Costa Rican pineapple and banana exports are falling due to high costs

Published 2023년 1월 20일

Tridge summary

Costa Rica's top three exports, pineapple and banana, saw a decline in 2022 due to international market uncertainty and high production costs. The war between Russia and Ukraine specifically impacted banana exports, which fell from $692.1 million to $672.5 million from January to November. Pineapple exports also decreased, from $666.7 million to $655.8 million. The price of imported commodities like fertilizers contributed to a decrease in yield, and banana production was also affected by cold weather and heavy rainfall. The global economic slowdown is expected to impact supply chains and the performance of Costa Rican exporters.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Exports of pineapple and banana, two of Costa Rica's top three exports, declined in 2022 due to uncertainty in the international market and high production costs. Both sectors have been affected by the war between Russia and Ukraine, but banana the most. From January through November, banana exports fell from $692.1 million in 2021 to $672.5 million in 2022 (the figures for April, May and June are not included in the statistics due to a hack of the Treasury Department). The value of pineapple exports went from $666.7 million (2021) to $655.8 million (2022) in the first eleven months of the year. Between 2021 and 2022, banana exports decreased by 145,000 tons (-8.86%). Pineapple sold only 19,700 tons (-1.63%). According to the most recent Monthly Index of Economic Activity (IMAE) of the Central Bank of Costa Rica, increases in the prices of imported commodities, such as fertilizers, led to a decrease in the yield of both fruits. Jorge Sauma, director of Corbana, the national banana ...

Source: AGF