Costa Rica: Refined Maize Oil Market 2024

Refined Maize Oil Market Size in Costa Rica

After two years of growth, the Costa Rican refined maize oil market decreased by X% to $X in 2023. Overall, consumption, however, recorded a perceptible contraction. The pace of growth appeared the most rapid in 2022 with an increase of X%. Refined maize oil consumption peaked at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Refined Maize Oil Production in Costa Rica

In value terms, refined maize oil production contracted slightly to $X in 2023 estimated in export price. Overall, production, however, showed a pronounced decline. The most prominent rate of growth was recorded in 2022 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Refined Maize Oil Exports

Exports from Costa Rica

In 2023, exports of refined maize (corn) oil from Costa Rica reduced rapidly to X tons, falling by X% against 2022 figures. Overall, exports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2022 with an increase of X%. As a result, the exports reached the peak of X tons, and then fell remarkably in the following year.

In value terms, refined maize oil exports contracted significantly to $X in 2023. In general, exports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2022 with an increase of X%. As a result, the exports attained the peak of $X, and then contracted dramatically in the following year.

Exports by Country

Honduras (X tons) was the main destination for refined maize oil exports from Costa Rica, accounting for a X% share of total exports. Moreover, refined maize oil exports to Honduras exceeded the volume sent to the second major destination, Panama (X kg), more than tenfold.

From 2012 to 2023, the average annual rate of growth in terms of volume to Honduras amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (X% per year) and Nicaragua (X% per year).

In value terms, Honduras ($X) remains the key foreign market for refined maize (corn) oil exports from Costa Rica, comprising X% of total exports. The second position in the ranking was taken by Panama ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value to Honduras stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (X% per year) and Nicaragua (X% per year).

Export Prices by Country

In 2023, the average refined maize oil export price amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the export price saw a pronounced decline. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Nicaragua ($X per ton), while the average price for exports to Honduras ($X per ton) was amongst the lowest.

From 2012 to 2023, 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 a decline.

Refined Maize Oil Imports

Imports into Costa Rica

In 2023, the amount of refined maize (corn) oil imported into Costa Rica soared to X tons, with an increase of X% compared with 2022. In general, imports, however, recorded a deep setback. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2023, imports remained at a lower figure.

In value terms, refined maize oil imports shrank to $X in 2023. Over the period under review, imports, however, showed a abrupt decrease. The growth pace was the most rapid in 2022 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Honduras (X tons), the United States (X tons) and Mexico (X tons) were the main suppliers of refined maize oil imports to Costa Rica, with a combined X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of X%), while imports for the other leaders experienced a decline.

In value terms, the United States ($X) constituted the largest supplier of refined maize (corn) oil to Costa Rica, comprising X% of total imports. The second position in the ranking was taken by Mexico ($X), with a X% share of total imports. It was followed by Honduras, with an X% share.

From 2012 to 2023, the average annual growth rate of value from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (X% per year) and Honduras (X% per year).

Import Prices by Country

The average refined maize oil import price stood at $X per ton in 2023, which is down by X% against the previous year. Over the period under review, the import price saw a noticeable slump. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. The import price peaked at $X per ton in 2022, and then reduced remarkably in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Honduras ($X per ton) was amongst the lowest.

From 2012 to 2023, 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 a decline.

Source: IndexBox Platform