Starches; Inulin Price in Costa Rica - 2022

Starches; Inulin Price in Costa Rica (CIF) - 2022

In 2022, the average starches; inulin import price amounted to $895 per ton, rising by 39% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Guatemala ($1,793 per ton), while the price for Brazil ($570 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+39.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Starches; Inulin Price in Costa Rica (FOB) - 2022

In 2022, the average starches; inulin export price amounted to $2,388 per ton, picking up by 70% against the previous year. Over the period under review, the export price enjoyed a resilient expansion. The export price peaked at $2,788 per ton in 2014; however, from 2015 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 the United States ($5,484 per ton), while the average price for exports to Honduras ($1,000 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 Nicaragua (+12.1%), while the prices for the other major destinations experienced more modest paces of growth.

Starches; Inulin Imports in Costa Rica

In 2022, starches; inulin imports into Costa Rica dropped to 16K tons, with a decrease of -9.6% against the year before. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 15%. As a result, imports attained the peak of 18K tons, and then fell in the following year.

In value terms, starches; inulin imports skyrocketed to $14M in 2022. Over the period under review, total imports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +12.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +58.6% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 26%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Import of Starches; Inulin in Costa Rica (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Mexico	1,529	1,210	3,124	4,411	42.4%
Brazil	2,029	2,771	2,096	1,734	-5.1%
Denmark	1,033	602	709	1,320	8.5%
Paraguay	49.3	75.3	74.4	1,069	178.9%
Guatemala	482	632	691	902	23.2%
Netherlands	838	396	719	868	1.2%
Poland	505	328	437	542	2.4%
Ukraine	N/A	22.7	416	492	365.6%
Germany	514	533	354	483	-2.1%
Nicaragua	158	138	361	363	32.0%
China	198	111	10.1	311	16.2%
Egypt	N/A	N/A	N/A	250	0%
Argentina	784	374	446	201	-36.5%
Others	1,910	1,769	1,870	1,270	-12.7%
Total	10,032	8,960	11,308	14,215	12.3%

Top Suppliers of Starches; Inulin to Costa Rica in 2022:

Mexico (5.3K tons)
Brazil (3.0K tons)
Denmark (1.3K tons)
Paraguay (1.0K tons)
Netherlands (0.9K tons)
Ukraine (0.6K tons)
Poland (0.6K tons)
Guatemala (0.5K tons)
Germany (0.5K tons)
China (0.4K tons)
Nicaragua (0.4K tons)
Egypt (0.3K tons)
Argentina (0.3K tons)

Starches; Inulin Exports in Costa Rica

In 2022, after three years of growth, there was significant decline in shipments abroad of starches; inulins, when their volume decreased by -65.3% to 70 tons. Overall, exports saw a slight slump. The growth pace was the most rapid in 2021 with an increase of 115%. As a result, the exports reached the peak of 202 tons, and then fell notably in the following year.

In value terms, starches; inulin exports declined significantly to $167K in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 31%. As a result, the exports attained the peak of $284K, and then dropped sharply in the following year.

Export of Starches; Inulin in Costa Rica (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
El Salvador	13.9	33.4	36.6	106	96.8%
Guatemala	7.7	12.3	66.6	29.2	55.9%
Panama	41.0	23.6	30.0	27.2	-12.8%
Nicaragua	104	144	95.7	N/A	-4.1%
Dominican Republic	N/A	2.0	19.2	N/A	860.0%
Honduras	N/A	N/A	32.2	N/A	0%
Others	1.5	1.3	3.5	4.3	42.1%
Total	168	216	284	167	-0.2%