Costa Rica: Linseed Oil Market 2024

Linseed Oil Market Size in Costa Rica

In 2022, the Costa Rican linseed oil market increased by X% to $X, rising for the third year in a row after three years of decline. In general, consumption continues to indicate strong growth. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Linseed Oil Production in Costa Rica

In value terms, linseed oil production expanded remarkably to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Linseed Oil Exports

Exports from Costa Rica

In 2022, exports of linseed oil from Costa Rica fell remarkably to X kg, waning by X% on 2021. Over the period under review, exports saw a significant decrease. The pace of growth appeared the most rapid in 2020 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, linseed oil exports dropped significantly to $X in 2022. Overall, exports faced a deep downturn. The most prominent rate of growth was recorded in 2020 with an increase of X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Nicaragua (X kg), El Salvador (X kg) and Honduras (X kg) were the main destinations of linseed oil exports from Costa Rica, with a combined X% share 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 mixed trend patterns.

In value terms, the largest markets for linseed oil exported from Costa Rica were Nicaragua ($X), El Salvador ($X) and Panama ($X), with a combined X% share of total exports.

El Salvador, with a CAGR of X%, recorded the highest rates of growth with regard to 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 linseed oil export price stood at $X per ton in 2022, falling by X% against the previous year. In general, the export price, however, posted a buoyant expansion. The pace of growth was the most pronounced 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 2021, and then shrank in the following year.

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 Panama ($X per ton), while the average price for exports to Nicaragua ($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 El Salvador (X%), while the prices for the other major destinations experienced more modest paces of growth.

Linseed Oil Imports

Imports into Costa Rica

In 2022, supplies from abroad of linseed oil increased by X% to X tons, rising for the fourth consecutive year after two years of decline. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, linseed oil imports soared to $X in 2022. Overall, imports saw a temperate expansion. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Belgium (X tons) constituted the largest linseed oil supplier to Costa Rica, with a X% share of total imports. Moreover, linseed oil imports from Belgium exceeded the figures recorded by the second-largest supplier, China (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume from Belgium stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Canada (X% per year).

In value terms, Belgium ($X), China ($X) and Canada ($X) were the largest linseed oil suppliers to Costa Rica, with a combined X% share of total imports.

Among the main suppliers, Canada, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average linseed oil import price stood at $X per ton in 2022, picking up by X% against the previous year. In general, import price indicated a buoyant expansion 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, linseed oil import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Canada ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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