Costa Rica: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in Costa Rica

In 2022, the Costa Rican evaporated and condensed milk market increased by X% to $X, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level in 2022 and is likely to see gradual growth in the immediate term.

Exports of Evaporated And Condensed Milk

Exports from Costa Rica

In 2022, overseas shipments of evaporated and condensed milk were finally on the rise to reach X tons after five years of decline. Overall, exports, however, recorded a slight decline. The most prominent rate of growth was recorded in 2015 with an increase of X%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, evaporated and condensed milk exports surged to $X in 2022. The total export value increased at an average annual rate of X% from 2012 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 2016 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Honduras (X tons), El Salvador (X tons) and Guatemala (X tons) were the main destinations of evaporated and condensed milk exports from Costa Rica, together comprising X% of total exports. Nicaragua and Colombia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Colombia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Honduras ($X) remains the key foreign market for evaporated and condensed milk exports from Costa Rica, comprising X% of total exports. The second position in the ranking was taken by El Salvador ($X), with a X% share of total exports. It was followed by Nicaragua, with a X% share.

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

Export Prices by Country

The average evaporated and condensed milk export price stood at $X per ton in 2022, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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 Honduras ($X per ton), while the average price for exports to Guatemala ($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.

Imports of Evaporated And Condensed Milk

Imports into Costa Rica

In 2022, approx. X tons of evaporated and condensed milk were imported into Costa Rica; which is down by X% on 2021. Overall, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of X%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, evaporated and condensed milk imports rose sharply to $X in 2022. The total import 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 throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

Chile (X tons), Mexico (X tons) and the Netherlands (X tons) were the main suppliers of evaporated and condensed milk imports to Costa Rica, together accounting for X% of total imports. Germany, Argentina and El Salvador lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Argentina (with a CAGR of X.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X) constituted the largest supplier of evaporated and condensed milk to Costa Rica, comprising X% of total imports. The second position in the ranking was held by Mexico ($X), with a X% share of total imports. It was followed by the Netherlands, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Chile stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (X% per year) and the Netherlands (X% per year).

Import Prices by Country

In 2022, the average evaporated and condensed milk import price amounted to $X per ton, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price reached 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 Germany ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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