Costa Rica: Grain Market 2024

Grain Market Size in Costa Rica

For the third consecutive year, the Costa Rican grain market recorded growth in sales value, which increased by X% to $X in 2022. Over the period under review, the total consumption indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2019 indices. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the near future.

Grain Production in Costa Rica

In value terms, grain production shrank modestly to $X in 2022 estimated in export price. In general, the total production indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by X%. Grain production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of grain in Costa Rica shrank modestly to X tons per ha, waning by X% compared with the previous year. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, the yield attained the peak level of X tons per ha. From 2015 to 2022, the growth of the average grain yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The grain harvested area in Costa Rica rose to X ha in 2022, picking up by X% on the previous year's figure. Over the period under review, the harvested area, however, saw a abrupt decrease. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2014 to 2022, the growth of the grain harvested area failed to regain momentum.

Grain Exports

Exports from Costa Rica

In 2022, shipments abroad of grain increased by X% to X tons, rising for the fourth year in a row after three years of decline. In general, exports posted a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, grain exports surged to $X in 2022. Over the period under review, exports showed a strong increase. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Nicaragua (X tons) was the main destination for grain exports from Costa Rica, accounting for a X% share of total exports. Moreover, grain exports to Nicaragua exceeded the volume sent to the second major destination, Panama (X tons), fivefold. El Salvador (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Nicaragua stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (X% per year) and El Salvador (X% per year).

In value terms, Nicaragua ($X), Panama ($X) and Guatemala ($X) constituted the largest markets for grain exported from Costa Rica worldwide, with a combined X% share of total exports. These countries were followed by El Salvador, which accounted for a further X%.

El Salvador, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average grain export price stood at $X per ton in 2022, with a decrease of X% against the previous year. Over the period under review, the export price recorded a perceptible setback. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to Nicaragua ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (X%), while the prices for the other major destinations experienced mixed trend patterns.

Grain Imports

Imports into Costa Rica

In 2022, overseas purchases of grain decreased by X% to X tons for the first time since 2014, thus ending a seven-year rising trend. In general, total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when imports increased by X%. Imports peaked at X tons in 2021, and then fell remarkably in the following year.

In value terms, grain imports rose modestly to $X in 2022. Overall, total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

The United States (X tons), Brazil (X tons) and Canada (X tons) were the main suppliers of grain imports to Costa Rica, with a combined X% share of total imports. Uruguay lagged somewhat behind, accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Uruguay (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest grain suppliers to Costa Rica were the United States ($X), Brazil ($X) and Canada ($X), together accounting for X% of total imports. These countries were followed by Uruguay, which accounted for a further X%.

Among the main suppliers, Uruguay, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average grain import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, grain import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Canada ($X per ton) and Uruguay ($X per ton), while the price for the United States ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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