Sunflower, safflower or cottonseed oil and fractions market in Costa Rica

Earlier Report Observations

The market volume for sunflower, safflower or cottonseed oil in Costa Rica grew significantly from 5 569 t in 2018 to a peak of 8 500 t in 2020, an increase of over 50% in three years. This growth was primarily driven by rising imports, which nearly doubled over the same period.

After 2020, the market volume began to decline, falling to 7 768 t in 2021 and then sharply contracting to 2 942 t in 2022, a 62% drop from the previous year. This sharp decline coincided with a more than halving of imports, while domestic production remained stable at around 30 t per year.

In 2023, the market volume stabilized at 3 009 t, with a slight 2% increase. Imports in 2024 recovered to 5 405 t, while the local market includes refined edible oils supplied by national companies for domestic consumption.

Production sunflower, safflower or cottonseed oil and fractions in Costa Rica

In kind, 2017-2020, kg

Top producers of sunflower, safflower or cottonseed oil and fractions, 2017-2020

World map of production of sunflower, safflower or cottonseed oil and fractions, 2017-2020

After two years of growth, production of sunflower, safflower, or cottonseed oil and fractions in Costa Rica declined. In 2019, output reached its peak at 26 910 kg, but by 2020, it had fallen to 25 070 kg, marking a 6.8% decrease from the previous year. Over the 2017-2020 period, production overall increased by 13.1%, with an average annual growth rate of 4.2%. The most significant year-on-year rise occurred in 2018, when production jumped by 20.9%.

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

In value, 2017-2020, $ US

Costa Rica's production of sunflower, safflower, or cottonseed oil and fractions in value terms declined for the third year in a row. In 2020, the output was valued at 31 720 US dollars, down 5.7% from 2019. From 2017 to 2020, production value decreased by 16.1%, with an average annual decline of 5.7%.

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

Exports sunflower, safflower or cottonseed oil and fractions from Costa Rica

Exports in kind, t

Exports of sunflower, safflower, or cottonseed oil and fractions from Costa Rica increased for the third consecutive year. In 2020, exports totaled 456 tonnes, representing a dramatic 132.3% surge compared to 2019. Between 2017 and 2020, exports grew by 798.8%, equating to an average annual rate of 107.9%.

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

From 2017 to 2020, Panama, El Salvador, and Nicaragua were the primary markets for Costa Rica's exports in kind. Panama accounted for 43.5% of exports, El Salvador for 27.3%, and Nicaragua for 18.9%. Together, these three countries represented 89.7% 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

Exports of sunflower, safflower, or cottonseed oil and fractions from Costa Rica in value terms increased for the third year in a row. In 2020, exports reached 577 000 US dollars, up 135.2% from 2019. Over the 2017-2020 period, export value rose by 566.8%, with an average annual growth rate of 88.2%.

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

Between 2017 and 2020, Panama, El Salvador, and Nicaragua were the top destinations for Costa Rica's exports in value terms. Panama held a 42.6% share, El Salvador 26.6%, and Nicaragua 19.3%. Collectively, these markets made up 88.5% of total export value.

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 sunflower, safflower or cottonseed oil and fractions to Costa Rica

Imports in kind, t

Imports of sunflower, safflower, or cottonseed oil and fractions into Costa Rica increased for the third consecutive year. In 2020, imports stood at 8 930 tonnes, a substantial 18.8% rise from 2019. From 2017 to 2020, import volume grew by 62.6%, with an average annual increase of 17.6%.

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

From 2017 to 2020, Ukraine and Argentina were the main sources of imports in kind for Costa Rica, jointly accounting for 88.2% of total import flows. Other countries supplied the remaining share.

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 sunflower, safflower, or cottonseed oil and fractions in value terms increased for the second year in a row. In 2020, import value totaled 8 837 000 US dollars, up 28.4% from 2019. Between 2017 and 2020, imports grew by 53.6%, with an average annual rate of 15.4%. The lowest value was recorded in 2018 at 5 740 000 US dollars, which also saw the largest decline of 0.2% that year.

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

Between 2017 and 2020, Ukraine and Argentina were the leading sources for Costa Rica's imports in value terms, together accounting for 85.0% of total import value. The remainder was distributed among a wide range of other countries.

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

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