NOVA MEDIA PUBLISHING INC.

Honduras: Banana Exports Start To Improve After Four Consecutive Drops

24.8.2018

Good news in the context of the trade balance during the first half of the year, comes from banana exports worth  276 million dollars, 4.2 million higher than the 271.8 million dollars in 2017, thanks to a better price in the international market, according to the Central Bank of Honduras (BCH).

Between last January and June, Honduras exported 15,330 boxes of 18 kilos of bananas, which means a decrease of 10.2 percent, in relation to the 17,062 boxes sold in that period of 2017. However, the rise in income is due to the increase in the price of 13 percent, despite the volume drop.

The lower volumes are related to the fertilization process, among other jobs, which were stopped during a workers' strike in one of the companies and also due to the impact of the weather.

The price of the banana box reached an average of 18 dollars, 13 percent higher than the reference period of 2017, when it was quoted at 15.93 dollars, according to the same report of the Central Bank of Honduras.

The United States is the main destination of Honduran banana exports, buying 14 thousand 260 boxes (93 percent) of the total sold.

Banana is the second product that generates the most dollars to the country's international reserves, the first is coffee with an approximate of 1,200 million expected for this year.

The third is palm oil, which also records less income due to a price collapse (7.6%) and fewer orders from Europe due to the strong competition from Malaysia and Indonesia, which produce 85% of the total offered worldwide.

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