Honduras: Banana Generates $107.9 Million in Two Months
Banana exports from Honduras generated 107.9 million dollars in foreign currency to the country’s economy during the first two months of 2023, an increase of 49.5 million dollars to that period of 2022, when sales totalled 58.4 million dollars.
With these figures, bananas retake the second position as the product that generates the most foreign currency in Honduras, after coffee, which was temporarily occupied by crude palm oil at a specific moment. The combination of an improvement in international prices and the increase in exported volumes has favoured banana exports.
In January and February, 3,906 million boxes of 40 pounds were sent to the international market, compared to 3,201 million boxes registered in the previous year.
The average international price for the first two months grew 51.3 per cent year-on-year (equivalent to $36.6 million as a price effect), particularly in the North American market.
On the other hand, the volume showed an increase of 22.0 per cent ($12.9 million volume effect), equivalent to 705.0 thousand boxes of 40 pounds, explained by the positive performance of the cultivated areas. During the first two months of 2023, exports of goods including Agriculture, Livestock, Forestry, and Fishing, reached 184.8 million dollars, 42.3 million (29.6%) more than in the same period of 2022. This report was presented by the Central Bank of Honduras (BCH) through the Sub-management of Economic Studies Department of Macroeconomic Statistics.