Costa Rica: Avocado Market 2024

Avocado Market Size in Costa Rica

In 2022, the Costa Rican avocado market decreased by X% to $X for the first time since 2015, thus ending a six-year rising trend. In general, consumption, however, recorded moderate growth. Over the period under review, the market attained the peak level at $X in 2021, and then dropped in the following year.

Avocado Production in Costa Rica

In value terms, avocado production rose to $X in 2022 estimated in export price. In general, production, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Avocado production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

The average yield of avocados in Costa Rica fell dramatically to X tons per ha in 2022, waning by X% compared with the previous year's figure. Overall, the yield, however, saw resilient growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, the yield reached the peak level of X tons per ha. From 2020 to 2022, the growth of the average avocado 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, approx. X ha of avocados were harvested in Costa Rica; growing by X% compared with 2021 figures. Over the period under review, the total harvested area indicated a perceptible increase from 2012 to 2022: its figure 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, avocado harvested area decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2020 when the harvested area increased by X% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2021 to 2022, the growth of the avocado harvested area remained at a somewhat lower figure.

Avocado Exports

Exports from Costa Rica

In 2022, after two years of growth, there was significant decline in overseas shipments of avocados, when their volume decreased by X% to X tons. Over the period under review, exports faced a abrupt downturn. The growth pace was the most rapid in 2020 with an increase of X%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, avocado exports dropped remarkably to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X%. The exports peaked at $X in 2021, and then dropped dramatically in the following year.

Exports by Country

Israel (X tons) was the main destination for avocado exports from Costa Rica, accounting for a X% share of total exports. Moreover, avocado exports to Israel exceeded the volume sent to the second major destination, Guatemala (X tons), fivefold. Panama (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Israel totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (X% per year) and Panama (X% per year).

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

From 2012 to 2022, the average annual growth rate of value to Israel amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (X% per year) and Panama (X% per year).

Export Prices by Country

The average avocado export price stood at $X per ton in 2022, jumping by X% against the previous year. Over the period under review, the export price showed a resilient increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Israel ($X per ton), while the average price for exports to the Netherlands ($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 the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Avocado Imports

Imports into Costa Rica

After four years of growth, supplies from abroad of avocados decreased by X% to X tons in 2022. In general, imports saw a noticeable reduction. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, avocado imports expanded rapidly to $X in 2022. Over the period under review, imports recorded a noticeable setback. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Nicaragua (X tons), Mexico (X tons) and the Dominican Republic (X tons) were the main suppliers of avocado imports to Costa Rica, together comprising X% of total imports. Guatemala, Peru, Colombia, Chile and Honduras lagged somewhat behind, together accounting for a further X%.

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

In value terms, Mexico ($X), Guatemala ($X) and the Dominican Republic ($X) were the largest avocado suppliers to Costa Rica, together comprising X% of total imports. Peru, Chile, Colombia, Nicaragua and Honduras lagged somewhat behind, together accounting for a further X%.

Chile, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average avocado import price amounted to $X per ton, with an increase of X% against the previous year. Overall, import price indicated a slight 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. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a 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 Chile ($X per ton), while the price for Nicaragua ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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