Costa Rica: Cheese And Curd Market 2024

Cheese And Curd Market Size in Costa Rica

In 2022, the Costa Rican cheese and curd market decreased by -0.5% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +7.7% 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 +2.2% against 2019 indices. Cheese and curd consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Cheese And Curd Production in Costa Rica

In value terms, cheese and curd production stood at $X in 2022 estimated in export price. In general, the total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +7.3% 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 +0.6% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 72%. Cheese and curd production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Cheese And Curd Exports

Exports from Costa Rica

In 2022, overseas shipments of cheese and curd were finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Overall, total exports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -27.4% against 2018 indices. The pace of growth appeared the most rapid in 2015 with an increase of 38% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, cheese and curd exports rose remarkably to $X in 2022. Over the period under review, total exports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -40.0% against 2017 indices. The pace of growth appeared the most rapid in 2015 when exports increased by 29%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Guatemala (X tons) was the main destination for cheese and curd exports from Costa Rica, accounting for a 55% share of total exports. Moreover, cheese and curd exports to Guatemala exceeded the volume sent to the second major destination, Panama (X tons), fourfold. Nicaragua (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Guatemala amounted to +3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-3.1% per year) and Nicaragua (+0.7% per year).

In value terms, Guatemala ($X) remains the key foreign market for cheese and curd exports from Costa Rica, comprising 46% of total exports. The second position in the ranking was taken by Panama ($X), with an 18% share of total exports. It was followed by El Salvador, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Guatemala totaled +1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+2.5% per year) and El Salvador (+3.5% per year).

Export Prices by Country

In 2022, the average cheese and curd export price amounted to $X per ton, almost unchanged from the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 13% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices remained 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 Panama ($X per ton), while the average price for exports to Guatemala ($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 (+5.7%), while the prices for the other major destinations experienced more modest paces of growth.

Cheese And Curd Imports

Imports into Costa Rica

In 2022, the amount of cheese and curd imported into Costa Rica dropped modestly to X tons, stabilizing at the previous year. Over the period under review, total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +6.1% 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 +1.3% against 2020 indices. The pace of growth was the most pronounced in 2016 when imports increased by 22%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, cheese and curd imports contracted to $X in 2022. Overall, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +7.1% 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 +98.8% against 2012 indices. The most prominent rate of growth was recorded in 2016 with an increase of 23%. Over the period under review, imports reached the maximum at $X in 2021, and then dropped slightly in the following year.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of cheese and curd to Costa Rica, with a 61% share of total imports. Moreover, cheese and curd imports from the United States exceeded the figures recorded by the second-largest supplier, Panama (X tons), sixfold. El Salvador (X tons) ranked third in terms of total imports with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at +9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (-8.6% per year) and El Salvador (+85.3% per year).

In value terms, the United States ($X) constituted the largest supplier of cheese and curd to Costa Rica, comprising 62% of total imports. The second position in the ranking was held by Panama ($X), with an 8.6% share of total imports. It was followed by El Salvador, with a 7% share.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to +10.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (-8.6% per year) and El Salvador (+80.9% per year).

Import Prices by Country

In 2022, the average cheese and curd import price amounted to $X per ton, falling by -1.8% against the previous year. In general, the import price, however, showed a slight increase. The pace of growth appeared the most rapid in 2014 an increase of 8.6%. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then fell modestly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform