Costa Rica: Cocoa Bean Market 2025

Cocoa Bean Market Size in Costa Rica

The Costa Rican cocoa bean market shrank to $X in 2022, reducing by -11.3% against the previous year. Over the period under review, consumption recorded a mild curtailment. Cocoa bean consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Cocoa Bean Production in Costa Rica

In value terms, cocoa bean production reduced to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.0% 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 2013 with an increase of 36% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

In 2022, the average yield of cocoa beans in Costa Rica shrank to X kg per ha, therefore, remained relatively stable against the previous year's figure. Overall, the yield showed a slight contraction. The most prominent rate of growth was recorded in 2016 with an increase of 22% against the previous year. As a result, the yield reached the peak level of X kg per ha. From 2017 to 2022, the growth of the average cocoa bean 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, approx. X ha of cocoa beans were harvested in Costa Rica; approximately equating the previous year. Over the period under review, the total harvested area indicated a tangible increase from 2012 to 2022: its figure increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cocoa bean harvested area decreased by -4.3% against 2019 indices. The pace of growth was the most pronounced in 2019 when the harvested area increased by 49%. As a result, the harvested area reached the peak level of X ha. From 2020 to 2022, the growth of the cocoa bean harvested area failed to regain momentum.

Cocoa Bean Exports

Exports from Costa Rica

In 2022, the amount of cocoa beans exported from Costa Rica rose significantly to X tons, with an increase of 12% on the previous year. In general, total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +6.3% 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 -10.3% against 2020 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 60%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, cocoa bean exports expanded slightly to $X in 2022. Over the period under review, total exports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +8.4% 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 -3.4% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 74%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Panama (X tons), Switzerland (X tons) and Belgium (X tons) were the main destinations of cocoa bean exports from Costa Rica, with a combined 55% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Switzerland (with a CAGR of +38.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cocoa bean exported from Costa Rica were Switzerland ($X), Belgium ($X) and Panama ($X), with a combined 55% share of total exports.

In terms of the main countries of destination, Switzerland, with a CAGR of +41.4%, 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 cocoa bean export price stood at $X per ton in 2022, waning by -7.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The pace of growth was the most pronounced in 2013 an increase of 36% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Guatemala ($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 (+3.2%), while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Bean Imports

Imports into Costa Rica

In 2022, overseas purchases of cocoa beans increased by 31% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, saw a perceptible reduction. The pace of growth was the most pronounced in 2019 with an increase of 697% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, cocoa bean imports expanded remarkably to $X in 2022. Overall, imports, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 630% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Nicaragua (X tons) constituted the largest supplier of cocoa bean to Costa Rica, with a 52% share of total imports. Moreover, cocoa bean imports from Nicaragua exceeded the figures recorded by the second-largest supplier, Honduras (X tons), fourfold. Guatemala (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Nicaragua stood at -5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Honduras (-15.1% per year) and Guatemala (-36.5% per year).

In value terms, Nicaragua ($X), El Salvador ($X) and Guatemala ($X) constituted the largest cocoa bean suppliers to Costa Rica, with a combined 71% share of total imports.

Among the main suppliers, El Salvador, with a CAGR of +85.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average cocoa bean import price stood at $X per ton in 2022, with a decrease of -14% against the previous year. In general, the import price showed a pronounced downturn. The pace of growth appeared the most rapid in 2021 when the average import price increased by 29%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Honduras (+10.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform