Castor Oil Seed Price in Costa Rica - 2022

Castor Oil Seed Price in Costa Rica (CIF) - 2022

In 2022, the average castor oil seed import price amounted to $3,197 per ton, picking up by 27% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $3,350 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 India ($4,923 per ton), while the price for Guatemala ($3,103 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+0.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Castor Oil Seed Price in Costa Rica (FOB) - 2022

In 2022, the average castor oil seed export price amounted to $5,902 per ton, increasing by 16% against the previous year. In general, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, castor oil seed export price increased by +9.5% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by 31% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the near future.

As there is only one major export destination, the average price level is determined by prices for Panama.

From 2012 to 2022, the rate of growth in terms of prices for Panama amounted to +4.5% per year.

Castor Oil Seed Imports in Costa Rica

In 2022, supplies from abroad of castor oil seed decreased by -69.1% to 23 tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports saw a significant curtailment. The pace of growth was the most pronounced in 2021 with an increase of 44%. As a result, imports attained the peak of 73 tons, and then declined notably in the following year.

In value terms, castor oil seed imports dropped dramatically to $72K in 2022. Over the period under review, imports faced a deep slump. The most prominent rate of growth was recorded in 2021 when imports increased by 54%. As a result, imports reached the peak of $183K, and then reduced rapidly in the following year.

Import of Castor Oil Seed in Costa Rica (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Guatemala	19.0	18.2	19.9	52.0	39.9%
Germany	20.8	13.0	11.1	11.8	-17.2%
United States	15.6	23.0	52.6	8.3	-19.0%
India	13.4	9.4	2.3	0.2	-75.4%
Belgium	12.7	15.6	16.3	N/A	13.3%
Netherlands	13.8	21.1	56.6	N/A	102.5%
Brazil	7.4	5.6	11.1	N/A	22.5%
Others	9.9	13.5	13.6	N/A	17.2%
Total	113	119	183	72.2	-13.9%

Top Suppliers of Castor Oil Seed to Costa Rica in 2022:

Guatemala (16.7 tons)
Germany (3.6 tons)
United States (2.2 tons)

Castor Oil Seed Exports in Costa Rica

In 2022, shipments abroad of castor oil seed decreased by -46.8% to 9.6 tons, falling for the second consecutive year after two years of growth. Overall, exports showed a dramatic descent. The most prominent rate of growth was recorded in 2020 with an increase of 44%. As a result, the exports reached the peak of 27 tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, castor oil seed exports shrank significantly to $57K in 2022. Over the period under review, exports recorded a abrupt curtailment. The growth pace was the most rapid in 2020 with an increase of 26% against the previous year. As a result, the exports attained the peak of $128K. From 2021 to 2022, the growth of the exports remained at a lower figure.