Costa Rica: Beef Market 2024

Beef Market Size in Costa Rica

The Costa Rican beef market declined modestly to $X in 2022, remaining stable against the previous year. Overall, consumption saw a slight reduction. Beef consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Beef Production in Costa Rica

In value terms, beef production declined modestly to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

In 2022, the average beef yield in Costa Rica totaled X kg per head, remaining stable against the year before. In general, the yield showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the yield increased by X% against the previous year. The beef yield peaked in 2022 and is expected to retain growth in the immediate term.

The number of animals slaughtered for beef production in Costa Rica dropped slightly to X heads in 2022, with a decrease of X% against the year before. Overall, the number of producing animals, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, this number attained the peak level at X heads in 2021, and then fell modestly in the following year.

Beef Exports

Exports from Costa Rica

In 2022, overseas shipments of beef (cattle meat) decreased by X% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, exports, however, recorded a buoyant increase. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. The exports peaked at X tons in 2021, and then reduced in the following year.

In value terms, beef exports reached $X in 2022. In general, exports, however, enjoyed a prominent increase. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China (X tons) was the main destination for beef exports from Costa Rica, accounting for a X% share of total exports. Moreover, beef exports to China exceeded the volume sent to the second major destination, the United States (X tons), threefold. The third position in this ranking was held by Jamaica (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Jamaica (X% per year).

In value terms, China ($X) remains the key foreign market for beef (cattle meat) exports from Costa Rica, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by Jamaica, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Jamaica (X% per year).

Export Prices by Country

In 2022, the average beef export price amounted to $X per ton, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to El Salvador ($X per ton) and Jamaica ($X per ton), while the average price for exports to China ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Jamaica (X%), while the prices for the other major destinations experienced more modest paces of growth.

Beef Imports

Imports into Costa Rica

In 2022, the amount of beef (cattle meat) imported into Costa Rica reduced sharply to X tons, with a decrease of X% compared with 2021. Overall, imports, however, enjoyed resilient growth. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, beef imports reduced to $X in 2022. In general, imports, however, recorded a remarkable increase. The pace of growth was the most pronounced in 2015 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then reduced in the following year.

Imports by Country

Nicaragua (X tons), the United States (X tons) and Chile (X tons) were the main suppliers of beef imports to Costa Rica, together comprising X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nicaragua ($X), the United States ($X) and Chile ($X) were the largest beef suppliers to Costa Rica, together comprising X% of total imports.

The United States, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average beef import price stood at $X per ton in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 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 ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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