Costa Rica: Meat Market 2024

Meat Market Size in Costa Rica

The Costa Rican meat market shrank modestly to $X in 2022, leveling off at the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Meat consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Meat Production in Costa Rica

In value terms, meat production reduced modestly to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

The average yield of meat in Costa Rica totaled X kg per head in 2022, remaining stable against 2021. Over the period under review, the yield, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the yield increased by X%. Over the period under review, the average meat yield attained the peak level at X kg per head in 2012; however, from 2013 to 2022, the yield failed to regain momentum.

In 2022, number of animals slaughtered for meat production in Costa Rica fell slightly to X heads, with a decrease of X% compared with the previous year. This number increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, this number reached the peak level at X heads in 2021, and then contracted in the following year.

Meat Exports

Exports from Costa Rica

In 2022, shipments abroad of meat decreased by X% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, exports, however, recorded resilient growth. The pace of growth appeared the most rapid in 2019 with an increase of X%. The exports peaked at X tons in 2021, and then shrank in the following year.

In value terms, meat exports rose modestly to $X in 2022. In general, exports, however, continue to indicate a strong increase. The pace of growth appeared the most rapid in 2019 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

China (X tons) was the main destination for meat exports from Costa Rica, accounting for a X% share of total exports. Moreover, meat exports to China exceeded the volume sent to the second major destination, the United States (X tons), threefold. The third position in this ranking was taken by Jamaica (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Jamaica (X% per year).

In value terms, China ($X) remains the key foreign market for meat exports from Costa Rica, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by Jamaica, with a X% share.

From 2012 to 2022, the average annual growth rate of value to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Jamaica (X% per year).

Export Prices by Country

In 2022, the average meat export price amounted to $X per ton, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see gradual growth in years to come.

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 El Salvador ($X per ton), while the average price for exports to Panama ($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 Jamaica (X%), while the prices for the other major destinations experienced more modest paces of growth.

Meat Imports

Imports into Costa Rica

In 2022, approx. X tons of meat were imported into Costa Rica; with a decrease of X% compared with the previous year. Overall, imports, however, showed a buoyant expansion. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then declined in the following year.

In value terms, meat imports contracted modestly to $X in 2022. Over the period under review, imports, however, enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2015 with an increase of X%. Imports peaked at $X in 2021, and then reduced slightly in the following year.

Imports by Country

In 2022, the United States (X tons) constituted the largest meat supplier to Costa Rica, with a X% share of total imports. Moreover, meat imports from the United States exceeded the figures recorded by the second-largest supplier, Chile (X tons), twofold. The third position in this ranking was held by Nicaragua (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (X% per year) and Nicaragua (X% per year).

In value terms, the United States ($X), Nicaragua ($X) and Chile ($X) were the largest meat suppliers to Costa Rica, with a combined X% share of total imports.

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

Import Prices by Country

In 2022, the average meat import price amounted to $X per ton, increasing by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 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 Nicaragua ($X per ton), while the price for Chile ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform