Ginger Market in Honduras
Market Overview
In 
, the Honduran ginger market decreased by -% to $, falling for the third consecutive year after four years of growth. Overall, consumption saw a sharp slump. Ginger consumption peaked at $ in 2012; however, from 2013 to , consumption remained at a lower figure.
In value terms, ginger production declined modestly to $ in estimated in export price. Over the period under review, the total production indicated a mild increase from 2007 to : its value increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production increased by +% against indices. The pace of growth appeared the most rapid in 2008 with an increase of %. Ginger production peaked at $ in 2018; however, from 2019 to , production stood at a somewhat lower figure.
In, the average ginger yield in Honduras amounted to less than kg per ha, remaining relatively unchanged against figures. Over the period under review, the yield showed a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In, the ginger harvested area in Honduras was estimated at less than ha, standing approx. at the previous year. Over the period under review, the harvested area continues to indicate a relatively flat trend pattern.
, the Honduran ginger market decreased by -% to $, falling for the third consecutive year after four years of growth. Overall, consumption saw a sharp slump. Ginger consumption peaked at $ in 2012; however, from 2013 to , consumption remained at a lower figure.In value terms, ginger production declined modestly to $
in estimated in export price. Over the period under review, the total production indicated a mild increase from 2007 to : its value increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production increased by +% against indices. The pace of growth appeared the most rapid in 2008 with an increase of %. Ginger production peaked at $ in 2018; however, from 2019 to , production stood at a somewhat lower figure.In
, the average ginger yield in Honduras amounted to less than kg per ha, remaining relatively unchanged against figures. Over the period under review, the yield showed a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.In
, the ginger harvested area in Honduras was estimated at less than ha, standing approx. at the previous year. Over the period under review, the harvested area continues to indicate a relatively flat trend pattern.Consumption
In , consumption of ginger decreased by -% to tons, falling for the fifth year in a row after five years of growth. Overall, consumption recorded a sharp decline. Over the period under review, consumption hit record highs at tons in 2017; however, from 2018 to , consumption remained at a lower figure.
The size of the ginger market in Honduras fell markedly to $ in , shrinking 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, consumption showed a precipitous decrease. Over the period under review, the market hit record highs at $ in 2012; however, from 2013 to , consumption failed to regain momentum.
, consumption of ginger decreased by -% to tons, falling for the fifth year in a row after five years of growth. Overall, consumption recorded a sharp decline. Over the period under review, consumption hit record highs at tons in 2017; however, from 2018 to , consumption remained at a lower figure.The size of the ginger market in Honduras fell markedly to $
in , shrinking 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, consumption showed a precipitous decrease. Over the period under review, the market hit record highs at $ in 2012; however, from 2013 to , consumption failed to regain momentum.Market Forecast
Depressed by shrinking demand for ginger in Honduras, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to kg by the end of .
In value terms, the market is forecast to contract 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 .
% for the period from to , which is projected to depress the market volume to kg by the end of .In value terms, the market is forecast to contract 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
Driven by a growing demand, the share of imports in total supply in Honduras increased significantly over the last fifteen years (from % to %). Over the period under review, the share of imports in terms of total ginger consumption in Honduras was relatively small in physical terms, fluctuating under an % figure. In value terms the share of imports also stood at a low figure, which means that the Honduras ginger market is largely supplied by domestic manufacturers.
% to %). Over the period under review, the share of imports in terms of total ginger consumption in Honduras was relatively small in physical terms, fluctuating under an % figure. In value terms the share of imports also stood at a low figure, which means that the Honduras ginger market is largely supplied by domestic manufacturers.Trade Balance
Honduras remains a net exporter of ginger; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
. In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
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