Guatemala: Coconut Market 2024

Coconut Market Size in Guatemala

In 2022, the Guatemalan coconut market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. Overall, consumption, however, saw a perceptible reduction. Coconut consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Coconut Production in Guatemala

In value terms, coconut production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a perceptible reduction. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

The average yield of coconuts in Guatemala was estimated at X tons per ha in 2022, with an increase of X% against the previous year. Overall, the yield, however, continues to indicate a slight curtailment. The most prominent rate of growth was recorded in 2017 when the yield increased by X% against the previous year. Over the period under review, the average coconut yield attained the peak level at X tons per ha in 2015; however, from 2016 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The coconut harvested area in Guatemala reached X ha in 2022, rising by X% against the previous year. Over the period under review, the harvested area, however, saw a pronounced slump. The pace of growth appeared the most rapid in 2019 when the harvested area increased by X% against the previous year. Over the period under review, the harvested area dedicated to coconut production attained the maximum at X ha in 2013; however, from 2014 to 2022, the harvested area failed to regain momentum.

Coconut Exports

Exports from Guatemala

In 2022, coconut exports from Guatemala reduced dramatically to X tons, declining by X% on the previous year. Over the period under review, exports faced a abrupt curtailment. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, coconut exports fell significantly to $X in 2022. In general, exports saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

El Salvador (X tons) was the main destination for coconut exports from Guatemala, accounting for a X% share of total exports. Moreover, coconut exports to El Salvador exceeded the volume sent to the second major destination, Honduras (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to El Salvador amounted to X%.

In value terms, El Salvador ($X) remains the key foreign market for coconuts exports from Guatemala, comprising X% of total exports. The second position in the ranking was held by Honduras ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to El Salvador totaled X%.

Export Prices by Country

In 2022, the average coconut export price amounted to $X per ton, shrinking by X% against the previous year. In general, the export price, however, saw a pronounced expansion. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Honduras ($X per ton), while the average price for exports to El Salvador stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to El Salvador (X%).

Coconut Imports

Imports into Guatemala

In 2022, coconut imports into Guatemala surged to X tons, picking up by X% on the previous year's figure. Over the period under review, imports posted significant growth. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, coconut imports skyrocketed to $X in 2022. Overall, imports enjoyed significant growth. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the Philippines (X tons) constituted the largest coconut supplier to Guatemala, with a X% share of total imports. Moreover, coconut imports from the Philippines exceeded the figures recorded by the second-largest supplier, El Salvador (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from the Philippines amounted to X.9%. The remaining supplying countries recorded the following average annual rates of imports growth: El Salvador (X% per year) and the United States (X% per year).

In value terms, the largest coconut suppliers to Guatemala were the Philippines ($X), El Salvador ($X) and the United States ($X).

The Philippines, with a CAGR of X.2%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average coconut import price amounted to $X per ton, leveling off at the previous year. In general, the import price continues to indicate a noticeable decline. The growth pace was the most rapid in 2017 when the average import price increased by X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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