Costa Rica: Vegetable Product Market 2024

Vegetable Product Market Size in Costa Rica

The Costa Rican vegetable product market reduced to $X in 2022, which is down by -4.1% against the previous year. Overall, consumption showed a perceptible decline. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Vegetable Product Production in Costa Rica

In value terms, vegetable product production reduced to $X in 2022 estimated in export price. Over the period under review, production saw a abrupt slump. The pace of growth appeared the most rapid in 2014 when the production volume increased by 122%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

In 2022, the average yield of vegetable products in Costa Rica was estimated at X tons per ha, leveling off at the previous year's figure. In general, the yield saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 9%. As a result, the yield attained the peak level of X tons per ha. From 2021 to 2022, the growth of the average vegetable product 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, approx. X ha of vegetable products were harvested in Costa Rica; falling by -2.1% against the year before. Overall, the harvested area recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the harvested area increased by 9.9%. Over the period under review, the harvested area dedicated to vegetable product production reached the maximum at X ha in 2016; however, from 2017 to 2022, the harvested area remained at a lower figure.

Vegetable Product Exports

Exports from Costa Rica

For the sixth year in a row, Costa Rica recorded growth in overseas shipments of vegetable products, which increased by 30% to X tons in 2022. In general, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2015 with an increase of 190%. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the near future.

In value terms, vegetable product exports expanded markedly to $X in 2022. Over the period under review, exports showed a significant expansion. The growth pace was the most rapid in 2020 when exports increased by 63% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The United States (X tons) was the main destination for vegetable product exports from Costa Rica, accounting for a 65% share of total exports. Moreover, vegetable product exports to the United States exceeded the volume sent to the second major destination, Canada (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +43.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+98.6% per year) and the Netherlands (+11.1% per year).

In value terms, the United States ($X) remains the key foreign market for vegetable products exports from Costa Rica, comprising 79% of total exports. The second position in the ranking was held by Canada ($X), with a 16% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +19.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+93.6% per year) and the Netherlands (+11.6% per year).

Export Prices by Country

In 2022, the average vegetable product export price amounted to $X per ton, declining by -14% against the previous year. Over the period under review, the export price faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 an increase of 37% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 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 the United States ($X per ton), while the average price for exports to Canada ($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 the Netherlands (+0.5%), while the prices for the other major destinations experienced a decline.

Vegetable Product Imports

Imports into Costa Rica

In 2022, vegetable product imports into Costa Rica reduced modestly to X tons, falling by -2.1% on the year before. Over the period under review, imports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2018 when imports increased by 624% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, vegetable product imports skyrocketed to $X in 2022. In general, imports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 270% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Spain (X tons) was the main vegetable product supplier to Costa Rica, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Spain stood at +34.4%.

In value terms, Spain ($X) constituted the largest supplier of vegetable products to Costa Rica.

From 2012 to 2022, the average annual growth rate of value from Spain stood at +44.4%.

Import Prices by Country

The average vegetable product import price stood at $X per ton in 2022, growing by 22% against the previous year. Over the period under review, the import price posted prominent growth. The growth pace was the most rapid in 2017 an increase of 192%. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for Spain amounted to +7.5% per year.

Source: IndexBox Platform