Updated Jan 22, 2023 05:51

Market for Anise, Badian, Fennel And Coriander in Guatemala

Market Overview
The Guatemalan market for anise, badian, fennel and coriander reached $ in , surging by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a moderate increase from 2007 to : its value increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption decreased by -% against indices. As a result, consumption attained the peak level of $. From to , the growth of the market remained at a somewhat lower figure.

In value terms, anise, badian, fennel and coriander production skyrocketed to $ in estimated in export price. In general, production saw significant growth. The pace of growth appeared the most rapid in when the production volume increased by %. As a result, production reached the peak level of $. From to , production growth remained at a somewhat lower figure.

In , the average anise, badian, fennel and coriander yield in Guatemala reached tons per ha, approximately mirroring figures. The yield figure increased at an average annual rate of +% from 2007 to ; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of % against the previous year. The anise, badian, fennel and coriander yield peaked at tons per ha in ; afterwards, it flattened through to . Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In , the total area harvested in terms of anise, badian, fennel and coriander production in Guatemala reduced to ha, remaining relatively unchanged against the year before. Over the period under review, the harvested area continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of %. Over the period under review, the harvested area dedicated to anise, badian, fennel and coriander production attained the maximum at ha in 2013; however, from 2014 to , the harvested area remained at a lower figure.


Consumption
In , consumption of anise, badian, fennel and coriander decreased by -% to tons for the first time since 2019, thus ending a two-year rising trend. In general, consumption, however, showed a relatively flat trend pattern. Anise, badian, fennel and coriander consumption peaked at tons in , and then declined modestly in the following year.

The size of the market for anise, badian, fennel and coriander in Guatemala expanded remarkably to $ in , rising by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated tangible growth from 2007 to : its value increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption decreased by -% against indices. As a result, consumption reached the peak level of $. From to , the growth of the market failed to regain momentum.


Market Forecast
Driven by increasing demand for anise, badian, fennel and coriander in Guatemala, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports remained relatively constant over the period under review. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Guatemala remains a net importer of anise, badian, fennel and coriander; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.