Originally signed in November 2013, the Canada-Honduras Free Trade Agreement entered into force Oct. 1. USMEF provided more details on the terms of this agreement in the Nov. 22, 2013, Export Newsline.
Honduran imports of Canadian pork peaked in 2004-2005, when Canada captured nearly one-third of the imported pork market. But imports from Canada plunged more than 80 percent in 2006, the same year Honduras implemented the U.S.-Dominican Republic-Central America Free Trade Agreement (CAFTA-DR). By 2013, U.S. share of the Honduran imported pork market climbed to nearly 99 percent in volume and more than 96 percent in value.
While Honduran import data is only available through April 2014, Canadian pork/pork variety meat exports to Honduras (though July) totaled 704 metric tons (mt), up from zero last year. U.S. exports to Honduras (also through July) were down 21 percent from a year ago to 9,999 mt, with value slipping 11 percent to $21.6 million. Despite these lower totals, Honduras is the 12th largest destination for U.S. pork/pork variety meat exports in both volume and value.