Shrimp Price in Costa Rica - 2022
Contents:
- Shrimp Price in Costa Rica (CIF) - 2022
- Shrimp Price in Costa Rica (FOB) - 2022
- Shrimp Imports in Costa Rica
- Shrimp Exports in Costa Rica
Shrimp Price in Costa Rica (CIF) - 2022
The average shrimp import price stood at $6,545 per ton in 2022, increasing by 19% against the previous year. In general, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, shrimp import price increased by +52.8% against 2020 indices. The pace of growth appeared the most rapid in 2014 an increase of 60%. Over the period under review, average import prices hit record highs at $7,058 per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ecuador ($7,787 per ton), while the price for Panama ($3,295 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nicaragua (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Shrimp Price in Costa Rica (FOB) - 2022
The average shrimp export price stood at $11,964 per ton in 2022, picking up by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.4%. The most prominent rate of growth was recorded in 2021 an increase of 31%. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see gradual growth in the near future.
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 Austria ($15,600 per ton), while the average price for exports to Spain ($6,556 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 UK (+13.6%), while the prices for the other major destinations experienced more modest paces of growth.
Shrimp Imports in Costa Rica
For the third consecutive year, Costa Rica recorded decline in overseas purchases of shrimps, which decreased by -0.9% to 2.2K tons in 2022. Over the period under review, imports saw a deep contraction.
In value terms, shrimp imports soared to $14M in 2022. The total import value increased at an average annual rate of +3.0% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Shrimp in Costa Rica (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Nicaragua | 6.9 | 4.7 | 6.7 | 9.2 | 10.1% |
| Honduras | 3.8 | 3.7 | 3.8 | 3.3 | -4.6% |
| Panama | 0.1 | 0.2 | N/A | 0.5 | 71.0% |
| United States | 0.2 | 0.2 | 0.2 | 0.4 | 26.0% |
| Ecuador | 1.5 | 0.6 | 0.7 | 0.4 | -35.6% |
| Others | 0.5 | 0.8 | 0.6 | 0.5 | 0.0% |
| Total | 13.0 | 10.3 | 12.1 | 14.2 | 3.0% |
Top Suppliers of Shrimp to Costa Rica in 2022:
- Nicaragua (1252.7 tons)
- Honduras (608.3 tons)
- Panama (150.4 tons)
- United States (71.1 tons)
- Ecuador (51.3 tons)
Shrimp Exports in Costa Rica
In 2022, the amount of shrimps exported from Costa Rica declined markedly to 228 tons, waning by -59.8% compared with the year before. In general, exports continue to indicate a precipitous slump. The smallest decline of -17.9% was in 2020.
In value terms, shrimp exports contracted sharply to $2.7M in 2022. Overall, exports faced a significant decrease. The smallest decline of -10.1% was in 2021.
| Export of Shrimp in Costa Rica (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Belgium | 6.3 | 4.5 | 4.6 | 1.5 | -38.0% |
| United States | 0.5 | 0.2 | 0.3 | 0.3 | -15.7% |
| United Kingdom | N/A | 0.8 | 0.3 | 0.3 | -38.8% |
| Austria | N/A | N/A | N/A | 0.3 | 0% |
| Germany | N/A | N/A | N/A | 0.2 | 0% |
| Spain | 1.5 | 0.7 | 0.8 | 0.1 | -59.5% |
| Netherlands | 1.7 | 0.6 | N/A | N/A | -64.7% |
| Others | 0.1 | N/A | 0.2 | N/A | 41.4% |
| Total | 10.1 | 6.8 | 6.1 | 2.7 | -35.6% |
Top Export Markets for Shrimp from Costa Rica in 2022:
- Belgium (132.9 tons)
- Spain (21.6 tons)
- United States (20.3 tons)
- United Kingdom (18.9 tons)
- Austria (18.9 tons)
- Germany (15.3 tons)
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