Costa Rica: Lysine Market 2024

Lysine Market Size in Costa Rica

In 2022, after five years of growth, there was significant decline in the Costa Rican lysine market, when its value decreased by -13.5% to $X. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then contracted in the following year.

Lysine Exports

Exports from Costa Rica

In 2022, shipments abroad of lysine and its esters, and salts thereof decreased by -0.3% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, exports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 124%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then shrank modestly in the following year.

In value terms, lysine exports rose sharply to $X in 2022. In general, exports, however, saw resilient growth. The most prominent rate of growth was recorded in 2019 with an increase of 91%. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Panama (X tons) was the main destination for lysine exports from Costa Rica, accounting for a 87% share of total exports. Moreover, lysine exports to Panama exceeded the volume sent to the second major destination, the Netherlands (X tons), ninefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Panama amounted to +27.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+33.5% per year) and Guatemala (-4.4% per year).

In value terms, Panama ($X) remains the key foreign market for lysine and its esters, and salts thereof exports from Costa Rica, comprising 69% of total exports. The second position in the ranking was taken by Guatemala ($X), with a 22% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Panama totaled +7.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+4.2% per year) and the Netherlands (+19.7% per year).

Export Prices by Country

The average lysine export price stood at $X per ton in 2022, with an increase of 14% against the previous year. Over the period under review, the export price, however, faced a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when the average export price increased by 40% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to Panama ($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 Guatemala (+9.0%), while the prices for the other major destinations experienced a decline.

Lysine Imports

Imports into Costa Rica

In 2022, overseas purchases of lysine and its esters, and salts thereof decreased by -9.3% to X tons for the first time since 2015, thus ending a six-year rising trend. Over the period under review, imports, however, enjoyed a temperate increase. The growth pace was the most rapid in 2019 when imports increased by 29%. Imports peaked at X tons in 2021, and then declined in the following year.

In value terms, lysine imports declined to $X in 2022. In general, imports continue to indicate a slight decline. The pace of growth appeared the most rapid in 2021 with an increase of 41%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest lysine supplier to Costa Rica, with a 62% share of total imports. Moreover, lysine imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X tons), threefold. The third position in this ranking was taken by Canada (X tons), with a 6.1% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +18.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-4.6% per year) and Canada (+37.0% per year).

In value terms, China ($X) constituted the largest supplier of lysine and its esters, and salts thereof to Costa Rica, comprising 59% of total imports. The second position in the ranking was taken by Brazil ($X), with a 20% share of total imports. It was followed by Guatemala, with a 6.3% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +15.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-10.0% per year) and Guatemala (+32.1% per year).

Import Prices by Country

In 2022, the average lysine import price amounted to $X per ton, falling by -5.8% against the previous year. In general, the import price continues to indicate a perceptible reduction. The pace of growth was the most pronounced in 2021 an increase of 14%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 the United States ($X per ton), while the price for Canada ($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 (+3.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform