Honduran banana exports bounce back as Ecuador struggles
The Central Bank of Honduras (BCH) reported that banana exports almost doubled to US$293.4 million during the first semester of 2022. This comes as most areas affected by hurricane Eta and Iota in 2020 start to slowly recover.
The $158 million year-on-year increase is attributed in part to a decrease in Ecuador’s production. Currently the world’s biggest banana exporter, cold temperatures hindered harvests in the competitor country during the first months of the year.
The entity stated that total volume for exports reached 6,174,500 million 40-pound boxes. This represents 113.3 million dollars in revenue.
However, the average international price increased by 18%, with each box quoted at $21.67. Although this was a higher price compared to the $18.33 paid in 2021, international sales of bananas in the first half of this year did not exceed 294.7 million dollars.
Path to recovery
Whereas banana exports for the Central American country are bouncing back, production is yet to reach the figures achieved before the hurricanes Eta and Iota.
This is hardly the first time Honduras had to face these difficulties. In late 1998, hurricane Mitch caused a similar extent of damages to the planting surfaces. Presently, agriculture and particularly the banana business is said to be critical for the nation’s economy. The fruit represents the second most lucrative industry, behind coffee production.