Costa Rica: Cherry Market 2024

Cherry Market Size in Costa Rica

The Costa Rican cherry market skyrocketed to $X in 2022, increasing by 30% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Cherry Production in Costa Rica

In value terms, cherry production totaled $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume decreased by 99.9%. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

In 2022, the average cherry yield in Costa Rica was estimated at less than X kg per ha, remaining constant against the previous year. In general, the yield recorded a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. less than X ha of cherries were harvested in Costa Rica; therefore, remained relatively stable against 2021 figures. Overall, the harvested area showed a relatively flat trend pattern.

Cherry Exports

Exports from Costa Rica

In 2022, after four years of growth, there was decline in overseas shipments of cherries, when their volume decreased by -3.7% to X tons. Over the period under review, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 1,039%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, cherry exports dropped markedly to $X in 2022. Overall, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2018 when exports increased by 974%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Austria (X tons) was the main destination for cherry exports from Costa Rica, with a 95% share of total exports. Moreover, cherry exports to Austria exceeded the volume sent to the second major destination, Switzerland (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Austria stood at +105.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+57.2% per year) and Nicaragua (+43.1% per year).

In value terms, Austria ($X) remains the key foreign market for cherries exports from Costa Rica, comprising 93% of total exports. The second position in the ranking was taken by Nicaragua ($X), with a 3.5% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Austria stood at +100.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (+62.7% per year) and Switzerland (+48.7% per year).

Export Prices by Country

In 2022, the average cherry export price amounted to $X per ton, shrinking by -11.8% against the previous year. Overall, the export price, however, saw a moderate expansion. The pace of growth appeared the most rapid in 2014 an increase of 142%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Nicaragua ($X per ton), while the average price for exports to Switzerland ($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 Nicaragua (+13.7%), while the prices for the other major destinations experienced a decline.

Cherry Imports

Imports into Costa Rica

After two years of decline, purchases abroad of cherries increased by 17% to X tons in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 155% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, cherry imports skyrocketed to $X in 2022. Overall, imports saw a mild increase. The growth pace was the most rapid in 2018 when imports increased by 140%. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Chile (X tons) constituted the largest supplier of cherry to Costa Rica, with a 72% share of total imports. Moreover, cherry imports from Chile exceeded the figures recorded by the second-largest supplier, the United States (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume from Chile totaled +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-12.4% per year) and Spain (+11.5% per year).

In value terms, Chile ($X) constituted the largest supplier of cherries to Costa Rica, comprising 56% of total imports. The second position in the ranking was taken by Spain ($X), with a 22% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Chile amounted to +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+12.9% per year) and the United States (-5.9% per year).

Import Prices by Country

The average cherry import price stood at $X per ton in 2022, with an increase of 8.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The growth pace was the most rapid in 2020 when the average import price increased by 26%. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+7.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform