Costa Rica: Maize Market 2024

Maize Market Size in Costa Rica

After seven years of growth, the Costa Rican maize market decreased by X% to $X in 2022. In general, the total consumption indicated a pronounced increase 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, consumption increased by X% against 2014 indices. As a result, consumption attained the peak level of $X, and then dropped in the following year.

Maize Production in Costa Rica

In value terms, maize production expanded notably to $X in 2022 estimated in export price. In general, production, however, recorded a deep reduction. The pace of growth appeared the most rapid in 2016 when the production volume increased by X% against the previous year. Maize production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

The average yield of maize in Costa Rica totaled X tons per ha in 2022, growing by X% against 2021 figures. Over the period under review, the yield, however, continues to indicate a perceptible setback. The pace of growth appeared the most rapid in 2018 when the yield increased by X%. Over the period under review, the average maize yield attained the maximum level at X tons per ha in 2012; however, from 2013 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of maize were harvested in Costa Rica; with an increase of X% on the previous year. In general, the harvested area, however, saw a perceptible decrease. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, the harvested area reached the peak level of X ha. From 2019 to 2022, the growth of the maize harvested area remained at a lower figure.

Maize Exports

Exports from Costa Rica

In 2022, overseas shipments of maize increased by X% to X tons, rising for the fourth consecutive year after two years of decline. Over the period under review, exports continue to indicate a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, maize exports skyrocketed to $X in 2022. Overall, exports saw a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Nicaragua (X tons) was the main destination for maize exports from Costa Rica, with a X% share of total exports. Moreover, maize exports to Nicaragua exceeded the volume sent to the second major destination, El Salvador (X tons), ninefold. The third position in this ranking was taken by Panama (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Nicaragua stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (X% per year) and Panama (X% per year).

In value terms, Nicaragua ($X) emerged as the key foreign market for maize exports from Costa Rica, comprising X% of total exports. The second position in the ranking was held by El Salvador ($X), with a X% share of total exports. It was followed by Guatemala, with a X% share.

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

Export Prices by Country

In 2022, the average maize export price amounted to $X per ton, increasing by X% against the previous year. In general, the export price, however, continues to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2019 an increase of X%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to Panama ($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 a decline.

Maize Imports

Imports into Costa Rica

In 2022, maize imports into Costa Rica declined remarkably to X tons, with a decrease of X% against the previous year. Overall, total imports indicated a noticeable expansion 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 2015 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2021, and then shrank sharply in the following year.

In value terms, maize imports shrank to $X in 2022. Over the period under review, imports, however, saw a pronounced increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports attained the peak of $X, and then contracted in the following year.

Imports by Country

The United States (X tons), Brazil (X tons) and Mexico (X tons) were the main suppliers of maize imports to Costa Rica, together accounting for 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 Brazil (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Brazil ($X) and Mexico ($X) were the largest maize suppliers to Costa Rica, with a combined X% share of total imports.

Brazil, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of 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 maize import price stood at $X per ton in 2022, picking up by X% against the previous year. In general, import price indicated a slight 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, maize import price increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by X%. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Mexico ($X per ton), while the price for Brazil ($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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