Costa Rica: Yautia (Cocoyam) Market 2024

Yautia (Cocoyam) Market Size in Costa Rica

In 2022, the Costa Rican yautia (cocoyam) market decreased by -9.1% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption, however, enjoyed a strong increase. Yautia (cocoyam) consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Yautia (Cocoyam) Production in Costa Rica

In value terms, yautia (cocoyam) production soared to $X in 2022 estimated in export price. In general, production recorded a pronounced decrease. The pace of growth appeared the most rapid in 2020 with an increase of 125%. Yautia (cocoyam) production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

The average yield of yautia in Costa Rica rose notably to X tons per ha in 2022, picking up by 5.8% against 2021. In general, the yield indicated strong growth from 2012 to 2022: its figure increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, yautia (cocoyam) yield decreased by -10.0% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the yield increased by 186%. As a result, the yield attained the peak level of X tons per ha. From 2021 to 2022, the growth of the average yautia (cocoyam) yield remained at a somewhat 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 yautia (cocoyam) harvested area in Costa Rica shrank rapidly to X ha, falling by -25% against the year before. In general, the harvested area recorded a pronounced downturn. The pace of growth appeared the most rapid in 2021 when the harvested area increased by 100%. Over the period under review, the harvested area dedicated to yautia (cocoyam) production reached the peak figure at X ha in 2017; however, from 2018 to 2022, the harvested area stood at a somewhat lower figure.

Yautia (Cocoyam) Exports

Exports from Costa Rica

In 2022, shipments abroad of yautia decreased by -18.8% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports showed a abrupt slump. The growth pace was the most rapid in 2016 when exports increased by 429% against the previous year. Over the period under review, the (cocoyam) exports attained the maximum at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, yautia (cocoyam) exports reduced notably to $X in 2022. In general, exports recorded a abrupt slump. The pace of growth was the most pronounced in 2016 with an increase of 480%. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the (cocoyam) exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for yautia (cocoyam) exports from Costa Rica, with a 74% share of total exports. Moreover, yautia (cocoyam) exports to the United States exceeded the volume sent to the second major destination, the Netherlands (X tons), more than tenfold. Canada (X tons) ranked third in terms of total exports with a 4.4% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled -13.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-2.2% per year) and Canada (-12.7% per year).

In value terms, the United States ($X) remains the key foreign market for yautia exports from Costa Rica, comprising 78% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 5% share of total exports. It was followed by France, with a 2.7% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled -11.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+3.2% per year) and France (+14.3% per year).

Export Prices by Country

In 2022, the average yautia (cocoyam) export price amounted to $X per ton, flattening at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The pace of growth appeared the most rapid in 2015 an increase of 22%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

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 France ($X per ton), while the average price for exports to Canada ($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 Nicaragua (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.

Yautia (Cocoyam) Imports

Imports into Costa Rica

In 2022, supplies from abroad of yautia increased by 83% to X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, imports, however, continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2016 with an increase of 617%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, yautia (cocoyam) imports surged to $X in 2022. Overall, imports, however, saw a abrupt contraction. The growth pace was the most rapid in 2016 when imports increased by 295% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest yautia (cocoyam) supplier to Costa Rica, accounting for a 31% share of total imports. Moreover, yautia (cocoyam) imports from the United States exceeded the figures recorded by the second-largest supplier, Nicaragua (X kg), ninefold.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at +5.0%.

In value terms, the United States ($X) constituted the largest supplier of yautia to Costa Rica, comprising 23% of total imports. The second position in the ranking was held by Nicaragua ($X), with a 1.4% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to -10.2%.

Import Prices by Country

The average yautia (cocoyam) import price stood at $X per ton in 2022, stabilizing at the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 24% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 Nicaragua stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Honduras (+15.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform