Raw cane or beet sugar in solid form market in Honduras

Earlier Report Observations

The Honduran raw sugar market began the period with strong production of 546 thousand tons in 2018, supported by favorable tropical climate conditions for sugarcane cultivation. However, domestic market volume declined to 387 thousand tons in 2019 as increased export demand, with shipments growing 32% that year, diverted more sugar abroad. This export surge aligned with a broader 24.5% rise in sugar exports between 2017 and 2019.

Production continued to decrease in 2020, leading to a further contraction in domestic availability. A sharp drop in exports to 85.8 thousand tons in 2021, however, offset lower production and allowed the domestic market volume to recover to 358 thousand tons that year despite output falling to 444 thousand tons.

Market volume expanded significantly to 414 thousand tons in 2022 driven by a rebound in production to 530 thousand tons. This recovery was facilitated by industry investments in new technologies and crop renewal aimed at maintaining competitiveness. In 2023, an increase in Honduras's sugar import quota to the United States under WTO arrangements, which allocated the country a 7% share, boosted exports to 156.5 thousand tons. The consequent diversion of supply reduced domestic market volume to 370 thousand tons.

Production raw cane or beet sugar in solid form in Honduras

In kind, 2017-2020, K t

Top producers of raw cane or beet sugar in solid form, 2017-2020

World map of production of raw cane or beet sugar in solid form, 2017-2020

Honduras experienced a second consecutive year of decline in raw cane or beet sugar production in solid form. In 2020, the country produced 490.2 thousand tons, marking a 9.1% decrease from the previous year. Over the 2017-2020 period, production fell by 8%, with an average annual decline of 2.7%. The peak production occurred in 2018 at 546.0 thousand tons, which also saw the largest annual increase of 2.5%.

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

In value, 2017-2020, M $ US

Honduras saw a third consecutive year of decline in the value of raw cane or beet sugar production in solid form. In 2020, the output was valued at 171.9 million US dollars, down 3.7% from 2019. From 2017 to 2020, production value decreased by 30.4%, translating to an average annual decline of 11.4%.

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

Exports raw cane or beet sugar in solid form from Honduras

Exports in kind, K t

In 2020, Honduras exported 147.5 thousand tons of raw cane or beet sugar in solid form, a 2.8% decrease from the previous year. Over the 2017-2020 period, exports increased by 21.2%, with an average annual growth rate of 6.6%. The lowest export volume was recorded in 2018 at 114.9 thousand tons, while the highest was in 2019 at 151.8 thousand tons. The largest decline occurred in 2018 at 5.7%, and the largest increase was in 2019 at 32.2%.

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

From 2017 to 2020, Haiti, the United Kingdom, and the United States were the main destinations for Honduras's raw cane or beet sugar exports in kind. Together, they accounted for 55.7% of total exports, with Haiti representing 22.2%, the United Kingdom 19.1%, and the United States 14.4%.

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 recorded a second consecutive year of growth in the value of raw cane or beet sugar exports in solid form. In 2020, exports reached 51 752 thousand US dollars, up 2.9% from 2019. However, over the 2017-2020 period, export value decreased by 8.3%, averaging an annual decline of 2.9%. The lowest value was in 2018 at 44 913 thousand US dollars, which also saw the largest decline of 20.5%. The largest increase occurred in 2019 at 12.0%.

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

During 2017-2020, Haiti, the United States, and the United Kingdom remained the top markets for Honduras's raw cane or beet sugar exports in value terms, collectively accounting for 56.5% 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 raw cane or beet sugar in solid form to Honduras

Imports in kind, K t

The import market for raw cane or beet sugar in solid form showed an unstable trend from 2017 to 2020. In 2020, Honduras imported 0.0 thousand tons, a 52.4% decrease from the previous year. The lowest import volume was in 2017, while the highest was in 2019 at 0.1 thousand tons, resulting in a 5.3-fold difference between these years. The largest increase occurred in 2018 at 412.5%.

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

From 2017 to 2020, the United States and Nicaragua were the primary sources for Honduras's imports of raw cane or beet sugar in kind, jointly accounting for 96.3% of total import flows, with other partners making up the remainder.

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

Import values for raw cane or beet sugar in solid form displayed irregular changes, indicating a volatile market. In 2020, Honduras imported 68 thousand US dollars, down 32.5% from 2019. The lowest value was in 2017, and the highest was in 2019 at 101 thousand US dollars, showing a 5.9-fold variation. The largest increase was recorded in 2018 at 349.0%.

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

Between 2017 and 2020, imports of raw cane or beet sugar in solid form to Honduras were highly concentrated, with the United States accounting for 94.7% of total import value.

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

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