Coconuts market in Honduras

Earlier Report Observations

In 2018, Honduras' coconut production was impacted by an outbreak of lethal yellowing disease, a severe condition that destroyed palm trees and led to an estimated loss of 63 tonnes. This contributed to a decline in the overall market volume the following year, even as import levels increased to partially offset the domestic shortfall.

Over the subsequent years through 2023, the coconut market volume demonstrated stability, fluctuating within a narrow range around 13 400 tonnes. During this period, the broader Honduran agri-food sector experienced growth in crops like cocoa and oil palm, which may have indirectly influenced the tropical products segment, including coconuts.

By 2023, the market volume had recovered to over 13 400 tonnes. Global factors, such as production crises in major Asian coconut-growing nations, created potential opportunities for Central American producers like Honduras, though a direct effect on market size within the reviewed period was not explicitly documented.

Production coconuts in Honduras

In kind, 2017-2020, t

Top producers of coconuts, 2017-2020

World map of production of coconuts, 2017-2020

Honduras's coconut production rebounded in 2020 after two consecutive years of decline. The country produced 13 441 tonnes of coconuts that year, marking a 2.3% increase compared to 2019. Looking at the broader period from 2017 to 2020, production actually decreased by 2.3%, which translates to an average annual decline of 0.8%. The lowest production level was recorded in 2019 at 13 133 tonnes, while the most significant year-on-year drop occurred in 2018 with a 2.3% decrease.

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

Exports coconuts from Honduras

Exports in kind, t

In 2020, Honduras exported 6.2 tonnes of coconuts to foreign markets, representing a 12.2% increase from the previous year. However, over the four-year span from 2017 to 2020, coconut exports from the country declined substantially by 53.2%, with an average annual decrease of 22.4%.

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

From 2017 to 2020, the United States, El Salvador, and Nicaragua were the primary destinations for Honduras's coconut exports by volume. The United States accounted for 53.1% of exports, El Salvador for 24.8%, and Nicaragua for 22.1%. Together, these three countries represented 100% of Honduras's total coconut exports during this period.

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

Honduras's coconut exports generated 19.5 thousand US dollars in revenue in 2020, an 8.0% increase from 2019. Over the 2017-2020 timeframe, export earnings grew significantly by 183.6%, averaging an impressive 41.6% annual growth rate.

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

Between 2017 and 2020, El Salvador and Nicaragua dominated Honduras's coconut export market in value terms, collectively accounting for 84.5% of total export revenue. The remaining 15.5% was distributed among various other markets.

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 to Honduras

Imports in kind, t

Coconut import volumes into Honduras showed considerable volatility during these years. Imports reached their lowest point in 2020 at 36.7 tonnes, which was 67.8% lower than the previous year. The peak occurred in 2019 with 114.1 tonnes imported, representing a 102.2% increase from 2018. The difference between the highest and lowest import volumes was substantial, with 2019 imports being 3.1 times greater than those in 2020.

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

From 2017 to 2020, Nicaragua, the United States, and the Philippines were the main sources of coconut imports into Honduras by volume. Nicaragua supplied 47.1% of imports, the United States 30.8%, and the Philippines 10.2%. Combined, these three countries accounted for 88.2% of Honduras's total coconut imports during this period.

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

Honduras's coconut import spending displayed notable fluctuations. In 2020, imports totaled 95.1 thousand US dollars, a 43.5% decrease from 2019. The highest import value was recorded in 2019 at 168.2 thousand US dollars, which represented a 71.0% increase from the previous year. The import value in 2019 was 1.8 times higher than in 2020.

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

During the 2017-2020 period, the United States, Costa Rica, and the Philippines were the leading suppliers of coconuts to Honduras in value terms. The United States accounted for 44.3% of import spending, Costa Rica for 27.0%, and the Philippines for 18.9%. Together, these three countries represented 90.2% of Honduras's total coconut import expenditure.

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

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