Costa Rica: Butter And Ghee Market 2024

Butter And Ghee Market Size in Costa Rica

In 2022, the Costa Rican butter and ghee market was finally on the rise to reach $X after three years of decline. Overall, consumption continues to indicate a strong expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Butter And Ghee Production in Costa Rica

In value terms, butter and ghee production expanded slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Butter And Ghee Exports

Exports from Costa Rica

After two years of growth, overseas shipments of butter and ghee decreased by X% to X tons in 2022. In general, total exports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2021, and then contracted rapidly in the following year.

In value terms, butter and ghee exports declined to $X in 2022. Overall, total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of X%. The exports peaked at $X in 2021, and then dropped in the following year.

Exports by Country

Guatemala (X tons), El Salvador (X tons) and Nicaragua (X tons) were the main destinations of butter and ghee exports from Costa Rica, together accounting for X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by El Salvador (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for butter and ghee exported from Costa Rica were El Salvador ($X), Guatemala ($X) and Nicaragua ($X), together accounting for X% of total exports.

El Salvador, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average butter and ghee export price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was El Salvador ($X per ton), while the average price for exports to the United States ($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 Panama (X%), while the prices for the other major destinations experienced more modest paces of growth.

Butter And Ghee Imports

Imports into Costa Rica

In 2022, after three years of decline, there was significant growth in supplies from abroad of butter and ghee, when their volume increased by X% to X tons. In general, imports continue to indicate buoyant growth. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, butter and ghee imports surged to $X in 2022. Over the period under review, imports showed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest supplier of butter and ghee to Costa Rica, accounting for a X% share of total imports. Moreover, butter and ghee imports from New Zealand exceeded the figures recorded by the second-largest supplier, the United States (X tons), sixfold. The third position in this ranking was held by Denmark (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from New Zealand amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Denmark (X% per year).

In value terms, New Zealand ($X) constituted the largest supplier of butter and ghee to Costa Rica, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by Denmark, with a X% share.

From 2012 to 2022, the average annual growth rate of value from New Zealand amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Denmark (X% per year).

Import Prices by Country

In 2022, the average butter and ghee import price amounted to $X per ton, rising by X% against the previous year. In general, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter and ghee import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 an increase of X%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Denmark ($X per ton) and the United States ($X per ton), while the price for Australia ($X per ton) and Brazil ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :