MARKET DEVELOPMENT
Honduran Exports of Palm Oil to Grow in 2013
Honduran Exports of Palm Oil to Grow in 2013
09/07/2013 (Prensa Latina) - Honduran sales of palm oil in the international market will reach $ 400 million USD this year, according to estimates by sector authorities, local media reported today.
According to Hector Castro, president of the Palm Farmers Association in Honduras, the annual growth of this production varies between 11 and 18 per cent.
In 2012, exports of palm oil yielded profits of about $30.2 million USD, the newspaper La Tribuna said.
Northern departments of Atlantida, Colon, Cortes and Yoro have the bulk of the palm oil production, which has grown in areas formerly cultivated with bananas and grains.
According to Castro, the country is able to double the palm oil planting, which currently covers about 165,000 hectares.
One of the attractive markets for Honduran oil is Venezuela, to which they may pay part the fuel supply with this product through the Petrocaribe initiative, he said.
Castro added Honduras might open new markets for the product in China and India.
According to Hector Castro, president of the Palm Farmers Association in Honduras, the annual growth of this production varies between 11 and 18 per cent.
In 2012, exports of palm oil yielded profits of about $30.2 million USD, the newspaper La Tribuna said.
Northern departments of Atlantida, Colon, Cortes and Yoro have the bulk of the palm oil production, which has grown in areas formerly cultivated with bananas and grains.
According to Castro, the country is able to double the palm oil planting, which currently covers about 165,000 hectares.
One of the attractive markets for Honduran oil is Venezuela, to which they may pay part the fuel supply with this product through the Petrocaribe initiative, he said.
Castro added Honduras might open new markets for the product in China and India.