Honduras: Bananas to generate $450 million in 2012

In 2012, the Honduran banana industry will break a new record.

The value of exports will reach approximately 450 million US dollars this year, the highest in the last decade, as indicated by preliminary statistics elaborated by the country's exporting firms. 

Foreign Trade Reports prepared by the Honduran Central Bank (BCH) reveal that the highest figure corresponds to last year, when 27 million 40 pound boxes were commercialised with a total value of 397.7 million US dollars.

Bananas were, until 1993, the product generating the most income for the country, replaced by coffee the next year after the European Union adopted a series of tariff measures and a quota system for all Latin American fruit.

The banana industry is being helped by an improvement in prices in the international market, which has encouraged exports. 

According to reports by the BCH, the 40 pounds box has seen a $1.22 increase, going from 15.16 to 16.38 dollars.

And regarding the volume of exports, from January to April 2012 10.6 million boxes have been shipped, higher than the 7.9 million sold in the same period last year.

According to an analysis bythe Central Bank published in April 2012, "banana exports reached a value of 173.4million dollars; 52.7 more than what was recorded in April 2011. This represents a33% increase, caused by better fertilisation and plague control, as well as an 8.1% rise in prices internationally, with the US being the main targetmarket."

Taking this tendency into account, exporters consider that the export volumes this year could range between 30 to 31 million boxes. Additionally, the revenue generated could amount to approximately 450 million dollars.

The US will continue to absorb 95% of all Honduran fruit exports, followed by the European Union, with 3% and Central America with 2%. However, exports to the US are expected to rise slightly.

The National Institute of Statistics (INE) says that banana crops are cultivated all over the country.

They also say that 9,688 holdings are devoted to this crop in a surface of 25,101 hectares.

Source: Elheraldo.hn

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