Maize flour and cereals market in Costa Rica

Earlier Report Observations

From 2018 to 2019, the market volume for maize flour and cereals in Costa Rica remained stable at around 72 000 t. Market opening and the elimination of tariffs under trade agreements led to a high share of imports, which constrained the expansion of local production.

In 2020, the COVID-19 pandemic disrupted supply chains, while rules of origin in free trade agreements enabled a sharp increase in exports, which more than quadrupled. This stimulated production, which rose to 71 122 t, and the market volume grew to 76 948 t. The pandemic's effects continued to influence logistics and consumption into 2021.

The signing of a new trade agreement with Peru in 2022 opened additional export opportunities, coinciding with a 13% price increase for white maize and high volatility in retail prices for maize flour. As a result, production continued to grow, reaching 72 889 t in 2023, while the market volume in physical terms temporarily dipped in 2022 due to increased exports but recovered to 74 944 t by 2023. In value terms, the market volume rose significantly driven by higher prices.

Production maize flour and cereals in Costa Rica

In kind, 2017-2020, t

Top producers of maize flour and cereals, 2017-2020

World map of production of maize flour and cereals, 2017-2020

In 2020, Costa Rica produced 71 122 tons of maize flour and cereals, marking a significant increase of 19.7% compared to the previous year. Over the period from 2017 to 2020, production grew by 23.4%, which translates to an annualized growth rate of 7.3%. The smallest change occurred in 2019, with a slight decline of 0.1%.

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

In value, 2017-2020, K $ US

Costa Rica's maize flour and cereals production value declined for the third consecutive year. In 2020, the output was valued at 41 133 thousand US dollars, representing a decrease of 4.9% from the previous year. From 2017 to 2020, production value fell by 24.5%, with a compound annual growth rate of -8.9%.

Annual dynamics of production in Costa Rica in value, 2017-2020, K $ US

Exports maize flour and cereals from Costa Rica

Exports in kind, t

Costa Rica's maize flour and cereals export volume increased for the third consecutive year. In 2020, the country exported 9 613 tons, showing a sharp rise of 309.9% year-over-year. Between 2017 and 2020, exports surged by 476.1%, with a compound annual growth rate of 79.3%.

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

From 2017 to 2020, Nicaragua (22.4% of exports in kind), Guatemala (21.2% of exports in kind), and Panama (16.4% of exports in kind) were the leading destinations for Costa Rica's maize flour and cereals exports in volume terms. Together, these three countries accounted for 60.0% of total export flows.

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 market showed an unstable trend during this period. Exports reached their lowest point in 2017 and peaked in 2020, with a 3.5-fold difference between these years. In 2020, Costa Rica's maize flour and cereals exports amounted to 5 560 thousand US dollars, reflecting a 225.9% increase over the previous year. The largest decline was recorded in 2019, at 8.8%.

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

From 2017 to 2020, three key markets—Panama, Guatemala, and Nicaragua—collectively represented 68.5% of the total export value of maize flour and cereals from Costa Rica.

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 maize flour and cereals to Costa Rica

Imports in kind, t

Costa Rica's maize flour and cereals import volume increased for the third consecutive year. In 2020, the country imported approximately 15 439 tons, indicating a modest rise of 3.9% compared to 2019. Between 2017 and 2020, imports grew by 15.9%, equating to an annualized growth rate of 5.1%.

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

Throughout 2017–2020, El Salvador (25.5% of imports in kind), Ukraine (20.4% of imports in kind), and Colombia (19.3% of imports in kind) formed the primary group of partners for Costa Rica's maize flour and cereals imports in volume terms. Together, they accounted for 65.2% of total import flows.

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

In 2020, Costa Rica imported 9 517 thousand US dollars worth of maize flour and cereals, showing a gradual increase of 5.3% year-over-year. Over the period from 2017 to 2020, imports rose by 3.4%, with a compound annual growth rate of 1.1%. The minimum value was recorded in 2019 at 9 042 thousand US dollars, while the maximum was in 2018 at 9 565 thousand US dollars. The largest decline occurred in 2019, at 5.5%.

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

From 2017 to 2020, Colombia (30.4% of imports in value terms), El Salvador (22.6% of imports in value terms), and Ukraine (14.2% of imports in value terms) were the main sources for Costa Rica's maize flour and cereals imports in value terms. Together, these three countries accounted for 67.1% 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