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. Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Grain Production in Costa Rica

In value terms, grain production fell slightly to $X in 2022 estimated in export price. In general, the total production indicated a pronounced 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 was the most pronounced in 2019 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

In 2022, the average grain yield in Costa Rica declined slightly to X tons per ha, reducing by X% on 2021 figures. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded 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 remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the grain harvested area in Costa Rica expanded modestly to X ha, picking up by X% compared with the year before. In general, the harvested area, however, recorded a deep slump. The pace of growth appeared 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 cereal grains increased by X% to X tons, rising for the fourth consecutive year after two years of decline. In general, exports saw a remarkable increase. As a result, the exports reached 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 recorded a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Nicaragua (X tons) was the main destination for grain exports from Costa Rica, with a X% share of total exports. Moreover, grain exports to Nicaragua exceeded the volume sent to the second major destination, Panama (X tons), fivefold. The third position in this ranking was taken by Guatemala (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms 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 Guatemala (X% per year).

In value terms, Nicaragua ($X), Panama ($X) and Guatemala ($X) were 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%.

In terms of the main countries of destination, El Salvador, with a CAGR of X%, recorded 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 grain export price stood at $X per ton in 2022, declining by X% against the previous year. Over the period under review, the export price saw a deep setback. The growth pace was the most rapid in 2019 an increase of X%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Nicaragua ($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 Panama (X%), while the prices for the other major destinations experienced a decline.

Grain Imports

Imports into Costa Rica

In 2022, overseas purchases of cereal grains decreased by X% to X tons for the first time since 2014, thus ending a seven-year rising trend. Overall, total imports indicated a notable increase 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%. Over the period under review, imports reached the peak figure at X tons in 2021, and then declined significantly in the following year.

In value terms, grain imports rose modestly to $X in 2022. Over the period under review, total imports indicated a pronounced 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 most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

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. These countries were followed by Uruguay, which accounted 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 United States ($X), Brazil ($X) and Canada ($X) were the largest grain suppliers to Costa Rica, with a combined X% share of total imports. Uruguay lagged somewhat behind, accounting for a further X%.

In terms of the main suppliers, Uruguay, with a CAGR of X%, recorded the highest growth rate of 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

In 2022, the average grain import price amounted to $X per ton, growing by X% against the previous year. Over the period under review, import price indicated slight 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 pace of growth was the most pronounced in 2021 when the average import price increased by X%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were 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