Explained by the uncertainty reported in the markets due to covid-19 disease, in June 2020 the global food price index registered a 2% variation from the previous month.
The Food and Agriculture Organization of the United Nations (FAO) reported that due to market uncertainty caused by covid-19 disease, prices of vegetable oils, sugar and dairy products rebounded to their highest level in several months after sharp declines in May, while in the cereals and meat markets most prices came under downward pressure.
Nearby CIFCO, in San Salvador, is a sales point that, at a distance of 15 minutes walking, holds a captive market of 23 thousand people who together spend $6.5 million, and of them, 10% show interest in seafood.
In CentralAmericaData we developed a geomarketing tool based on interactive maps, through which you can identify where people are and what characteristics they have as consumers. The map incorporates, for any Central American country, the variables population, income, average monthly expenditure and consumer interests. With this information, it is possible to identify potential clients and define promotional strategies accordingly, or also explore home delivery times from any sales point.
Arguing that the unusual growth in sugar imports is harming local production, the Alvarado administration decided to raise the tariff on products entering Costa Rica from 45% to 73% for a three-year period.
The Ministry of Economy, Industry and Commerce (MEIC) concluded the investigation requested by the Agricultural Industrial League of Sugar Cane (LAICA) and 4 mills, on the safeguard measure against imports of solid state, granulated sugar, known as white sugar, used for domestic and industrial consumption, justifying a deterioration in the main economic indicators of the National Production Branch (RPN), details an official statement dated June 15.
From January to March 2020, companies in the countries of the region imported from Mexico fertilizers for $19 million, an amount that exceeds in 722% the reported in the same period of 2019.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
What to consume, what to stop consuming, which habits to adopt to improve health and to which lines of expenditure to invest more financial resources, are some of the questions that consumers in Central America are asking in the context of the new normal.
The covid-19 outbreak generated a revolution in the markets of Central America and its different economic sectors.
From July 27th to 30th, the XXIV International Tasting The Best of Panama will take place virtually, in which 45 producers registered a total of 161 specialty coffee lots.
Laestrella.com.pa reviews that "... The Specialty Coffee Association of Panama (SCAP) has completed the registration process and as of June 15 will receive 24,150 pounds of the world's most coveted coffee, which has been carefully selected by producers.
How many people are interested in this type of food, where they are located, how old are they and what is their monthly spending level, are some of the questions that can be answered with the use of specialized geomarketing tools.
At CentralAmericaData we have developed a geomarketing tool based on interactive maps, through which it is possible to identify where people are and what characteristics they have as consumers. The map incorporates, for any country in Central America, variables such as population, income, average monthly expenditure and consumer interests. With this information, it is possible to identify potential clients and define promotional strategies accordingly, or also explore home delivery times from any point of sale.
Foods whose properties and benefits are well defined, and are produced by companies with sustainable practices, have the greatest potential to gain ground in a market that has been rapidly transformed.
Although in recent weeks’ e-commerce and analysis of how consumers buy in times of quarantine has occupied most companies, there are other trends that could define the food market, once the most critical phases of the covid-19 outbreak are over.
In El Salvador, the Legislative Assembly decided to extend until June 1, 2021, the validity of the Decree of the Special Law to Facilitate the Cancellation of Agricultural and Livestock Debts.
The approval was made with the aim of giving the peasants who benefit from this regulation approved in 1998 a new period of 12 months to cancel the debts acquired with the banks, the Legislative informed.
When the country's authorities begin to relax the restrictions that have been taken to prevent the spread of covid-19, it is predicted that rotisserie chicken sales could fall by 2%.
Using a demand/income sensitivity model developed by the Commercial Intelligence Area of CentralAmericaData, variations in household demand for different goods and services can be projected as the most critical phases of the spread of covid-19 are overcome and the measures restricting mobility in the countries of the region are lifted.
Because the Asian giant is the world's largest buyer of fresh fruit and people are willing to consume new and tropical foods, the region's pineapple producers have the opportunity to increase their business with the Chinese market.
According to a study conducted by the Foreign Trade Promoter (Procomer), China remains one of the largest producers of fruit in the world, but quality remains a problem, so they are interested in imported fruit, added to consumers looking for better quality products as part of the search for a healthier lifestyle.
In the last five years, liquid milk sales in Central America increased 16%, from $3,935 million in 2014 to about $4,566 million in 2019, growth that was boosted by the Costa Rican and Honduran markets.
Figures from the "Liquid Milk Market Snapshot" prepared by the Trade Intelligence Unit of CentralAmericaData, detail that in the last five years the volume consumed at regional level of liquid milk registered an increase, since between 2014 and 2019 it is estimated that demand in Central America rose from 3,907 to 4,202 million liters.
So far this year, interest in fast food in Central American markets has clearly increased, with Guatemala, El Salvador and Costa Rica recording the largest increases in interactions associated with the topic.
Through a system that monitors real-time changes in the interests and preferences of consumers in Central American countries, developed by the Trade Intelligence Unit of CentralAmericaData, it is possible to project short and long-term demand trends for different products, sectors and markets operating in the region.
Interest in food and beverage products has clearly increased in recent weeks in the region's markets, with the trend being more evident in products such as baked goods, soups, liquors, fruits and vegetables, candies and fast food.
Through a system that monitors in real time changes in consumer interests and preferences in Central American countries, developed by the Trade Intelligence Unit of CentralAmericaData, it is possible to project short and long-term demand trends for the different sectors and markets operating in the region.
From January to September 2019, Central American exports of vegetables totaled $159 million, 21% more than reported in the same period in 2018, a rise that is explained by the behavior of sales to companies in the United States.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with graph"]