Costa Rica: Plantain Market 2024

Plantain Market Size in Costa Rica

The Costa Rican plantain market skyrocketed to $X in 2022, with an increase of X% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Plantain Production in Costa Rica

In value terms, plantain production rose significantly to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

The average yield of plantains in Costa Rica was estimated at X tons per ha in 2022, stabilizing at 2021. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of X%. The plantain yield peaked at X tons per ha in 2020; however, from 2021 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The plantain harvested area in Costa Rica dropped to X ha in 2022, reducing by X% on the previous year's figure. Overall, the harvested area recorded a slight descent. The pace of growth was the most pronounced in 2021 when the harvested area increased by X%. The plantain harvested area peaked at X ha in 2017; however, from 2018 to 2022, the harvested area remained at a lower figure.

Plantain Exports

Exports from Costa Rica

In 2022, after two years of growth, there was significant decline in shipments abroad of plantains, when their volume decreased by X% to X tons. In general, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons, and then dropped significantly in the following year.

In value terms, plantain exports declined rapidly to $X in 2022. Over the period under review, exports recorded a mild descent. The most prominent rate of growth was recorded in 2016 with an increase of X%. The exports peaked at $X in 2021, and then reduced sharply in the following year.

Exports by Country

Honduras (X tons), the United States (X tons) and El Salvador (X tons) were the main destinations of plantain exports from Costa Rica, together comprising 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 mixed trend patterns.

In value terms, the United States ($X) emerged as the key foreign market for plantains exports from Costa Rica, comprising X% of total exports. The second position in the ranking was taken by Honduras ($X), with a X% share of total exports.

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

Export Prices by Country

In 2022, the average plantain export price amounted to $X per ton, growing by X% against the previous year. In general, the export price, however, recorded a slight reduction. 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 overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Honduras ($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.

Plantain Imports

Imports into Costa Rica

In 2022, the amount of plantains imported into Costa Rica skyrocketed to X tons, surging by X% compared with the previous year's figure. Over the period under review, imports continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, plantain imports surged to $X in 2022. In general, imports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2015 with an increase of X%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Nicaragua (X tons) was the main supplier of plantain to Costa Rica, accounting for a approx. X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Nicaragua totaled X%.

In value terms, Nicaragua ($X) constituted the largest supplier of plantains to Costa Rica.

From 2012 to 2022, the average annual rate of growth in terms of value from Nicaragua stood at X%.

Import Prices by Country

The average plantain import price stood at $X per ton in 2022, declining by X% against the previous year. In general, the import price, however, recorded measured growth. The pace of growth appeared the most rapid in 2015 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Nicaragua.

From 2012 to 2022, the rate of growth in terms of prices for Ecuador amounted to X% per year.

Source: IndexBox Platform

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