Guatemala exports to South Korea and China have increased by 185% and 382%, respectively.
Details from the Guatemalan Association of Exporters (Agexport) show that South Korea and China are the two Asian countries with the most products sales from the Central American nation, with honey, sugar and shrimp being the main exports.
" ... Over the past year the value of products shipped to South Korea totaled $151.5 million, while in 2012 $53 million was sold, representing an increase of 185.5 %," said Estuardo Castillo, president of Agexport.
Sugar sales were $55.6 million in February 2012, $34 million more than in February last year, meanwhile producers claim that there is a large interest in purchases by Russian factories.
Sugar exports increased by 20% at the beginning of the year, said Mario Amador, Executive Director of the National Committee of Sugar Producers, CNPA.
According to data provided by the Center for Exports (Cetrex), up to February 2011, sales of the sweetener had generated income for the country by the order of U.S. $21.5 million versus the $55.6 million generated in the same period in 2012 .
Sector producers attribute the growth to increased global demand. The goal is to produce 2.3 million tons by May.
The Guatemalan Sugar Association (Azasgua) stated that sugar exports increased by 19.25% in the last harvest. The estimate was made from November 1st, 2011 (start date of the harvest) to January 8th, 2012.
The information indicates that in the aforementioned time period production amounted to 18,486,039 quintals, while a year ago, the crop in the same period was 17,423,612 quintals. The increase is 1,062,427 quintals, which represents growth of 6.10%, according to the online edition of the newspaper Siglo 21. The production season ends in May, when they hope to reach 2.3 million metric tons.
Industry insiders report 10% growth in production volume, jobs and export revenue.
Boosted by increased demand in the United States and higher international prices, Honduras' sugar industry is experiencing generalized growth of around 10%.
"José Martín Chicas, vice president of the Honduran National Industry Association, the U.S. market is growing at rates above 10% and Honduras is seeking more through its Free Trade Agreements with Europe", reported newspaper Proceso Digital.
The Canadian company signed an option agreement for further exploration of the Zungano concession in Nueva Segovia, Nicaragua.
The Company has agreed to make expenditures totaling US$ 4.92 million over 51 months including exploration work, social programs, and payments to the current concession holder. If these obligations are fulfilled the concession will be totally controlled by the Company and the current owner will retain a residual royalty on gold sales of 1.5 percent to a maximum total of US$ 10 million.
The company predicts that it will export 80 million liters of ethanol to Europe in 2009 which will generate $56 million in income.
Nicaragua Sugar Estates Limited, which is owned by the Pellas Group, owns Ingenio San José, through which it produced and exported 20 million liters of ethanol in 2007, 50 million in 2008, and it plans to reach 80 million this year.