Guatemala: Cardamom Exports Recover

Favored by an improvement in international prices, from January to November 2017 the country sold $317 million worth abroad, 71% more than was exported in the same period in 2016.

Wednesday, January 17, 2018

In the first 11 months of 2016, the country sold $186 million worth of cardamom abroad, 11% less than was sold in the same period in 2015. 

However, for the months in question in 2016 and 2017, the export value went 71%, explained by an increase in the price of the fruit which rose from $6.42 per kilo in 2016, to $10.34 per kilo in 2017.

See "Monitoring of crops in Central America"

Jorge Mario del Cid, president of the Cardamom Committee of the Guatemalan Association of Exporters (Agexport), told that " ... by 2018, growth similar to that of 2017 is expected, in which the volume of the product fell, but exports grew because of the international price."

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Exports of Guatemalan cardamom producers improved during the last harvest, as a decline in global supply resulted in a 34% increase in the selling price.

According to figures from the Bank of Guatemala, the average price per quintal of cardamom sold abroad from the country reported a rise between February 2018 and the same month of 2019, going from $489.93 to $654.80, which is explained.

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In 2017, cardamom exports from Guatemala totaled $367 million, and the 60% increase compared to the previous year was mainly due to an increase in the international price.

The increase in export value was mainly due to an increase registered in the price of cardamom on the international market over the past year, as it increased from $6.42 per kilo in 2016 to $10.27 per kilo in 2017, which represents growth of 60%, which coincides with the increase in the amount sold abroad.

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After a difficult year because of the impact of the Thrips pest and declining international prices, at the end of 2014 $240 million were generated in export earnings.

With the annual increase of 10% in production, Guatemala maintains its global market lead in cardamom sales.