Process a token from panel context in a ctools content type plugin
The magic function is ctools_context_keyword_substitute 

The key to getting this working is to make sure that you use the all contexts flag in your plugin configuration.

$plugin = array(
  'single' =&gt; TRUE,
  'title' =&gt; t('Instagram'),
  'category' =&gt; t('Content'),
  'all contexts' =&gt; TRUE,
);

/**
 * Render the custom content type.
 */
function MODULE_PANE_content_type_render($subtype, $conf, $panel_args, $context) {

  ....

  $replaced = ctools_context_keyword_substitute('your_string_with_%keywords', array(), $context);

  ....
}