Report Update Nov 1, 2024

Costa Rica - Durum Wheat - Market Analysis, Forecast, Size, Trends and Insights

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Costa Rica: Durum Wheat Market 2024

Durum Wheat Market Size in Costa Rica

The Costa Rican durum wheat market shrank significantly to $X in 2022, dropping by -32.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a drastic downturn. Durum wheat consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Durum Wheat Exports

Exports from Costa Rica

In 2018, after two years of growth, there was significant decline in shipments abroad of durum wheat, when their volume decreased by -99% to X tons. In general, exports showed a sharp decline. The growth pace was the most rapid in 2017 when exports increased by 2,722%. As a result, the exports attained the peak of X tons, and then reduced markedly in the following year.

In value terms, durum wheat exports dropped notably to $X in 2018. Overall, exports recorded a significant decline. The pace of growth was the most pronounced in 2017 when exports increased by 3,249%. As a result, the exports attained the peak of $X, and then declined remarkably in the following year.

Exports by Country

Colombia (X kg) was the main destination for durum wheat exports from Costa Rica, with a 77% share of total exports. Moreover, durum wheat exports to Colombia exceeded the volume sent to the second major destination, France (X kg), ninefold. The Dominican Republic (X kg) ranked third in terms of total exports with a 4.4% share.

From 2016 to 2018, the average annual rate of growth in terms of volume to Colombia stood at -21.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+42.9% per year) and the Dominican Republic (-80.3% per year).

In value terms, Colombia ($X) emerged as the key foreign market for durum wheat exports from Costa Rica, comprising 77% of total exports. The second position in the ranking was taken by El Salvador ($X), with an 11% share of total exports. It was followed by the Dominican Republic, with a 4.3% share.

From 2016 to 2018, the average annual rate of growth in terms of value to Colombia stood at +16.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (0.0% per year) and the Dominican Republic (-84.2% per year).

Export Prices by Country

In 2018, the average durum wheat export price amounted to $X per ton, waning by -11.7% against the previous year. Over the last two years, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2017 when the average export price increased by 19% against the previous year. As a result, the export price reached the peak level of $X per ton, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was El Salvador ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2016 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+48.8%), while the prices for the other major destinations experienced mixed trend patterns.

Durum Wheat Imports

Imports into Costa Rica

In 2022, overseas purchases of durum wheat decreased by -39.7% to X tons, falling for the fifth year in a row after two years of growth. In general, imports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2017 with an increase of 36%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, durum wheat imports shrank significantly to $X in 2022. Over the period under review, imports recorded a deep slump. The most prominent rate of growth was recorded in 2017 when imports increased by 33% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Canada (X tons) and the United States (X tons) were the main suppliers of durum wheat imports to Costa Rica.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Canada (with a CAGR of +0.7%).

In value terms, Canada ($X) constituted the largest supplier of durum wheat to Costa Rica, comprising 76% of total imports. The second position in the ranking was held by the United States ($X), with a 24% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Canada totaled +4.9%.

Import Prices by Country

In 2022, the average durum wheat import price amounted to $X per ton, with an increase of 21% against the previous year. Overall, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, durum wheat import price increased by +90.4% against 2017 indices. The pace of growth appeared the most rapid in 2021 an increase of 36% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

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 Canada ($X per ton), while the price for the United States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+4.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

This report provides an in-depth analysis of the durum wheat market in Costa Rica. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 15 - Wheat

Country coverage:

Costa Rica

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Costa Rica
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023