Honduras to Win US$400 Million Foreign Exchange Gain from Banana Export

2011-11-25

In Honduras, banana is a prime agricultural product and is exported to the United States, Europe and even functions as the staple food for the Honduras people. Over the past three years, Honduras has gained rising foreign exchange through banana export, say, earning US$327 million in 2009, US$335 million in 2010 and is believed to earn US$400 million in 2011—the all time high of banana export for Honduras. The all time high also results from the all time high banana price in the international community. In January~September 2010, for instance, banana price rose from US$12.56 to US$15.02 per 40 pounds. To date, the United States is still the top export target of Honduras banana.