Costa Rica: Sugar Market 2025

Sugar Market Size in Costa Rica

The Costa Rican sugar market expanded sharply to $X in 2022, surging by 7.7% against the previous year. Overall, consumption, however, recorded a perceptible curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Sugar Production in Costa Rica

In value terms, sugar production reached $X in 2022 estimated in export price. In general, production saw a pronounced contraction. The pace of growth appeared the most rapid in 2017 when the production volume increased by 42%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

In 2022, the average sugar yield in Costa Rica amounted to less than X kg per ha, almost unchanged from the previous year. Over the period under review, the yield recorded 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, the harvested area of sugar in Costa Rica was estimated at less than X ha, standing approx. at 2021. Overall, the harvested area saw a relatively flat trend pattern.

Sugar Exports

Exports from Costa Rica

In 2022, sugar exports from Costa Rica reduced to X tons, dropping by -7.9% on the previous year. Over the period under review, total exports indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of +3.7% 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 +6.3% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of 59% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, sugar exports soared to $X in 2022. Overall, total exports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.9% 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 +75.5% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 74% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons) was the main destination for sugar exports from Costa Rica, accounting for a 47% share of total exports. Moreover, sugar exports to the United States exceeded the volume sent to the second major destination, Canada (X tons), twofold. The UK (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+95.8% per year) and the UK (+88.7% per year).

In value terms, the United States ($X) remains the key foreign market for sugar exports from Costa Rica, comprising 43% of total exports. The second position in the ranking was held by Canada ($X), with a 20% share of total exports. It was followed by Germany, with a 16% share.

From 2012 to 2022, the average annual growth rate of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+94.5% per year) and Germany (+35.2% per year).

Export Prices by Country

The average sugar export price stood at $X per ton in 2022, rising by 48% against the previous year. Over the period under review, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sugar export price increased by +79.5% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Greece ($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 Belgium (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.

Sugar Imports

Imports into Costa Rica

In 2022, imports of sugar into Costa Rica shrank remarkably to X tons, dropping by -27.5% on 2021 figures. In general, imports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 229% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, sugar imports reduced rapidly to $X in 2022. Over the period under review, imports, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2021 when imports increased by 71%. As a result, imports reached the peak of $X, and then reduced remarkably in the following year.

Imports by Country

In 2022, the United States (X tons) was the main sugar supplier to Costa Rica, accounting for a approx. 96% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled +78.2%.

In value terms, the United States ($X) constituted the largest supplier of sugar to Costa Rica.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled +84.8%.

Import Prices by Country

In 2022, the average sugar import price amounted to $X per ton, dropping by -14% against the previous year. Overall, the import price saw a abrupt contraction. The growth pace was the most rapid in 2016 an increase of 98% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for Germany amounted to +14.9% per year.

Source: IndexBox Platform