Costa Rica: Rice Market 2024

Rice Market Size in Costa Rica

The Costa Rican rice market surged to $X in 2022, jumping by X% against the previous year. The market value 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. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Rice Production in Costa Rica

In value terms, rice production fell slightly to $X in 2022 estimated in export price. Over the period under review, production showed a deep slump. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. Rice production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

The average yield of rice in Costa Rica dropped to X tons per ha in 2022, remaining constant against the previous year. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, the yield attained the peak level of X tons per ha. From 2015 to 2022, the growth of the average rice 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.

In 2022, the total area harvested in terms of rice production in Costa Rica reduced modestly to X ha, standing approx. at the previous year's figure. Overall, the harvested area recorded a abrupt contraction. The growth pace was the most rapid in 2013 with an increase of X%. As a result, the harvested area attained the peak level of X ha. From 2014 to 2022, the growth of the rice harvested area remained at a somewhat lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Rice Exports

Exports from Costa Rica

For the fourth year in a row, Costa Rica recorded growth in overseas shipments of rice, which increased by X% to X tons in 2022. Overall, exports showed a significant expansion. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, rice exports soared to $X in 2022. Over the period under review, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2019 when exports increased by X%. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

Nicaragua (X tons) was the main destination for rice exports from Costa Rica, accounting for a X% share of total exports. Moreover, rice exports to Nicaragua exceeded the volume sent to the second major destination, El Salvador (X tons), threefold. Guatemala (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Nicaragua totaled 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).

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

From 2012 to 2022, the average annual growth rate 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

The average rice export price stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the export price, however, showed a slight shrinkage. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 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 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 Panama (X%), while the prices for the other major destinations experienced mixed trend patterns.

Rice Imports

Imports into Costa Rica

In 2022, approx. X tons of rice were imported into Costa Rica; growing by X% compared with the year before. Over the period under review, imports saw a resilient increase. The most prominent rate of growth was recorded in 2015 with an increase of X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, rice imports soared to $X in 2022. Overall, total imports indicated a buoyant 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. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Brazil (X tons) constituted the largest rice supplier to Costa Rica, with a X% share of total imports. Moreover, rice imports from Brazil exceeded the figures recorded by the second-largest supplier, Uruguay (X tons), threefold. The United States (X tons) ranked third in terms of total imports with a X% share.

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

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

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

Import Prices by Country

In 2022, the average rice import price amounted to $X per ton, rising by X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was El Salvador ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :