The 2016/17 harvest closed with a total export amount of 29,700 tons, equivalent to $300 million in revenues, 30% more than in the previous season.
Friday, October 13, 2017
In the harvest that just ended, the improved revenue was achieved with a lower export volume, due to an increase in the international price.In the 2016/17 season, 38 thousand tons were exported and $230 million were generated.
Dca.gob.gt reports that "...As of August, a kilo of this green bean was quoted at US $10.32 (Q75.74), that is to say, 80.4 percent more than the value (US $5.72, Q41.98) it had in the same month in 2016, placing it in the seventh position out of the 25 main export products, according to Banco de Guatemala."
"...On the other hand, the amount sold up to August 2016added up to 27 thousand 317.3 million kilos, while in the first eight months of this year producers only sold 22 thousand 491.5 million kilos. Domestic production, which covers 60% of world demand, is bought by countries such as the Arab Emirates, which absorbs 32%, Saudi Arabia (29%), Bangladesh (5%), Jordan (4%) and 17 more countries."
In the first nine months of 2019, cardamom exports grew 52% over the same period in 2018, a rise explained by global product shortages and high demand in the Middle East market.
Figures from the Bank of Guatemala state that between January and September 2018, and the same period in 2019, foreign sales of cardamom increased by $132 million, from $253 million to $385 million.
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.
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.
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.