Costa Rica: Canned Vegetable Market 2024

Canned Vegetable Market Size in Costa Rica

In 2022, after two years of growth, there was significant decline in the Costa Rican canned vegetable market, when its value decreased by -5.7% to $X. The market value increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X, and then shrank in the following year.

Canned Vegetable Production in Costa Rica

In value terms, canned vegetable production fell to $X in 2022 estimated in export price. In general, production recorded a slight downturn. The pace of growth appeared the most rapid in 2018 with an increase of 1.4% against the previous year. Canned vegetable production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Canned Vegetable Exports

Exports from Costa Rica

In 2022, overseas shipments of canned vegetables decreased by -21.8% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, exports recorded a perceptible contraction. The growth pace was the most rapid in 2018 with an increase of 28%. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, canned vegetable exports expanded significantly to $X in 2022. Overall, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 30%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Honduras (X tons), El Salvador (X tons) and the United States (X tons) were the main destinations of canned vegetable exports from Costa Rica, with a combined 84% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +16.7%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Honduras ($X), El Salvador ($X) and the United States ($X) constituted the largest markets for canned vegetable exported from Costa Rica worldwide, together comprising 78% of total exports. Nicaragua, Guatemala and Panama lagged somewhat behind, together accounting for a further 22%.

Among the main countries of destination, Panama, with a CAGR of +13.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average canned vegetable export price stood at $X per ton in 2022, surging by 44% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Honduras ($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 Guatemala (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.

Canned Vegetable Imports

Imports into Costa Rica

In 2022, after ten years of growth, there was significant decline in supplies from abroad of canned vegetables, when their volume decreased by -13.4% to X tons. Overall, total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +84.2% against 2012 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 23%. Over the period under review, imports attained the maximum at X tons in 2021, and then dropped in the following year.

In value terms, canned vegetable imports fell to $X in 2022. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +43.0% against 2017 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 28% against the previous year. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of canned vegetable to Costa Rica, with a 42% share of total imports. Moreover, canned vegetable imports from the United States exceeded the figures recorded by the second-largest supplier, Guatemala (X tons), twofold. The third position in this ranking was taken by China (X tons), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Guatemala (+2.2% per year) and China (+10.1% per year).

In value terms, the largest canned vegetable suppliers to Costa Rica were the United States ($X), Guatemala ($X) and China ($X), together accounting for 73% of total imports. Honduras, Spain, Italy, El Salvador, Mexico and Thailand lagged somewhat behind, together comprising a further 25%.

Among the main suppliers, Honduras, with a CAGR of +17.3%, recorded the highest rates of growth with regard to the value of imports, 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 canned vegetable import price amounted to $X per ton, picking up by 2% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 7.1% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 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 Honduras ($X per ton), while the price for El Salvador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Honduras (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :