Honduran banana production could move to Guatemala and Nicaragua

The president of the Coalition of Honduran Banana and Agroindustrial Unions, Germán Zepeda, warned that the production of Honduran bananas, the country's second most exported product, could move in part to Guatemala and Nicaragua due to the tax incentives being offered by both of these countries.

"The tax incentives Nicaragua is offering, for example, are not only attracting the assembly industry, but also agricultural internationals," stressed Zepeda.

He added that southern Guatemala, where banana production is increasing the most, "also offers great advantages" over growing the fruit in Honduras.

The lack of tax incentives is said to ensure a downward trend in production during the next five years, according to Zepeda. 

The production of bananas has remained stable during the last two seasons because of the absence of natural disasters, like hurricanes, "but it is clear that there was no growth either," he stated.

Bananas generate around 400 million dollars annually and are Honduras' second most exported product, only behind coffee, which in 2012 brought in approximately 1,500 million dollars in revenue.


Source: EFE

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