740	375	N/A	-23.7%
Brazil	N/A	N/A	721	N/A	0%
Others	81.0	40.0	30.0	N/A	-39.1%
Total	1,024	910	1,154	1,274	7.6%

Top Suppliers of Salts; Molybdates to Panama in 2022:

Germany (14.0 kg)
Spain (2.0 kg)

Salts; Molybdates Exports in Panama

In 2022, shipments abroad of salts; molybdateses was finally on the rise to reach 244 kg after two years of decline. Overall, exports, however, recorded a deep downturn.

In value terms, salts; molybdates exports reduced slightly to $11K in 2022. The total export value increased at an average annual rate of +2.5% from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2020 when exports increased by 5.1% against the previous year.