Sucrose in solid form market in Honduras

Earlier Report Observations

The market volume for chemically pure sucrose in solid form in Honduras contracted significantly from 380.2 thousand tons in 2018 to 309.5 thousand tons in 2020, driven by a combination of lower domestic production and rising export shipments. After reaching a low point, the market stabilized and began a gradual recovery, reaching 317.7 thousand tons by 2023.

Production fluctuated during this period, falling to 357.3 thousand tons in 2019 before partially rebounding, while exports more than doubled from 22.8 thousand tons in 2018 to 61.8 thousand tons in 2023. The sharp increase in exports, particularly in 2020 and 2023, absorbed a growing share of domestic output, limiting the volume available for the local market.

In 2024, Honduras remained a leading exporter of cane or beet sugar and solid sucrose to Mexico, with trade valued at US$ 15.6 million. This export activity is facilitated by the Central America-Mexico Free Trade Agreement, which establishes specific rules of origin for the product, governing preferential market access and influencing production and export strategies.

Production sucrose in solid form in Honduras

In kind, 2017-2020, K t

Top producers of sucrose in solid form, 2017-2020

World map of production of sucrose in solid form, 2017-2020

In 2020, Honduras produced 367.9 thousand tons of solid sucrose, marking a modest 3.0% increase from 2019. Production peaked in 2018 at 402.7 thousand tons, then fell to its lowest point in 2019 at 357.3 thousand tons, representing an 11.3% decline from the previous year. The largest increase occurred in 2018, with a 6.5% rise. Over the 2017-2020 period, production decreased by 2.7%, translating to an average annual decline of 0.9%.

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

In value, 2017-2020, M $ US

Honduras experienced a third consecutive year of decline in the value of solid sucrose production. In 2020, output was valued at 135.2 million US dollars, down 13.9% from the previous year. From 2017 to 2020, production value fell by 32.5%, equivalent to an average annual decrease of 12.3%.

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

Exports sucrose in solid form from Honduras

Exports in kind, t

Honduras saw a second consecutive year of growth in solid sucrose export volumes. In 2020, exports reached 58 502 tons, a sharp 53.1% increase from 2019. The lowest export volume was recorded in 2018 at 22 763 tons, which represented a 20.4% decline from the previous year. The largest increase occurred in 2019, with a 67.9% rise. Over the 2017-2020 period, exports grew by 104.7%, averaging an annual increase of 27.0%.

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

From 2017 to 2020, the United States, Jamaica, and Canada were the primary destinations for Honduras's solid sucrose exports by volume. The United States accounted for 49.1% of exports, Jamaica for 15.1%, and Canada for 14.6%. Together, these three countries represented 78.8% of total export flows.

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 solid sucrose exports. In 2020, exports reached 21 500 thousand US dollars, up 28.1% from the previous year. The lowest value was in 2018 at 10 175 thousand US dollars, marking a 32.8% decline from 2017. The largest increase occurred in 2019, with a 65.0% rise. Over the 2017-2020 period, export value increased by 41.9%, averaging an annual growth rate of 12.4%.

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

From 2017 to 2020, the United States, Jamaica, and Trinidad and Tobago were the main buyers of solid sucrose from Honduras by value. The United States accounted for 52.7% of export value, Jamaica for 15.0%, and Trinidad and Tobago for 10.7%. Collectively, these three countries made up 78.3% of total export value.

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

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

Imports sucrose in solid form to Honduras

Imports in kind, t

Honduras experienced a second consecutive year of decline in solid sucrose import volumes. In 2020, imports totaled 112 tons, down 25.1% from 2019. Imports peaked in 2018 at 226 tons, which was a 4.3% increase from the previous year. The largest decline occurred in 2019, with a 34.1% drop. Over the 2017-2020 period, imports decreased by 48.6%, equivalent to an average annual decline of 19.9%.

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

From 2017 to 2020, the United States and El Salvador dominated Honduras's solid sucrose imports by volume, together accounting for 95.2% of total flows. Other countries held the remaining share.

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 saw a second consecutive year of decline in the value of solid sucrose imports. In 2020, imports totaled 196 thousand US dollars, a sharp 25.5% decrease from the previous year. The highest value was recorded in 2018 at 328 thousand US dollars, representing a 6.8% increase from 2017. Over the 2017-2020 period, import value fell by 36.1%, averaging an annual decline of 13.9%.

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

From 2017 to 2020, the United States was the dominant source of solid sucrose imports to Honduras by value, accounting for 74.3% of total flows. Other countries each held significantly smaller shares.

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

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