Coconuts, Brazil nuts and cashews market in Honduras

Earlier Report Observations

From 2018 to 2021, the market volume for coconuts, Brazil nuts and cashews in Honduras showed stability, fluctuating between 15,356 t and 15,667 t. A sharp decline occurred in 2022, with the market falling to 13,221 t. This drop was directly linked to a surge in exports, which jumped to 2,310 t that year. The market rebounded in 2023, reaching 15,714 t, as exports returned to their typical low level of 38 t.

In 2024, inflation estimated between 6-8% increased production costs for agricultural crops, including nuts. African palm oil remained a highly profitable crop, influenced by market demand and climate, which can affect agricultural land use. Honduras's significant potential for agricultural growth, due to diverse microclimates and underutilized land, may support future production and export activities.

Production coconuts, Brazil nuts and cashews in Honduras

In kind, 2017-2020, t

Top producers of coconuts, Brazil nuts and cashews, 2017-2020

World map of production of coconuts, Brazil nuts and cashews, 2017-2020

Honduras's production of coconuts, Brazil nuts, and cashews increased after two years of decline. In 2020, the country produced 15 570 tonnes, marking a slight year-over-year increase of 2.2%. The lowest production level was recorded in 2019 at 15 241 tonnes, while the largest decline occurred in 2018 with a 2.0% drop.

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

In value, 2017-2020, M $ US

Honduras's production value of coconuts, Brazil nuts, and cashews declined for the second consecutive year. In 2020, the output was valued at 143.9 million US dollars, reflecting a modest reduction of 3.3% compared to 2019. Over the period from 2017 to 2020, production value increased by 11.4%, with a compound annual growth rate of 3.7%. The highest value was recorded in 2018 at 159.7 million US dollars. The largest decline occurred in 2019 with a 6.9% decrease, while the largest increase was in 2018 with a 23.7% rise.

Annual dynamics of production in Honduras in value, 2017-2020, M $ US

Exports coconuts, Brazil nuts and cashews from Honduras

Exports in kind, t

In 2020, Honduras exported 52.6 tonnes of coconuts, Brazil nuts, and cashews, representing a steep decrease of 35.8% compared to the previous year. Between 2017 and 2020, exports fell by 54.5%, equating to an annualized decline of 23.1%. The largest drop was recorded in 2018 at 39.7%, while the largest increase occurred in 2019 with a 17.8% rise.

Annual dynamics of product's exports from Honduras in kind, 2017-2020, t

From 2017 to 2020, Germany, El Salvador, and Costa Rica were the top buyers of coconuts, Brazil nuts, and cashews from Honduras. Germany accounted for 31.8% of exports in kind, El Salvador for 19.8%, and Costa Rica for 17.9%. Together, these three countries represented 69.5% of total exports in kind.

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

In 2020, Honduras's exports of coconuts, Brazil nuts, and cashews totaled 485.9 thousand US dollars, indicating a sharp decrease of 39.3% compared to 2019. Over the period from 2017 to 2020, exports declined by 48.4%, with a compound annual growth rate of -19.8%. The largest increase was recorded in 2019 with an 11.7% rise.

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

From 2017 to 2020, Germany, El Salvador, and Costa Rica formed the main group of destinations for Honduras's exports in value terms. Germany accounted for 32.8% of exports, El Salvador for 21.8%, and Costa Rica for 17.6%. Combined, these three countries represented 72.3% of total export flows.

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

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

Imports coconuts, Brazil nuts and cashews to Honduras

Imports in kind, t

The market showed volatility during these years. In 2020, Honduras imported 150.3 tonnes of coconuts, Brazil nuts, and cashews, down by 23.8% year-over-year. The lowest import volume was recorded in 2018 at 90.8 tonnes, while the highest was in 2019 at 197.3 tonnes, creating a 2.2-fold gap between these years. The largest decline occurred in 2018 with a 41.6% drop, and the largest increase was in 2019 with a 117.2% rise.

Annual dynamics of product's imports to Honduras in kind, 2017-2020, t

From 2017 to 2020, Vietnam, Nicaragua, and the United States were the primary suppliers of coconuts, Brazil nuts, and cashews to Honduras. Vietnam accounted for 42.1% of imports in kind, Nicaragua for 30.0%, and the United States for 16.5%. Together, these three countries made up 88.5% of total imports in kind.

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 market exhibited volatility over the observed period. In 2020, Honduras imported coconuts, Brazil nuts, and cashews valued at 467.3 thousand US dollars, which is 37.7% less compared to 2019. The lowest value was recorded in 2018 at 434.6 thousand US dollars, while the highest was in 2017, resulting in a 1.9-fold difference between these years. The largest decline occurred in 2018 with a 47.9% drop, and the largest increase was in 2019 with a 72.6% rise.

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

From 2017 to 2020, Vietnam dominated Honduras's imports in value terms, accounting for 78.4% of total flows. Other countries together made up the remaining share.

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

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