To stop competing with low prices, companies in Honduras focus on improving the quality of the grain they produce.
In the last few days on the New York Stock Exchange the ton of cocoa has been quoted at about $2,655, however, the better quality produced in the country allows companies like Chocolats Halba to pay local producers $4,000 per ton.
Luis Velex, manager of Chocolats Halba, a company that began operations in Honduras in 2008, told Laprensa.hn that "... Before we came here, there wasn't even a pound of fine chocolate produced here. This post-harvest process was taught, and our technicians follow up to ensure that the quality is maintained."
In the first quarter of 2019, the countries of the region imported 31,943 tons of candies, chocolates and other cocoa-based preparations, a volume 6% higher than that reported during the same period in 2018.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAPHIC caption="Click to interact with graphic"]
Producers in El Salvador, Honduras and Guatemala, will have a processing plant, technical assistance and a global distribution network.
The funds from the Italian-Latin American International Organization (IILA) and the Italian Agency for Development Cooperation (AICS) are part of the project entitled "Revitalization of the quality cocoa chain in Central America and the Caribbean."
Last year exports of 17 types of fruits, vegetables and organic grains may registered a 4% increase compared to 2016.
In the last ten years, the number of agricultural producers dedicated to the cultivation of fruits, vegetables and organic grains increased from 1,500 to 6,451, according to figures from the National Secretariat for Health and Food Safety (SENASA). Also in the last decade, it is estimated that the planted area grew from 4,400 hectares to 31 thousand hectares.
On October 24th, a meeting of cocoa producers will be held in San Pedro Sula, where topics such as genetics and market opportunities will be discussed.
The forum, organized by the National Association of Cocoa Producers in Honduras, is expected to involve 400 producers and members of the National Committee of the Cocoa Chain.
In 2016 Central American countries imported $329 million worth of confectionary, chocolates and other preparations based on cacao, 7% more than in 2015.
Figures from the information system on theConfectionery and Chocolates Market in Central America, compiled by the Business Intelligence Unit atCentralAmericaData: [GRAFICA caption = "Click to interact with the graph"]
At the beginning of April, cocoa futures prices continued the sustained downward trend initiated from the latter part of the previous month.
From the monthly report by the Cocoa International Organization:
Price movements
In April, the ICCO daily price averaged US$1961 per tonne, down by US$97 compared to the average price recorded in the previous month (US$2,058) and ranged between US$1,833 and US$2,123 per tonne.
At $500 million a year, the balance of trade between the two countries has risen, with growth in Honduran exports of cocoa and coffee to Costa Rica.
Although historically the trade balance has been a surplus for Costa Rica, with an average of $350 million in goods and services sold annually to the Honduran market, authorities have reported a steady increase in sales of Honduran coffee and cocoa to the Costa Rican market.
Through an agreement with the union of entrepreneurs from Cortes Honduran companies have been identified that are able to export agricultural products such as coffee, cocoa, fruits and fresh vegetables.
The Chamber of Commerce and Industry of Cortés has signed an agreement with the Center for Promotion of Imports (CBI) in the Netherlands, in order to identify companies that have the potential and ability to sell their products in the European country.
Between January and September 2016 Central American countries as a whole imported a monthly average of $26 million worth of confectionery and chocolates.
Data from a report entitled 'Candy and Chocolate Marketin Central America',presented by the Business Intelligence Unit at CentralAmericaData: [Figure caption = "Click to interact with graphics"]
Fresh fruits, processed fruits, concentrates and fruit juices, coffee and cocoa are the main products with potential for export to China.
From a statement issued by Procomer of Costa Rica:
San José, November 18, 2016. Fresh fruits, processed fruits, concentrates and fruit juices, as well as coffee and cocoa are the main Costa Rican products that have potential for export to the Republic of Korea; a developed country with sophisticated and demanding consumers, in terms of innovation and quality.
Ecuador is preparing a plan to reactivate the production of fine cocoa and plans to increase sales in the international market in 2025 to $3 billion.
The recovery plan for aromatic fine cocoa will raise sales in the international market to $3 billion in 2025, above bananas and shrimp, which are Ecuador's star products.
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.
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