Costa Rica: Yams Market 2024

Yams Market Size in Costa Rica

In 2022, the Costa Rican yams market was finally on the rise to reach $X after three years of decline. Over the period under review, the total consumption indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -14.4% against 2018 indices. Yams consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Yams Production in Costa Rica

In value terms, yams production shrank slightly to $X in 2022 estimated in export price. Overall, production, however, saw a pronounced shrinkage. The pace of growth appeared the most rapid in 2014 when the production volume increased by 15% 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.

In 2022, the average yield of yams in Costa Rica amounted to X tons per ha, increasing by 1.6% compared with 2021. Overall, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the yield increased by 21%. The yams yield peaked at X tons per ha in 2018; however, from 2019 to 2022, the 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 yams production in Costa Rica was estimated at X ha, stabilizing at the previous year. Over the period under review, the harvested area, however, recorded a pronounced decrease. The pace of growth appeared the most rapid in 2019 with an increase of 9.4%. Over the period under review, the harvested area dedicated to yams production reached the maximum at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Yams Exports

Exports from Costa Rica

In 2022, shipments abroad of yams decreased by -4.7% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports recorded a abrupt setback. The growth pace was the most rapid in 2021 with an increase of 10% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, yams exports contracted to $X in 2022. In general, exports continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2013 when exports increased by 14% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for yams exports from Costa Rica, with a 53% share of total exports. Moreover, yams exports to the United States exceeded the volume sent to the second major destination, France (X tons), threefold. Canada (X tons) ranked third in terms of total exports with a 3.2% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at -10.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-3.1% per year) and Canada (-2.3% per year).

In value terms, the United States ($X) remains the key foreign market for yams exports from Costa Rica, comprising 61% of total exports. The second position in the ranking was taken by France ($X), with a 16% share of total exports. It was followed by the UK, with a 1.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at -8.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-5.4% per year) and the UK (+3.7% per year).

Export Prices by Country

The average yams export price stood at $X per ton in 2022, picking up by 3% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average export price increased by 14%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas 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 UK (+4.2%), while the prices for the other major destinations experienced mixed trend patterns.

Yams Imports

Imports into Costa Rica

Yams imports into Costa Rica soared to X tons in 2022, jumping by 103% compared with the year before. Over the period under review, imports posted significant growth. The growth pace was the most rapid in 2013 when imports increased by 471% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, yams imports skyrocketed to $X in 2022. Overall, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2013 when imports increased by 501%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

France (X tons) and the United States (X tons) were the main suppliers of yams imports to Costa Rica.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +48.2%).

In value terms, the largest yams suppliers to Costa Rica were France ($X) and the United States ($X).

In terms of the main suppliers, France, with a CAGR of +50.8%, saw the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

In 2022, the average yams import price amounted to $X per ton, with an increase of 21% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 58% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for the United States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+1.7%).

Source: IndexBox Platform