Cuba: Manuka Market 2024

Manuka Market Size in Cuba

After two years of decline, the Cuban manuka market increased by 49% to $X in 2021. Overall, consumption recorded a significant increase. Manuka consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Manuka Production in Cuba

In value terms, manuka production skyrocketed to $X in 2021 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 59%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Manuka Exports

Exports from Cuba

In 2021, manuka exports from Cuba expanded markedly to X tons, with an increase of 6.7% against 2020 figures. Overall, total exports indicated a mild expansion from 2012 to 2021: its volume increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +103.0% against 2018 indices. The pace of growth appeared the most rapid in 2019 when exports increased by 57%. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, manuka exports skyrocketed to $X in 2021. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 51% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for manuka exports from Cuba, with a 53% share of total exports. Moreover, manuka exports to Germany exceeded the volume sent to the second major destination, Portugal (X tons), threefold. The third position in this ranking was held by Spain (X tons), with a 15% share.

From 2012 to 2021, the average annual growth rate of volume to Germany totaled -1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+27.0% per year) and Spain (+38.5% per year).

In value terms, Germany ($X) remains the key foreign market for manuka exports from Cuba, comprising 55% of total exports. The second position in the ranking was taken by Spain ($X), with a 16% share of total exports. It was followed by Portugal, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany totaled -3.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+36.2% per year) and Portugal (+27.5% per year).

Export Prices by Country

In 2021, the average manuka export price amounted to $X per ton, picking up by 21% against the previous year. In general, the export price, however, continues to indicate a mild curtailment. Over the period under review, the average export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2021, the highest price was recorded for prices to Austria ($X per ton) and Switzerland ($X per ton), while the average price for exports to Portugal ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+2.7%), while the prices for the other major destinations experienced mixed trend patterns.

Manuka Imports

Imports into Cuba

In 2021, overseas purchases of manuka decreased by -16.5% to X kg, falling for the fourth consecutive year after two years of growth. Over the period under review, imports faced a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when imports increased by 195%. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, manuka imports contracted to $X in 2021. In general, imports recorded a abrupt curtailment. The pace of growth was the most pronounced in 2016 with an increase of 274% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Canada (X kg) constituted the largest manuka supplier to Cuba, with a 81% share of total imports. Moreover, manuka imports from Canada exceeded the figures recorded by the second-largest supplier, Switzerland (X kg), fivefold.

From 2012 to 2021, the average annual growth rate of volume from Canada totaled +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (-25.0% per year) and Spain (-40.9% per year).

In value terms, Canada ($X) constituted the largest supplier of manuka to Cuba, comprising 70% of total imports. The second position in the ranking was held by Switzerland ($X), with a 27% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Canada stood at +14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (-21.1% per year) and Spain (-38.7% per year).

Import Prices by Country

In 2021, the average manuka import price amounted to $X per ton, picking up by 6.8% against the previous year. Over the last nine years, it increased at an average annual rate of +2.8%. The most prominent rate of growth was recorded in 2016 when the average import price increased by 27% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Switzerland ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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