The US, Hong Kong and Germany were the main importers of medicinal plants and herbal products in 2016, while the Costa Rican market for these products reached $22 million.
Wednesday, May 17, 2017
A study by Procomer of Costa Rica states that "... the country has a share of 0.1% of world exports of medicinal plants and 0.05% of the world market of herbal / traditional products, this is a loss of a significant opportunity given that the market is growing worldwide (+ 2% for plants and + 4% processed products) and in Costa Rica (+ 14% for plants and + 3% processed products)."
From the executive summary of the report entitled "Characterization of the productive sector of medicinal plants in Costa Rica:
Costa Rica as a country has a long tradition in consumption of medicinal plants that come from indigenous groups, Afro-Costa Ricans and Caucasians, it has a latent supply for fresh or processed plants, however this is not sufficiently developed, the country has a 0.1% share of world exports of medicinal plants and 0.05% of the world market for herbal / traditional products, this represents the loss of a significant opportunity given that the market is growing worldwide (+ 2% for plants and + 4% processed products) and in Costa Rica (+ 14% for plants and + 3% processed products).
The State, through the action of ministries, universities and international organizations, has sought to promote the development of sustainable and profitable production for communities, especially rural ones. However, so far, the sector has not been able to thrive, mainly because of access to financing, lack of commercial vision, lack of consistent association, and customers who buy the product both locally and internationally, elements that are very much linked to the fulfillment of quality standards that have not been developed.
If Central America does not add more value-through diversification and industrialization to its currently limited supply of agricultural products it will be difficult for it to capitalize on the growth of these markets.
A study by the Association for Research and Social Studies analyzes Central American trade relations with India and China, and concludes that it is necessary to achieve a higher level of industrialization and diversification of the export supply in order to capitalize on the growing markets of these two countries.
In 2014 average household spending on soft drinks, beers and soft drinks increased by 17%, while that of dairy products grew by 8%.
From a statement issued by the Foreign Trade Promotion Office of Costa Rica:
The purchasing power of the population of Panama has been strengthened in recent years, thanks to the rapid economic growth of this country, which according to World Bank figures, has an annual per capita income of over $10,000.
The Costa Rica Foreign Trade Promotion Office has presented a study on the Swiss market, with the opportunities available for Costa Rican exports.
The findings of the mapping of the Swiss market by PROCOMER are applicable to all Central American countries, with appropriate adjustments according to the exportable supply of each.
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6931Government Procurement Opportunities in the region