Browse Data and Analysis

This report offers U.S. exporters of agricultural and related products valuable insights on conducting business in Panama. In 2024, exports of U.S. agricultural and related products to Panama reached approximately $942.6 million.

Thai rice exports declined amid rising global supply and lower imports by major buyers. While fragrant rice prices saw a slight rise, prices for most other grades fell.

Thailand offers strong potential for U.S. agricultural exports, which reached $1.4 billion in 2024. The United States ranked as Thailand’s 9th largest supplier of consumer-oriented products, with $429 million in exports.

Thai rice export prices are trending up, with the premium grades, such as Hom Mali rice, showing the most significant increase.

Thailand’s Department of Fisheries (DOF) has established procedures to certify aquatic animals developed through genome editing technology for domestic research and development, production, and/or distribution.

Changes to Panama's import requirements reflected in this report are for pork, dairy products, seafood and rice. A new law establishes the inspections and food safety regulations for food products.

Panama recognizes the certificates and standards of the U.S. regulatory and sanitary inspection system, based on the United States – Panama Agreement regarding certain Sanitary and Phytosanitary measures and Technical Standards affecting Trade in Agricultural products, of December 20, 2006, simplifying requirements for the importation of U.S. food and feed products. Panama accepts electronic certificates.

Thai export rice prices experienced downward pressure and then slightly recovered after Songkran holidays, reflecting tariff changes and adjustments in the global rice market.

MY 2025/26 sugar production is expected to further increase 2 percent from MY 2024/25. MY 2024/25 sugar demand by industrial uses is likely to decline significantly due to the Chinese ban on Thai sugar syrup exports.

FAS Bangkok forecasts stability, with modest growth expected in rice and corn production, supported by favorable weather and strong domestic demand.

MY 2025/26 soybean crushing demand to grow at a slower pace of two percent due to slow economic recovery with uncertainties from the U.S. reciprocal tariff measures.

This report provides information to U.S. exporters of agricultural and related products on how to do business with the Food Processing industry in Panama. It is primarily a service – based economy, but food processing is one of its top industries.