From January to September 2020 exports from Central America of palm oil and its fractions totaled $648 million, an amount that exceeds by 12% what was reported in the same period of 2019.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with the graphic"]
During the first seven months of 2020, exports of palm oil and its derivatives from Central America to Mexican companies totaled $138 million, 22% more than the same period in 2019.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with graph"]
During the first half of 2019, exports from Central America of palm oil and its fractions reached $333 million, and sales to companies in Spain increased by 93% compared to the same period in 2018.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphics"]
Honduran palm growers do not see improvements in their business in the short term, since they foresee that during 2020 international oil prices will remain low.
Some time ago, businessmen of the sector have been alerting of the crisis they are suffering, because in the first days of July of this year the National Federation of Associations of Oil Palm Producers and Extractors of Honduras (FENAPALMAH) and the Industrial Association of Palm Oil Producers of Honduras (AIPAH), declared themselves in national emergency.
Palm oil producers and traders in Honduras can apply for refinancing or readjustment of loans they have with supervised financial institutions in the country until December 31 of this year.
In order to obtain these benefits, producers and/or traders in the African palm sector must benefit from these mechanisms by 31 December 2019, according to an official source.
Palm oil producers in Honduras declared a national emergency because of the crisis caused by the sharp drop in international prices.
In a statement issued by the National Federation of Associations of Palm Oil Producers and Extractors of Honduras (FENAPALMAH) and the Industrial Association of Palm Oil Producers of Honduras (AIPAH), it is considered that "...
Between February 2016 and March 2017, the average price of palm oil exports from Central America increased from $0.54 to $0.74 per kilo, however, in September 2018 the kilo of the product was resold at $0.54.
Figures from the Trade Intelligence Unit at CentralAmericaData: GRAFICA caption="Click to interact with graphic"]
Because of the decline in the international price of sugar in recent years, agricultural businessmen in Guatemala have decided to migrate to more profitable crops, such as bananas and African palm.
Last year, Guatemalan banana exports totaled $815 million, 4% more than the $782 million reported in 2017, a rise that is partly caused by the increase in the cultivated area in the country.
During the first six months of the year, palm oil sales from Central America reached $383 million, and exports to Spain increased 232% with respect to the first half of 2017.
Figures from the information system on the Palm Oil and its Components market in Central America complied by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
Between February 2016 and March 2018, the average price of palm oil exports from Central America registered an increase of 20%.
Figures from the information system on the Palm Oil Market and its Fractions in Central America, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with graph"]
In the first quarter of the year Honduras exported $45 million worth of palm oil and its derivatives, and 85% went to the Netherlands and El Salvador.
Figures from the information system on the Palm Oil Market and its Derivatives in Honduras, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with graph"]
Explained by sales to the Netherlands, last year Central America exported $1.344 billion worth of palm oil and its fractions, 74% more than in 2016.
Figures from the information system on the Palm Oil Market and its Fractions in Central America, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with graph"]
In 2017, the value of palm oil sales from Central America to Mexico grew by 23% compared to 2016, which contrasts with the declines registered in the previous four years.
Figures from the Palm Oil Market information system and its Fractions in Central America, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with graph"]
Between January and June 2017, Central American countries exported $378 million worth of palm oil, 22% more than was sold in the same period in 2016.
Figures from the Information System on the Market for Palm Oil and its Derivatives in CentralAmerica complied by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with graph"]