Costa Rica: Shelled Walnut Market 2024

Shelled Walnut Market Size in Costa Rica

In 2022, the Costa Rican shelled walnut market decreased by -1.1% to $X for the first time since 2018, thus ending a three-year rising trend. Over the period under review, the total consumption indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +93.0% against 2018 indices. Over the period under review, the market attained the maximum level at $X in 2021, and then reduced modestly in the following year.

Shelled Walnut Exports

Exports from Costa Rica

Shelled walnut exports from Costa Rica was estimated at X kg in 2022, leveling off at the year before. Overall, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2018 when exports increased by 1,922% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, shelled walnut exports amounted to $X in 2022. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 2,006% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Nicaragua (X kg) was the main destination for shelled walnut exports from Costa Rica, accounting for a 77% share of total exports. Moreover, shelled walnut exports to Nicaragua exceeded the volume sent to the second major destination, the Czech Republic (X kg), threefold.

From 2012 to 2022, the average annual growth rate of volume to Nicaragua totaled -4.9%.

In value terms, Nicaragua ($X) emerged as the key foreign market for shelled walnuts exports from Costa Rica, comprising 72% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with a 28% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Nicaragua stood at -2.9%.

Export Prices by Country

The average shelled walnut export price stood at $X per ton in 2022, standing approx. at the previous year. In general, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, shelled walnut export price decreased by -12.8% against 2017 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by 66% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Nicaragua amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to New Caledonia (+16.1%), while the prices for the other major destinations experienced more modest paces of growth.

Shelled Walnut Imports

Imports into Costa Rica

In 2022, purchases abroad of shelled walnuts decreased by -3.8% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, total imports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +2.2% 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 +106.0% against 2018 indices. The growth pace was the most rapid in 2019 when imports increased by 95% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then reduced modestly in the following year.

In value terms, shelled walnut imports amounted to $X in 2022. In general, total imports indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -0.4% against 2020 indices. The pace of growth was the most pronounced in 2019 when imports increased by 84% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Chile (X tons), the United States (X tons) and India (X tons) were the main suppliers of shelled walnut imports to Costa Rica, with a combined 89% share of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +50.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest shelled walnut suppliers to Costa Rica were the United States ($X), Chile ($X) and Mexico ($X), together comprising 89% of total imports. India lagged somewhat behind, accounting for a further 11%.

India, with a CAGR of +32.3%, 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 shelled walnut import price amounted to $X per ton, with an increase of 4.4% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 43%. Over the period under review, average import prices attained the maximum at $X per ton in 2015; however, from 2016 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 Mexico ($X per ton), while the price for Chile ($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 (-0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform