Linseed oil and fractions market in Costa Rica

Earlier Report Observations

From 2018 to 2023, the market for linseed oil in Costa Rica experienced notable shifts. After a decline to 188.5 tons in 2019, market volume recovered to 202.5 tons in 2020 and grew to 221.7 tons in 2021. This increase in 2021 aligned with rising consumer awareness across Latin America about the health benefits of flaxseed oil, including reduced risks of cardiovascular disease, diabetes, and cancer, which stimulated regional demand.

The market contracted sharply to 130.0 tons in 2022 before rebounding to 192.2 tons in 2023. The recovery in 2023 was facilitated by investment and capacity expansion plans from key global players like Cargill, potentially affecting supply to Latin America, alongside growing worldwide demand for organic and premium flaxseed oil driven by recognized benefits of omega-3 fatty acids for heart health and inflammation reduction.

In 2024, imports of linseed oil rose to 77.7 tons, reflecting continued demand. Relevant factors include regulatory changes in Costa Rica, such as the omnibus regulation enacted in 2023 that introduced stricter environmental requirements for agricultural permits, and increasing local demand for flaxseed oil in cosmetic and therapeutic applications, with entrepreneurs offering products based on virgin, cold-pressed oil.

Production linseed oil and fractions in Costa Rica

In kind, 2017-2020, t

Top producers of linseed oil and fractions, 2017-2020

World map of production of linseed oil and fractions, 2017-2020

In 2020, Costa Rica produced 144.2 t of linseed oil and fractions, remaining virtually unchanged from the previous year. Between 2017 and 2020, production decreased by 3.3%, which translates to an annualized decline of 1.1%. The highest production level was recorded in 2018 at 165.4 t, representing a 10.9% increase from the prior year. In contrast, 2019 saw the largest decline of 12.8%.

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

Exports linseed oil and fractions from Costa Rica

Exports in kind, kg

In 2020, Costa Rica exported 209 kg of linseed oil and fractions, marking a 34.3% increase from the previous year. However, between 2017 and 2020, overall exports decreased by 47.9%, averaging an annual decline of 19.5%. The lowest export volume was recorded in 2019 at 156 kg, which represented a 65.7% drop from the prior year. The peak export volume occurred in 2018 at 455 kg.

Annual dynamics of product's exports from Costa Rica in kind, 2017-2020, kg

From 2017 to 2020, Panama and Nicaragua together accounted for 91.5% of Costa Rica's total exports of linseed oil and fractions in volume terms, with the remaining exports distributed thinly across 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

The export market for linseed oil and fractions showed volatility during the observed period. In 2020, Costa Rica exported 1.2 K $ US worth of these products, reflecting an abrupt 82.4% increase compared to 2019. The lowest value was recorded in 2019 at 0.7 K $ US, following a 46.0% decline in 2018. Exports peaked in 2017 and reached their trough in 2019, with a 2.1-fold difference between these years.

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

Between 2017 and 2020, Costa Rica's exports of linseed oil and fractions in value terms were highly concentrated, with Nicaragua and Panama together capturing 91.3% of total flows, while other partners accounted for the residual share.

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 linseed oil and fractions to Costa Rica

Imports in kind, kg

Costa Rica's imports of linseed oil and fractions increased for the third consecutive year in 2020, reaching 58 488 kg, which represents a 31.7% rise from the previous year. Over the period from 2017 to 2020, imports grew by 390.8%, corresponding to a compound annual growth rate (CAGR) of 69.9%.

Annual dynamics of product's imports to Costa Rica in kind, 2017-2020, kg

From 2017 to 2020, Belgium remained the leading supplier of linseed oil and fractions to Costa Rica, accounting for 74.6% of total imports in volume terms, with the rest spread across many other countries.

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

Costa Rica's imports of linseed oil and fractions in value terms increased for the third consecutive year in 2020, registering 137.3 K $ US, which marks a steep 80.8% rise from a year earlier. Between 2017 and 2020, imports grew by 430.4%, equating to an annualized rate of 74.4%.

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

In the period from 2017 to 2020, the leading sources for Costa Rica's imports of linseed oil and fractions in value terms were Belgium (46.2% of imports), China (24.1% of imports), and the United States (8.0% of imports), which together accounted for 78.3% of total import flows.

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

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