Costa Rica: Piper Pepper Market 2024

Piper Pepper Market Size in Costa Rica

The Costa Rican piper pepper market shrank to $X in 2022, waning by -10.3% against the previous year. Over the period under review, consumption, however, continues to indicate a modest increase. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Piper Pepper Production in Costa Rica

In value terms, piper pepper production fell to $X in 2022 estimated in export price. Overall, production showed a perceptible expansion. The most prominent rate of growth was recorded in 2014 when the production volume increased by 250%. Piper pepper production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

The average yield of piper pepper in Costa Rica reached X tons per ha in 2022, rising by 2.8% compared with 2021. In general, the yield, however, saw a mild slump. The most prominent rate of growth was recorded in 2014 when the yield increased by 51%. As a result, the yield attained the peak level of X tons per ha. From 2015 to 2022, the growth of the average piper pepper yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of piper pepper production in Costa Rica reduced slightly to X ha, almost unchanged from 2021 figures. In general, the harvested area, however, continues to indicate a measured expansion. The pace of growth was the most pronounced in 2016 with an increase of 85% against the previous year. The piper pepper harvested area peaked at X ha in 2018; however, from 2019 to 2022, the harvested area stood at a somewhat lower figure.

Piper Pepper Exports

Exports from Costa Rica

Piper pepper exports from Costa Rica expanded remarkably to X tons in 2022, picking up by 11% against the year before. Over the period under review, exports showed prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of 165% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, piper pepper exports reached $X in 2022. Overall, exports showed strong growth. The pace of growth appeared the most rapid in 2016 with an increase of 205% against the previous year. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

El Salvador (X tons) was the main destination for piper pepper exports from Costa Rica, accounting for a 71% share of total exports. Moreover, piper pepper exports to El Salvador exceeded the volume sent to the second major destination, Panama (X tons), fourfold. The third position in this ranking was held by Guatemala (X tons), with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to El Salvador amounted to +33.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-0.0% per year) and Guatemala (+8.8% per year).

In value terms, El Salvador ($X) remains the key foreign market for piper pepper exports from Costa Rica, comprising 69% of total exports. The second position in the ranking was taken by Panama ($X), with a 16% share of total exports. It was followed by Guatemala, with a 9.9% share.

From 2012 to 2022, the average annual growth rate of value to El Salvador totaled +28.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-0.7% per year) and Guatemala (+7.5% per year).

Export Prices by Country

In 2022, the average piper pepper export price amounted to $X per ton, dropping by -8.2% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 85%. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

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 Honduras ($X per ton), while the average price for exports to Panama ($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 Nicaragua (+4.5%), while the prices for the other major destinations experienced mixed trend patterns.

Piper Pepper Imports

Imports into Costa Rica

In 2022, the amount of piper pepper imported into Costa Rica declined to X tons, with a decrease of -12.6% compared with the previous year. Overall, imports continue to indicate a perceptible contraction. The pace of growth was the most pronounced in 2016 when imports increased by 35%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, piper pepper imports shrank to $X in 2022. In general, imports recorded a perceptible slump. The pace of growth appeared the most rapid in 2021 when imports increased by 40%. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of piper pepper to Costa Rica, accounting for a 53% share of total imports. Moreover, piper pepper imports from the United States exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), twofold. Guatemala (X tons) ranked third in terms of total imports with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled -4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+19.2% per year) and Guatemala (+4.4% per year).

In value terms, the United States ($X) constituted the largest supplier of piper pepper to Costa Rica, comprising 59% of total imports. The second position in the ranking was held by Vietnam ($X), with a 16% share of total imports. It was followed by India, with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled -3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+10.8% per year) and India (-4.6% per year).

Import Prices by Country

The average piper pepper import price stood at $X per ton in 2022, dropping by -1.9% against the previous year. In general, the import price saw a mild slump. The pace of growth appeared the most rapid in 2015 an increase of 13% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Vietnam ($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 (+0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform