Price for Cereal Groats and Meal; of Maize (Corn) in Costa Rica - 2022

Price for Cereal Groats and Meal; of Maize (Corn) in Costa Rica (CIF) - 2022

In 2022, the average import price for cereal groats and meal; of maize (corn)s amounted to $711 per ton, rising by 72% against the previous year. Overall, import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($953 per ton), while the price for Spain ($616 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Cereal Groats and Meal; of Maize (Corn) in Costa Rica (FOB) - 2022

In 2022, the average export price for cereal groats and meal; of maize (corn)s amounted to $1,174 per ton, which is down by -1.6% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by 2.6%. As a result, the export price attained the peak level of $1,210 per ton; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the rate of growth in terms of prices for El Salvador amounted to -0.1% per year.

Imports of Cereal Groats and Meal; of Maize (Corn) in Costa Rica

In 2022, after three years of growth, there was significant decline in supplies from abroad of cereal groats and meal; of maize (corn)s, when their volume decreased by -52.3% to 4.3K tons. In general, imports showed a deep downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 33%. As a result, imports reached the peak of 9K tons, and then dropped dramatically in the following year.

In value terms, imports of cereal groats and meal; of maize (corn)s dropped rapidly to $3.1M in 2022. The total import value increased at an average annual rate of +1.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 25% against the previous year. As a result, imports reached the peak of $3.7M, and then shrank remarkably in the following year.

Import of Cereal Groats and Meal; of Maize (Corn) in Costa Rica (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	241	82.8	180	906	55.5%
Spain	524	726	1,348	801	15.2%
Ukraine	989	1,087	981	659	-12.7%
Guatemala	1.6	4.8	19.8	362	509.3%
Italy	36.5	191	213	272	95.3%
Turkey	N/A	N/A	N/A	51.6	0%
France	1,013	763	797	N/A	-11.3%
Brazil	66.5	28.0	91.1	N/A	17.0%
Others	56.3	95.1	101	N/A	33.9%
Total	2,929	2,978	3,732	3,051	1.4%

Top Suppliers of Cereal Groats and Meal; of Maize (Corn) to Costa Rica in 2022:

Spain (1299.3 tons)
Ukraine (963.6 tons)
United States (950.8 tons)
Guatemala (585.0 tons)
Italy (410.0 tons)
Turkey (82.0 tons)

Exports of Cereal Groats and Meal; of Maize (Corn) in Costa Rica

For the third consecutive year, Costa Rica recorded decline in overseas shipments of cereal groats and meal; of maize (corn)s, which decreased by -19.3% to 46 kg in 2022. Over the period under review, exports faced a abrupt contraction.

In value terms, exports of cereal groats and meal; of maize (corn)s reduced remarkably to $54 in 2022. In general, exports recorded a sharp descent. The smallest decline of -19.8% was in 2020.