Costa Rica: Maize Market 2025

Maize Market Size in Costa Rica

The Costa Rican maize market soared to $X in 2022, jumping by 25% against the previous year. In general, consumption, however, saw a pronounced slump. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Maize Production in Costa Rica

In value terms, maize production rose modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when the production volume increased by 15%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

In 2022, the average maize yield in Costa Rica totaled less than X kg per ha, flattening at 2021. Over the period under review, the yield continues to indicate 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 maize (green) were harvested in Costa Rica; approximately mirroring the previous year's figure. Overall, the harvested area continues to indicate a relatively flat trend pattern.

Maize Exports

Exports from Costa Rica

In 2022, exports of maize (green) from Costa Rica shrank to X tons, falling by -2.8% compared with 2021. The total export volume increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 24% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, maize exports contracted to $X in 2022. Overall, total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +56.3% against 2015 indices. The most prominent rate of growth was recorded in 2013 with an increase of 38%. Over the period under review, the exports hit record highs at $X in 2021, and then declined in the following year.

Exports by Country

The United States (X tons) was the main destination for maize exports from Costa Rica, with a 78% share of total exports. Moreover, maize exports to the United States exceeded the volume sent to the second major destination, Canada (X tons), more than tenfold. The third position in this ranking was taken by Spain (X tons), with a 4% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+3.4% per year) and Spain (+26.7% per year).

In value terms, the United States ($X) remains the key foreign market for maize (green) exports from Costa Rica, comprising 78% of total exports. The second position in the ranking was taken by Canada ($X), with a 5.1% share of total exports. It was followed by the Netherlands, with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +6.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+0.6% per year) and the Netherlands (+1.5% per year).

Export Prices by Country

The average maize export price stood at $X per ton in 2022, which is down by -1.6% against the previous year. Over the last decade, it increased at an average annual rate of +3.2%. The most prominent rate of growth was recorded in 2017 when the average export price increased by 17% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then reduced in the following year.

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 France ($X per ton), while the average price for exports to Canada ($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 the UK (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.

Maize Imports

Imports into Costa Rica

In 2022, the amount of maize (green) imported into Costa Rica contracted markedly to X tons, waning by -41.9% compared with the year before. Overall, imports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 1,658% against the previous year. As a result, imports reached the peak of X tons, and then declined sharply in the following year.

In value terms, maize imports contracted significantly to $X in 2022. Over the period under review, imports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 379%. As a result, imports attained the peak of $X, and then declined notably in the following year.

Imports by Country

In 2022, Nicaragua (X tons) was the main supplier of maize to Costa Rica, accounting for a 93% share of total imports. It was followed by Honduras (X tons), with a 3% share of total imports. The Netherlands (X tons) ranked third in terms of total imports with a 1.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Nicaragua stood at +75.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Honduras (+15.3% per year) and the Netherlands (+122.8% per year).

In value terms, Nicaragua ($X) constituted the largest supplier of maize (green) to Costa Rica, comprising 70% of total imports. The second position in the ranking was taken by the Netherlands ($X), with an 11% share of total imports. It was followed by Guatemala, with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Nicaragua stood at +72.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+142.2% per year) and Guatemala (-0.8% per year).

Import Prices by Country

In 2022, the average maize import price amounted to $X per ton, growing by 3.9% against the previous year. Overall, the import price, however, recorded a deep slump. The pace of growth was the most pronounced in 2018 an increase of 63%. Over the period under review, average import prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a 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 Guatemala ($X per ton), while the price for Nicaragua ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform