During November, ETA & IOTA Hurricanes hit Central America (Nicaragua, Honduras, Guatemala and el Salvador). In Guatemala, the biggest impact was in the North Region, including Alta Verapaz, Izabal, Quiche and Huehuetenango, states, which are the most important regions of Cardamom in Guatemala.
These hurricanes caused floods, landslides, road damages, infrastructure damages in the rural and urban areas, Cardamom, Coffee, Corn, Beans and other crops plantations suffered serious damages; cardamom prices behavior for the rest of the season are difficult to determine. The first estimations done in August 2020 at the beginning of 2020-2021 Crop, had shown around 10%-20% more production in comparison with 2019-2020 crop. However, based on the preliminary reports after ETA & IOTA hurricanes, the total volume of 2020-2021 crop could be the same as 2019-2020 crop.
During the upcoming weeks it will be possible to have more data, because up to today there are still roads damaged without access due to landslides, there are still areas under water, and some rivers until now have started to return to their normal levels.
We are on the peak of the harvest season, which is about to end, however, prices have remain firm at high levels.
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