Potato Market Overview in Costa Rica
In value terms, potato production skyrocketed to $ in 2019 estimated in export prices. Overall, production showed a prominent increase. The pace of growth appeared the most rapid in 2014 with an increase of % y-o-y. Over the period under review, production hit record highs in 2019 and is likely to see gradual growth in the near future.
In 2019, the average potato yield in Costa Rica totaled tonnes per ha, therefore, remained relatively stable against the previous year. Overall, the yield saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2012 when the yield increased by % against the previous year. The potato yield peaked in 2019 and is likely to see steady growth in the near future. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2019, the total area harvested in terms of potatoes production in Costa Rica rose to ha, surging by % on 2018. Over the period under review, the total harvested area indicated pronounced growth from 2007 to 2019: its figure increased at an average annual rate of +% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, potato harvested area increased by +% against 2017 indices. The most prominent rate of growth was recorded in 2014 with an increase of % y-o-y. The potato harvested area peaked at ha in 2016; however, from 2017 to 2019, the harvested area failed to regain the momentum.
The size of the potato market in Costa Rica surged to $ in 2019, picking up by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2014 when the market value increased by % against the previous year. Over the period under review, the market attained the peak level in 2019 and is expected to retain growth in years to come.