Guatemalan Cardamom with Good Figures

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.

Monday, November 18, 2019

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.

You may be interested in "Crops in Central America: Main Figures in 2018"

Jorge Mario del Cid, president of the cardamom committee of the Guatemalan Association of Exporters (Agexport), explained to that "... in the international market exists a rise in the price of cardamom. The price is high because of the scarcity in India and Guatemala and at a lower production higher price."

According to producers, climatic variation is the main reason for the local crop to shrink this year.

Del Cid added that "... the rains in May, June and July were very low compared to the normal period and caused the delay the harvest which regularly starts in September, but now starts in October. The export of the last harvest 2018/19 was about 37 thousand tons and is higher than the average of recent years which is 33 thousand tons and for this new harvest 'it is not known' how much could be below that percentage."

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Cardamom Sales Improve

May 2019

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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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. 

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A rebound in prices late last year meant that between September and June exports ascend to $235 million, 15% more than in the same period in the previous harvest.

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