Unmanufactured Tobacco Market in Honduras
Market Overview
The Honduran unmanufactured tobacco market reduced remarkably to $
in , waning 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). Overall, consumption recorded a noticeable shrinkage. As a result, consumption reached the peak level of $. From 2018 to , the growth of the market failed to regain momentum.
In value terms, unmanufactured tobacco production expanded remarkably to $ in estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by % against the previous year. Over the period under review, production reached the maximum level at $ in 2017; however, from 2018 to , production remained at a lower figure.
In, the average yield of tobacco (unmanufactured) in Honduras reduced modestly to tons per ha, standing approx. at the previous year's figure. The yield figure increased at an average annual rate of +% over the period from 2007 to ; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2010 when the yield increased by % against the previous year. Over the period under review, the average unmanufactured tobacco yield attained the maximum level at tons per ha in 2016; 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.
The unmanufactured tobacco harvested area in Honduras was estimated at ha in , almost unchanged from the year before. In general, the harvested area, however, recorded a slight decline. The most prominent rate of growth was recorded in 2017 when the harvested area increased by %. The unmanufactured tobacco harvested area peaked at ha in 2007; however, from 2008 to , the harvested area failed to regain momentum.
in , waning 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). Overall, consumption recorded a noticeable shrinkage. As a result, consumption reached the peak level of $. From 2018 to , the growth of the market failed to regain momentum.In value terms, unmanufactured tobacco production expanded remarkably to $
in estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by % against the previous year. Over the period under review, production reached the maximum level at $ in 2017; however, from 2018 to , production remained at a lower figure.In
, the average yield of tobacco (unmanufactured) in Honduras reduced modestly to tons per ha, standing approx. at the previous year's figure. The yield figure increased at an average annual rate of +% over the period from 2007 to ; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2010 when the yield increased by % against the previous year. Over the period under review, the average unmanufactured tobacco yield attained the maximum level at tons per ha in 2016; 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.The unmanufactured tobacco harvested area in Honduras was estimated at
ha in , almost unchanged from the year before. In general, the harvested area, however, recorded a slight decline. The most prominent rate of growth was recorded in 2017 when the harvested area increased by %. The unmanufactured tobacco harvested area peaked at ha in 2007; however, from 2008 to , the harvested area failed to regain momentum.Consumption
In , approx. tons of tobacco (unmanufactured) were consumed in Honduras; which is down by -% compared with figures. In general, consumption continues to indicate a noticeable shrinkage. As a result, consumption reached the peak volume of tons. From 2009 to , the growth of the consumption remained at a somewhat lower figure.
The revenue of the unmanufactured tobacco market in Honduras reduced remarkably to $ in , falling 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 recorded a noticeable decrease. As a result, consumption attained the peak level of $. From 2018 to , the growth of the market remained at a somewhat lower figure.
, approx. tons of tobacco (unmanufactured) were consumed in Honduras; which is down by -% compared with figures. In general, consumption continues to indicate a noticeable shrinkage. As a result, consumption reached the peak volume of tons. From 2009 to , the growth of the consumption remained at a somewhat lower figure.The revenue of the unmanufactured tobacco market in Honduras reduced remarkably to $
in , falling 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 recorded a noticeable decrease. As a result, consumption attained the peak level of $. From 2018 to , the growth of the market remained at a somewhat lower figure.Market Forecast
Depressed by shrinking demand for unmanufactured tobacco in Honduras, the market is expected to continue its downward consumption trend over the next eight-year period. 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 tons 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 tons 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 .Trade Balance
Honduras remains a net exporter of unmanufactured tobacco; 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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