Maize market in Honduras

Earlier Report Observations

Honduras' maize market experienced notable shifts between 2018 and 2021. Production started strong at 705 thousand tonnes in 2018, driven by an expansion of harvested area and favorable weather conditions. The following year, output fell to 589 thousand tonnes, coinciding with reported decreases in domestic supply and a severe contraction in exports. A partial recovery occurred in 2020, with production rising to 667 thousand tonnes and total market volume reaching 1 426 thousand tonnes. Production then stabilized at 673 thousand tonnes in 2021, with the market volume remaining steady at 1 422 thousand tonnes.

The market dynamics changed from 2022 onward with direct state intervention. The government launched the Productive Technology Bonus (BTP), distributing seeds and fertilizers to support half a million producers. This contributed to a production increase to 684 thousand tonnes in 2022, although total market volume surged to a high of 1 714 thousand tonnes primarily due to a sharp rise in imports. In 2023, production reached a record 727 thousand tonnes, bolstered by continued government support and the adoption of advanced technologies, even as producers faced higher input costs following the war in Ukraine. The total market volume subsequently declined to 1 560 thousand tonnes as imports fell.

For 2024, reported imports stood at 987 thousand tonnes. Sector developments included a significant agreement between producer associations and agro-industry to supply white maize at a guaranteed price for human consumption, overseen by government agencies. The sector continued to navigate challenges such as high production costs, import competition, and the ongoing influence of the CAFTA trade agreement.

Production maize in Honduras

In kind, 2017-2020, K t

Top producers of maize, 2017-2020

World map of production of maize, 2017-2020

Honduras produced 666.8 thousand tons of maize in 2020, marking a 13.2% increase from the previous year. Looking at the period from 2017 to 2020, overall production declined by 2.5%, with an average annual growth rate of 0.8%. The lowest production level was recorded in 2019 at 589.0 thousand tons, while the peak occurred in 2018 with 705.3 thousand tons. The most significant drop in production happened in 2019, when it fell by 16.5%.

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

In value, 2017-2020, M $ US

Following two years of decline, Honduras's maize production rebounded in value terms. In 2020, the output was valued at 3 325 million US dollars, representing a substantial 24.5% increase compared to 2019. Over the 2017-2020 period, production value decreased by 23.5%, translating to an average annual decline of 8.6%. The lowest value was recorded in 2019 at 2 671 million US dollars, with the largest decline occurring in 2018 at 27.7%.

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

Exports maize from Honduras

Exports in kind, K t

The export market for maize from Honduras showed considerable volatility during these years. Exports reached their lowest point in 2017 and peaked in 2018, with a 2.1-fold difference between these two years. In 2020, Honduras exported 0.8 thousand tons of maize, reflecting a sharp year-on-year increase of 33.7%. The highest export volume was recorded in 2018 at 1.0 thousand tons. The most significant decline occurred in 2019 with a 37.6% drop, while the largest increase was in 2018 at 106.5%.

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

From 2017 to 2020, Colombia remained the primary destination for Honduras's maize exports in volume terms, accounting for 78.7% of total shipments. The remaining volume was distributed among various other markets.

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, M $ US

In 2020, Honduras exported maize worth 4.2 million US dollars, indicating a 47.1% year-on-year increase. Between 2017 and 2020, export value grew by 35.1%, equivalent to an average annual rate of 10.5%. The lowest value was recorded in 2019 at 2.8 million US dollars, while the peak occurred in 2018 at 4.5 million US dollars. The most significant decline happened in 2019 with a 36.6% drop.

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

Throughout the 2017-2020 period, Colombia dominated Honduras's maize exports in value terms, capturing 87.4% 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 maize to Honduras

Imports in kind, K t

Maize imports into Honduras increased for the third consecutive year. In 2020, import volume reached 759.9 thousand tons, corresponding to a significant 10.1% year-on-year gain. Over the 2017-2020 period, imports grew by 56.1%, with an average annual growth rate of 16.0%.

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

From 2017 to 2020, virtually all maize imports into Honduras in volume terms came from the United States, which accounted for 98.4% of total import 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, M $ US

Maize imports into Honduras increased in value for the third year in a row. In 2020, imports reached 157.7 million US dollars, up 8.5% from the previous year. Over the 2017-2020 period, import value rose by 65.4%, with an average annual growth rate of 18.3%.

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

Throughout the 2017-2020 period, the United States remained the nearly exclusive supplier of maize to Honduras in value terms, with a share of 96.3% of total imports.

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

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