Costa Rica: Market for Malt Extract And Food Preparations Of Flour, Meal, And Starch 2024

Market Size for Malt Extract And Food Preparations Of Flour, Meal, And Starch in Costa Rica

The Costa Rican market for malt extract and food preparations of flour, meal, and starches contracted slightly to $X in 2022, remaining constant against the previous year. The market value increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Malt Extract And Food Preparations Of Flour, Meal, And Starch in Costa Rica

In value terms, production of malt extract and food preparations of flour, meal, and starches rose slightly to $X in 2022 estimated in export price. In general, production, however, posted a resilient increase. The pace of growth was the most pronounced in 2013 when the production volume increased by 50%. Over the period under review, production of reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Malt Extract And Food Preparations Of Flour, Meal, And Starch

Exports from Costa Rica

In 2022, shipments abroad of malt extract and food preparations of flour, meal, and starches was finally on the rise to reach X tons after two years of decline. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 93% against the previous year. Over the period under review, the exports of attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, exports of malt extract and food preparations of flour, meal, and starches fell to $X in 2022. Over the period under review, exports posted a strong increase. The most prominent rate of growth was recorded in 2014 when exports increased by 62%. The exports peaked at $X in 2021, and then reduced modestly in the following year.

Exports by Country

Guatemala (X tons), Nicaragua (X tons) and El Salvador (X tons) were the main destinations of exports of malt extract and food preparations of flour, meal, and starches from Costa Rica, with a combined 89% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Guatemala (with a CAGR of +59.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Nicaragua ($X), Guatemala ($X) and El Salvador ($X) constituted the largest markets for malt extract and food preparations of flour, meal, and starch exported from Costa Rica worldwide, with a combined 81% share of total exports.

Guatemala, with a CAGR of +45.6%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for malt extract and food preparations of flour, meal, and starches amounted to $X per ton, which is down by -5.5% against the previous year. Overall, the export price saw a perceptible contraction. The pace of growth appeared the most rapid in 2020 an increase of 15% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a 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 Panama ($X per ton), while the average price for exports to Guatemala ($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 Honduras (+1.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Malt Extract And Food Preparations Of Flour, Meal, And Starch

Imports into Costa Rica

In 2022, purchases abroad of malt extract and food preparations of flour, meal, and starches decreased by -0.5% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +34.6% against 2018 indices. The pace of growth appeared the most rapid in 2019 with an increase of 28% against the previous year. Imports peaked at X tons in 2021, and then declined modestly in the following year.

In value terms, imports of malt extract and food preparations of flour, meal, and starches expanded to $X in 2022. The total import value increased at an average annual rate of +2.4% 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 2014 with an increase of 31% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Chile (X tons), the Netherlands (X tons) and Canada (X tons) were the main suppliers of imports of malt extract and food preparations of flour, meal, and starches to Costa Rica, together accounting for 37% of total imports. The United States, Malaysia, Ukraine, Mexico, Ireland, Lithuania, Argentina and Brazil lagged somewhat behind, together comprising a further 53%.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +285.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Chile ($X) and the United States ($X) constituted the largest malt extract and food preparations of flour, meal, and starch suppliers to Costa Rica, together comprising 43% of total imports. Canada, Malaysia, Ireland, Mexico, Lithuania, Ukraine, Argentina and Brazil lagged somewhat behind, together accounting for a further 42%.

Among the main suppliers, Malaysia, with a CAGR of +310.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for malt extract and food preparations of flour, meal, and starches stood at $X per ton in 2022, growing by 3.5% against the previous year. In general, the import price, however, saw a mild reduction. The most prominent rate of growth was recorded in 2014 an increase of 13%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+19.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform