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.
Although Guatemala's foreign sales continue to decline, an improvement is expected towards the end of the year, which would be explained by a rebound in the prices of some agricultural products.
Figures from the Bank of Guatemala (Banguat) specify that in the first six months of the year sales abroad totaled $5,666 million, a figure that is just 0.3% lower than the $5,681 million reported in the same period of 2018.
Although in the first nine months of the year foreign sales fell almost 3% compared to the same period in 2017, the Banco de Guatemala forecasts that the trend will be reversed by the end of 2018.
The fall in the international prices of sugar, coffee and natural rubber, largely explain the decline in income from sales abroad. According to figures from the Banco de Guatemala (Banguat), up to September, foreign sales totaled $8.147 million, 2.6% less than the figure recorded in the first nine months of last year.
The FAO food price index registered an interannual decrease of close to 1%, due to weakening in most markets, as a result of tensions in international trade relations.
From the monthly FAO report:
The FAO Food Price Index* (FFPI) averaged 173.7 points in June 2018, down 2.4 points (1.3 percent) from its level in May, representing the first month-on month decline since the beginning of this year.
World production projected for the end of 2015/16 cycle will decrease by 6% compared to the period 2014/15.
From a report at the end of August by the International Cocoa Organization:
London, 31 August 2016--The International Cocoa Organization today releases its revised forecasts for the current 2015/2016 cocoa year and revised estimates of world production, grindings and stocks of cocoa beans for 2014/2015, as summarized below.
It is estimated that "the worst of the crisis" in international milk prices could be ending this year, with better levels starting to be established in 2017.
In an event held in Managua, experts from the Pan American Dairy Federation (FEPALE), explained the trend seen in the international price of milk and the effect it has had on exports from countries such as Nicaragua, which ranks as the fourth largest exporter of milk and dairy products in Latin America.
The FAO food price index rose slightly in March due to sharp increases in prices of sugar and palm oil.
From a press release by the Food and Agriculture Organization:
The FAO Food Price Index* (FFPI) averaged 151.0 points in March 2016, up 1.0 percent from February, but almost 21 points (12.0 percent) below its March 2015 level. The main feature last month was the strong rebound in sugar prices, which, combined with a further increase in vegetable oil quotations, more than offset a plunge in dairy values. International prices of the other commodities used in the calculation of the FFPI changed little.
It has been projected that the international price, which is trading above $3,200 a metric ton, will maintain its upward trend, favoring Nicaraguan producers.
Demand for chocolate is pushing up grain prices, which is complemented by a decline in cocoa production in other countries engaged in farming.
Manfred Günkell, general manager of Ritter Sport in Nicaragua, told Elnuevodiario.com.ni that "...
Subsidies on exports to India and improvement in the competitiveness of Brazilian sugar, caused by devaluation of the real, explain part of the decline in international coffee prices.
The union of sugar producers in Honduras states that the country currently loses between $25 and $40 per hundredweight exported to the international market, on average a total of $40 million.
In Costa Rica the cost that petroleum and its derivatives represent for the productive activities is an example of the distortions caused by the State in the prices of a vital input for the economy.
From a statement issued by the Chamber of Industries of Costa Rica (ICRC):
The Chamber of Industries of Costa Rica has questioned the increase requested by RECOPE on February 13.
In January the consumer price index recorded a negative change of 0.25%, explained by the reduction in the category of Transportation, Recreation and Culture and Food & Beverage.
From a report by the Central Bank of Nicaragua:
Monthly inflation in January closed -0.25% (0.73% in December 2014), mainly explained by lower prices for some goods and services in the divisions of transport (-2.72%); recreation and culture (-3.99%); and food and non-alcoholic beverages (-0.11%) , which together contributed -0.394% to the observed variation. In contrast, the division of restaurants and hotels showed the opposite behavior with a variation of 0.71% (0.073%).
Instead of liberalizing the price of grain from 2015, the government is considering implementing a gradual deregulation scheme.
In order for the local price of rice to approach the international price, the Costa Rican authorities will substitute, in the first weeks of next year, the decree liberalizing the price of rice and look for "... Another decree which contains a process that allows the price of rice to reach similar (international) levels . "
In November, the consumer price index recorded a rise of 1.39%, placing accumulated inflation since January at 6.50%.
From the inflation report by the Central Bank of Nicaragua:
November's monthly inflation rate stood at 1.39% (0.45% in December 2013), mainly determined by the behavior of prices in the divisions of food and non-alcoholic drinks; restaurants and hotels; and recreation and culture, which together contributed 1.50% to the observed variation. In contrast, the transport division saw a fall of 1.87%.
Projections are that next year's global grain production will remain insufficient to meet the growing demand, raising the international price to historically high levels.
In the international market the price of cocoa reported a 10% increase up to September this year, reaching $3.39 per ton of grain in the stock market in New York. It is expected that this trend will continue in 2015 due to high demand for the product.
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