Cocoa butter market in Costa Rica

Earlier Report Observations

Costa Rica's cocoa butter market volume grew from 306 tons in 2018 to a peak of 602 tons in 2022. This sustained expansion was initially supported by the robust cocoa production base in Latin America, particularly in Brazil and Ecuador, which facilitated increased local processing and export activity within the region.

After reaching its highest point, the market contracted to 490 tons in 2023. In 2024, the global market faced historic raw material price increases due to natural disasters in West Africa, while rising regional demand for natural and vegan cosmetic products continued to influence the use of cocoa butter in skin care applications.

Production cocoa butter in Costa Rica

In kind, 2017-2020, t

Top producers of cocoa butter, 2017-2020

World map of production of cocoa butter, 2017-2020

Costa Rica's cocoa butter production grew for two consecutive years before declining. In 2019, production reached its peak at 288.1 tons, marking a significant 51.4% increase from the previous year. However, by 2020, production fell to 241.5 tons, representing a sharp 16.2% year-over-year decline. Over the entire period from 2017 to 2020, production increased by 79.2%, which translates to an average annual growth rate of 21.5%.

Annual dynamics of production in Costa Rica in kind, 2017-2020, t

Exports cocoa butter from Costa Rica

Exports in kind, t

Cocoa butter exports from Costa Rica showed considerable volatility during this period. In 2017, exports hit their lowest point, while 2018 saw the highest volume at 8.6 tons—a 2.2-fold difference between these two years. The year 2018 also recorded the largest increase at 115.2%. However, exports declined by 35.5% in 2019. By 2020, exports rebounded to 7.0 tons, showing a sharp 27.4% year-over-year rise.

Annual dynamics of product's exports from Costa Rica in kind, 2017-2020, t

From 2017 to 2020, El Salvador and Nicaragua were the dominant destinations for Costa Rica's cocoa butter exports in volume terms, together accounting for 85.4% of total flows. The remaining share went to other markets.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Costa Rica in kind, 2017-2020

Exports in value, K $ US

Export values for cocoa butter from Costa Rica exhibited irregular changes, reflecting a volatile market environment. In 2017, values reached their lowest point, while 2018 saw the peak at 64.7 thousand US dollars—a 2.4-fold swing between these years. The largest increase occurred in 2018 at 138.4%, followed by a 39.0% decline in 2019. By 2020, export values dropped to 27.6 thousand US dollars, representing a sudden 30.0% decrease compared to the previous year.

Annual dynamics of product's exports from Costa Rica in value, 2017-2020, K $ US

In value terms, the geographical pattern of Costa Rica's cocoa butter exports from 2017 to 2020 was characterized by the strong dominance of El Salvador, which held a 75.5% share of total flows. Other trading partners accounted for relatively minor shares.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Costa Rica in value, 2017-2020

Imports cocoa butter to Costa Rica

Imports in kind, t

Cocoa butter imports into Costa Rica decreased for two years before rising again. In 2019, imports reached their lowest point at 107.1 tons, marking a 13.9% decline from the previous year. However, by 2020, imports surged to 166.0 tons, showing a sharp 54.9% increase compared to 2019. Over the period from 2017 to 2020, imports grew by 31.1%, equating to an average annual rate of 9.4%.

Annual dynamics of product's imports to Costa Rica in kind, 2017-2020, t

From 2017 to 2020, the market structure for cocoa butter imports into Costa Rica was highly concentrated, with Colombia alone responsible for 93.8% of total imports in volume terms.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Costa Rica in kind, 2017-2020

Imports in value, K $ US

Cocoa butter import values into Costa Rica declined for two years before increasing. In 2019, values hit their minimum at 600.6 thousand US dollars, following a 19.5% decline in 2018. By 2020, import values rose to 881.6 thousand US dollars, representing a 46.8% amplification compared to 2019. Over the 2017-2020 period, import values increased by 4.7%, with a compound annual growth rate of 1.5%.

Annual dynamics of product's imports to Costa Rica in value, 2017-2020, K $ US

In value terms, the market structure for cocoa butter imports into Costa Rica from 2017 to 2020 was highly concentrated, with Colombia alone accounting for 93.8% of total imports.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Costa Rica in value, 2017-2020