Cocoa butter market in Honduras

Earlier Report Observations

The Honduran cocoa butter market saw a sharp decline in 2019, with production dropping to 122.7 т and market volume falling to 127.1 т. This followed a year of accelerated cocoa production initiation and strong export growth in 2018. The sector's consolidation under the third Competitiveness Framework Agreement (2019-2022), which aimed to address structural challenges like low productivity and the need for organic certification, contributed to this transitional contraction as the industry adjusted to new standards.

From 2020, the market entered a sustained recovery. Production grew to 137.7 т in 2020 and then jumped to 227.7 т in 2021. This rebound was propelled by the international success of local brands like Ibagari Chocolate, which won awards and expanded its product range, stimulating demand. Increased interest from European companies in securing high-quality Honduran cocoa further encouraged production. Growth continued in 2022, with output reaching 259.4 т, supported by rising imports of cocoa products for chocolate manufacturing and the development of local processing capacity, including the Chocolates del Caribe plant.

Production advanced to 287.1 т in 2023, with the market volume reaching 289.9 т. The sector's ongoing focus on quality, participation in international trade events, and public-private efforts to strengthen the cocoa value chain provided a foundation for this expansion.

Production cocoa butter in Honduras

In kind, 2017-2020, t

Top producers of cocoa butter, 2017-2020

World map of production of cocoa butter, 2017-2020

The market showed significant volatility during these years. Production reached its lowest point in 2017, then peaked in 2018 with a 5.8-fold difference between these two years. In 2020, Honduras produced 137.7 t of cocoa butter, marking a strong 12.2% increase compared to the previous year. The highest production level was recorded in 2018 at 318.7 t. The largest decline occurred in 2019 with a 61.5% drop, while the most substantial increase was in 2018 with a 475.3% surge.

Annual dynamics of production in Honduras in kind, 2017-2020, t

Exports cocoa butter from Honduras

Exports in kind, kg

Export volumes showed noticeable fluctuations throughout the period. From the low in 2020 to the high in 2017, volumes varied 761 times. In 2020, Honduras exported 32 kg of cocoa butter, representing a sharp 98.4% year-over-year decline. The largest decrease was recorded in 2018 at 99.7%, while the most significant increase occurred in 2019 with a 2 958.3% rise.

Annual dynamics of product's exports from Honduras in kind, 2017-2020, kg

Between 2017 and 2020, the Netherlands remained the primary export market for cocoa butter in kind, accounting for 75.5% of total flows. The remaining volume was distributed across numerous other destinations.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Honduras in kind, 2017-2020

Exports in value, K $ US

The export market demonstrated volatility during the observed period. The lowest value was recorded in 2020, while the highest was in 2017, reflecting a 463-fold gap between these years. In 2020, cocoa butter exports from Honduras reached 0.3 K $ US, equivalent to a steep 98.7% loss compared to 2019. The largest decline occurred in 2018 at 99.6%, while the most substantial increase was in 2019 with a 4 581.0% surge.

Annual dynamics of product's exports from Honduras in value, 2017-2020, K $ US

From 2017 to 2020, three principal markets—the Netherlands, Canada, and the United States—together accounted for 90.2% of Honduras's total cocoa butter exports in value terms.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Honduras in value, 2017-2020

Imports cocoa butter to Honduras

Imports in kind, kg

Import volumes experienced significant fluctuations during this period. Volumes dropped to their minimum in 2020 after reaching their maximum in 2018, showing a 2 733-fold shift. In 2020, Honduras imported 6 kg of cocoa butter, representing a sharp 99.9% contraction from the previous year. The highest import volume was recorded in 2018 at 15 742 kg, while the largest increase occurred that same year with a 274.6% rise.

Annual dynamics of product's imports to Honduras in kind, 2017-2020, kg

Throughout 2017–2020, Ecuador and Costa Rica played central roles in cocoa butter imports in kind, together accounting for 79.1% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Honduras in kind, 2017-2020

Imports in value, K $ US

The import market exhibited an unstable trend throughout the timeframe. Values reached their peak in 2018 and fell to their trough in 2020, showing a 411-fold swing. In 2020, cocoa butter imports to Honduras amounted to 0.3 K $ US, reflecting a 99.4% decline relative to the prior year. The maximum value was recorded in 2018 at 105.4 K $ US, while the largest increase occurred that same year with a 307.4% surge.

Annual dynamics of product's imports to Honduras in value, 2017-2020, K $ US

Throughout 2017–2020, Ecuador played the leading role in cocoa butter imports in value terms, with a share of 75.8% of total flows, while other markets together accounted for the remainder.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Honduras in value, 2017-2020