Guatemala: Nuts Market 2024

Nuts Market Size in Guatemala

In 2022, the Guatemalan nuts market increased by X% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, continues to indicate a perceptible contraction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Nuts Production in Guatemala

In value terms, nuts production shrank to $X in 2022 estimated in export price. Overall, production saw a pronounced descent. The pace of growth appeared the most rapid in 2018 when the production volume increased by X%. Nuts production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

In 2022, the average nuts yield in Guatemala reached X tons per ha, remaining stable against the previous year. In general, the yield, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the average nuts yield reached the maximum level at X tons per ha in 2015; however, from 2016 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The nuts harvested area in Guatemala contracted modestly to X ha in 2022, flattening at the previous year. In general, the harvested area, however, recorded modest growth. The most prominent rate of growth was recorded in 2018 when the harvested area increased by X% against the previous year. The nuts harvested area peaked at X ha in 2021, and then reduced in the following year.

Nuts Exports

Exports from Guatemala

After three years of growth, shipments abroad of nuts decreased by X% to X tons in 2022. Over the period under review, exports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2021, and then fell rapidly in the following year.

In value terms, nuts exports contracted sharply to $X in 2022. Overall, exports, however, posted temperate growth. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for nuts exports from Guatemala, accounting for a X% share of total exports. Moreover, nuts exports to China exceeded the volume sent to the second major destination, the United States (X tons), fourfold. The third position in this ranking was held by the Netherlands (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and the Netherlands (X% per year).

In value terms, the United States ($X), China ($X) and the Netherlands ($X) appeared to be the largest markets for nuts exported from Guatemala worldwide, together comprising X% of total exports. Japan, France, Germany, El Salvador, Costa Rica, Hong Kong SAR and Vietnam lagged somewhat behind, together accounting for a further X%.

France, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average nuts export price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the export price, however, continues to indicate a pronounced setback. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to El Salvador (X%), while the prices for the other major destinations experienced more modest paces of growth.

Nuts Imports

Imports into Guatemala

In 2022, overseas purchases of nuts decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports faced a drastic downturn. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, nuts imports rose sharply to $X in 2022. Overall, imports recorded a perceptible decline. 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 reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of nuts to Guatemala, accounting for a X% share of total imports. Moreover, nuts imports from the United States exceeded the figures recorded by the second-largest supplier, Honduras (X tons), twofold. Chile (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Honduras (X% per year) and Chile (X% per year).

In value terms, the United States ($X) constituted the largest supplier of nuts to Guatemala, comprising X% of total imports. The second position in the ranking was taken by Honduras ($X), with a X% share of total imports. It was followed by Chile, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Honduras (X% per year) and Chile (X% per year).

Import Prices by Country

In 2022, the average nuts import price amounted to $X per ton, increasing by X% against the previous year. Overall, the import price recorded prominent growth. The most prominent rate of growth was recorded in 2016 an increase of X%. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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 ($X per ton), while the price for Nicaragua ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by El Salvador (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform