Costa Rica: Butter And Ghee Market 2024

Butter And Ghee Market Size in Costa Rica

In 2022, the Costa Rican butter and ghee market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption enjoyed resilient growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Butter And Ghee Production in Costa Rica

In value terms, butter and ghee production expanded modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Butter And Ghee Exports

Exports from Costa Rica

After two years of growth, overseas shipments of butter and ghee decreased by X% to X tons in 2022. In general, total exports indicated a modest expansion 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 most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2021, and then declined notably in the following year.

In value terms, butter and ghee exports fell to $X in 2022. Over the period under review, total exports indicated a remarkable increase 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, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2021, and then dropped in the following year.

Exports by Country

Guatemala (X tons), El Salvador (X tons) and Nicaragua (X tons) were the main destinations of butter and ghee exports from Costa Rica, with a combined X% share of total exports.

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

In value terms, El Salvador ($X), Guatemala ($X) and Nicaragua ($X) constituted the largest markets for butter and ghee exported from Costa Rica worldwide, with a combined X% share of total exports.

Among the main countries of destination, El Salvador, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average butter and ghee export price stood at $X per ton in 2022, surging by X% against the previous year. In general, export price indicated pronounced 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, butter and ghee export price increased by X% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 El Salvador ($X per ton), while the average price for exports to the United States ($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 Panama (X%), while the prices for the other major destinations experienced more modest paces of growth.

Butter And Ghee Imports

Imports into Costa Rica

In 2022, supplies from abroad of butter and ghee was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports continue to indicate prominent growth. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, butter and ghee imports surged to $X in 2022. In general, imports posted a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest supplier of butter and ghee to Costa Rica, accounting for a X% share of total imports. Moreover, butter and ghee imports from New Zealand exceeded the figures recorded by the second-largest supplier, the United States (X tons), sixfold. The third position in this ranking was taken by Denmark (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from New Zealand stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Denmark (X% per year).

In value terms, New Zealand ($X) constituted the largest supplier of butter and ghee to Costa Rica, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by Denmark, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from New Zealand amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Denmark (X% per year).

Import Prices by Country

In 2022, the average butter and ghee import price amounted to $X per ton, picking up by X% against the previous year. In general, import price indicated prominent 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, butter and ghee import price increased by X% against 2020 indices. The growth pace was the most rapid in 2017 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is likely to continue 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 Denmark ($X per ton) and the United States ($X per ton), while the price for Australia ($X per ton) and Brazil ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform