Costa Rica: Tariff Snapback Boosts Demand for US Rice
Link to report:
Costa Rica reinstated 35 percent tariffs on non-U.S.-origin rice after an administrative court overturned an August 2022 tariff reduction and the Government’s appeal was rejected. Demand for U.S. rice has surged following the tariff restoration on reduced South American-origin rice competitiveness. Costa Rican import demand has grown by more than 50 percent since 2022, as area planted to rice has fallen by more than half. U.S. rice exports to Costa Rica plummeted in late 2022 and had remained negligible in 2023, despite duty-free quotas totaling more than 75,000 metric tons.
