Costa Rica: Groundnuts Market 2024

Groundnuts Market Size in Costa Rica

For the third year in a row, the Costa Rican groundnuts market recorded growth in sales value, which increased by X% to $X in 2022. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. Groundnuts consumption peaked in 2022 and is likely to continue growth in the immediate term.

Groundnuts Production in Costa Rica

In value terms, groundnuts production declined to $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt descent. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

The average yield of ground-nut (in-shell) in Costa Rica shrank to X tons per ha in 2022, almost unchanged from the year before. In general, the yield showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the yield increased by X%. The groundnuts yield peaked at X tons per ha in 2015; afterwards, it flattened through to 2022. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of ground-nut (in-shell) in Costa Rica amounted to X ha, remaining relatively unchanged against the previous year's figure. Over the period under review, the harvested area continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. The groundnuts harvested area peaked at X ha in 2020; however, from 2021 to 2022, the harvested area stood at a somewhat lower figure.

Groundnuts Exports

Exports from Costa Rica

In 2022, shipments abroad of ground-nut (in-shell) was finally on the rise to reach X tons after two years of decline. In general, exports enjoyed significant growth. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, groundnuts exports surged to $X in 2022. Over the period under review, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Austria (X tons) was the main destination for groundnuts exports from Costa Rica, accounting for a X% share of total exports. Moreover, groundnuts exports to Austria exceeded the volume sent to the second major destination, Canada (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Austria stood at X%.

In value terms, Austria ($X) remains the key foreign market for ground-nut (in-shell) exports from Costa Rica, comprising X% of total exports. The second position in the ranking was taken by Canada ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Austria stood at X%.

Export Prices by Country

In 2022, the average groundnuts export price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the export price, however, showed a abrupt downturn. The growth pace was the most rapid in 2017 an increase of X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Canada totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Austria (X%).

Groundnuts Imports

Imports into Costa Rica

In 2022, approx. X tons of ground-nut (in-shell) were imported into Costa Rica; dropping by X% on the year before. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by X%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, groundnuts imports amounted to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, the United States (X tons) was the main groundnuts supplier to Costa Rica, with a X% share of total imports. Moreover, groundnuts imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at X%.

In value terms, the United States ($X) constituted the largest supplier of ground-nut (in-shell) to Costa Rica, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States totaled X%.

Import Prices by Country

In 2022, the average groundnuts import price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for the United States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%).

Source: IndexBox Platform

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