Honduran coffee exports fall 18% in January as pandemic hits demand
- The Central American nation exported 590,481 60-kg bags in January, compared with 718,886 in the same month last year, according to preliminary data from IHCAFE.
TEGUCIGALPA: Honduran coffee exports fell 18% in January, data from the national coffee institute IHCAFE showed on Monday, as pandemic-related closures dented global demand for the commodity.
The Central American nation exported 590,481 60-kg bags in January, compared with 718,886 in the same month last year, according to preliminary data from IHCAFE.
"In January, demand problems persisted in the world market because of the continuing restrictions in several countries due to the spread of COVID-19," said Miguel Pon, the executive director of the Honduran Association of Coffee Exporters.
"There is also a lot of coffee in the market," he said.
IHCAFE authorities lowered the export forecast for the current 2020-2021 harvest to 5,606,871 60-kg bags, 10.7% lower than originally forecast, due to a drop in production following back-to-back hurricanes that hit Honduras late last year.
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