Guatemala: Sisal Binder Market 2024

Sisal Binder Market Size in Guatemala

The Guatemalan sisal binder market expanded significantly to $X in 2022, increasing by 9.2% against the previous year. Over the period under review, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -8.3% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Sisal Binder Production in Guatemala

In value terms, sisal binder production expanded remarkably to $X in 2022 estimated in export price. Overall, the total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -7.5% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 50%. Sisal binder production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Sisal Binder Exports

Exports from Guatemala

In 2022, exports of sisal binder or baler (agricultural) twines from Guatemala surged to X kg, jumping by 301% compared with the previous year. In general, exports continue to indicate a significant increase. The growth pace was the most rapid in 2020 when exports increased by 828%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, sisal binder exports skyrocketed to $X in 2022. Overall, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 731% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Honduras (X kg) was the main destination for sisal binder exports from Guatemala, with a approx. 100% share of total exports.

From 2013 to 2022, the average annual growth rate of volume to Honduras totaled +21.2%.

In value terms, Honduras ($X) also remains the key foreign market for sisal binder or baler (agricultural) twines exports from Guatemala.

From 2013 to 2022, the average annual rate of growth in terms of value to Honduras totaled +25.9%.

Export Prices by Country

In 2022, the average sisal binder export price amounted to $X per ton, waning by -33.5% against the previous year. In general, the export price, however, showed strong growth. The growth pace was the most rapid in 2019 when the average export price increased by 80% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Honduras.

From 2013 to 2022, the rate of growth in terms of prices for Honduras amounted to +3.9% per year.

Sisal Binder Imports

Imports into Guatemala

In 2022, after two years of decline, there was significant growth in purchases abroad of sisal binder or baler (agricultural) twines, when their volume increased by 32% to X tons. Over the period under review, imports, however, recorded a slight reduction. The pace of growth was the most pronounced in 2015 with an increase of 1,250%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, sisal binder imports dropped dramatically to $X in 2022. In general, imports saw a moderate expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 778% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, El Salvador (X tons) constituted the largest supplier of sisal binder to Guatemala, with a 87% share of total imports. Moreover, sisal binder imports from El Salvador exceeded the figures recorded by the second-largest supplier, the United States (X kg), more than tenfold. The third position in this ranking was held by Spain (X kg), with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from El Salvador was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-1.5% per year) and Spain (+1.1% per year).

In value terms, El Salvador ($X) constituted the largest supplier of sisal binder or baler (agricultural) twines to Guatemala, comprising 44% of total imports. The second position in the ranking was taken by Spain ($X), with a 17% share of total imports. It was followed by the United States, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from El Salvador totaled +14.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+1.6% per year) and the United States (-6.9% per year).

Import Prices by Country

In 2022, the average sisal binder import price amounted to $X per ton, declining by -53.5% against the previous year. Overall, the import price, however, showed a tangible increase. The most prominent rate of growth was recorded in 2013 an increase of 530% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained 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 Spain ($X per ton), while the price for El Salvador ($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 (+15.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform