Market analysis provides essential information on prices, exports and imports to determine the attractiveness and dynamics of non-traditional agricultural commodities in the domestic and international markets.
Market Analysts and Marketing Officers attached to the Guyana Marketing Corporation collect, monitor, analyze and disseminate information for both fresh and processed commodities within the non-traditional agriculture sector.
This information includes price movements, export and import trends which is provided to policymakers and other relevant stakeholders such as exporters, agro-processors, farmers, service providers etc.
Here is an overview of how some of Guyana’s crops performed for the year 2015.
At the wholesale markets under review, the highest prices for most vegetables were recorded in the third quarter of 2015. Evidently, the vegetable that recorded the highest price increase from 2014, at most of the markets, was bora.
At Bourda market, bora increased by 85%, while at Stabroek market, the price was 135% higher than that recorded in 2014. Furthermore, at Parika Farm gate and Open gate, there were 30% and 95% increases, respectively. However, the most notable change in the price of bora occurred at Charity market, where the price of the commodity increased by 148% from 2014.
There were other notable changes in the prices of vegetables at the markets under review. There were increases in the prices of cabbage (21%) and squash (26%) at Bourda market while at Stabroek market, cabbage and pumpkin increased by 24% and squash increased by 27%.
Furthermore, there were significant increases in the prices of cabbage (24%) and pumpkin (27%) while tomatoes and carrots fell by 20% at Parika Open gate. The prices of vegetables at Parika Farm gate were more volatile, there were significant increases in the prices of boulanger (25%), cabbage (31%), cucumber (20%), pumpkin (32%) and corilla (24%) and declines in the prices of tomatoes (22%) and carrots (21%). At Charity market, the prices of cabbage, pumpkin and pak choi increased by 23%, 22% and 30% while the price of calaloo fell by 23%.
The average wholesale price of fruits at Bourda market has generally increased. The most outstanding increases were evident in the prices of grapefruit (20%), mango (38%) while there was a significant reduction of 20% in the price of avocado.
At Stabroek market, there were also some very significant increases. These increases were evident in the prices of tangerine (40%), grapefruit (32%), mango (44%), lemon (29%) and passion fruit (22%). Furthermore, there were significant declines in the prices of golden apple (31%) and avocado (22%).
There was also an upward trend evident in the prices of most fruits at Parika Opengate market. Notably, the prices of round lime and breadfruit increased by 22% and 20% respectively.
In addition, there were notable reductions in the prices of watermelon (27%) and grapefruit (26%). Fruit prices at Parika Farmgate market have also changed significantly.
There was a notable increase in the price of round lime (75%) while there were reductions in the prices of sour fig banana (34%), mamey (22%) and passion fruit (69%).
At Charity market, there were significant increases in the prices of tangerine (49%), watermelon (27%), grapefruit (64%), lemon (23%) and bilimbi (68%) while the price of round lime fell by 20%.
The average wholesale price of seasonings generally increased at Bourda market. The major price increases over the period 2014-2015 were for eschallot (32%), hot pepper (37%) and wiri wiri pepper (28%). There was also a 44% decrease in the price of ginger.
Generally, the prices of seasoning also increased at Stabroek market. Notably, there were increases in the prices of eschallot (25%), hot pepper (36%) and wiri wiri pepper (34%) while there was a reduction in the price of ginger (46%). There was a similar trend at Parika Open gate market, the prices of most of the seasonings increased.
The most significant increases were evident in the prices of eschallot (29%), hot pepper (34%) and wiri wiri pepper (38%). Additionally, there was a 42% reduction in the price of ginger.
At Parika Farmg ate market, there were increases in the prices of eschallot (27%), hot pepper (44%) and wiri wiri pepper (52%) while there was a reduction in the price of ginger (41%).
At Charity market, seasoning prices have also increased. This was led by hot pepper price which increased significantly by 33% and eschallot which increased by 26%. There was also a 45% decline in the price of ginger.
Root crop prices have remained relatively stable over the past year at most of the markets under review. However, there was a notable 22% increase in the price of cassava at Parika Farmgate market while there was a 22% decline at the same market. At Charity market, there was a 26% decline in the price of yam.
ANALYSIS OF EXPORTS
In 2015, Guyana’s exports of non-traditional agricultural commodities have totaled 10,999 MT valued at G$1.9 billion or US$ 9.5 million, which reflects a 21% decrease in exports from 2014.
In 2014, exports of non-traditional agricultural commodities totaled 13,922 MT.
Of the total exports, 415 MT or 4% was exported by air representing a 43% decrease from 2014. Additionally, 10,584 MT or 96% was exported by sea reflecting a 20% decrease from last year.
The major importing countries regionally were Trinidad and Tobago (785 MT), Suriname (489MT), Barbados (354MT), Dominica (150 MT) and Antigua (119MT).
The major importing countries extra-regionally were Dominican Republic (6,489MT), USA (1,448MT), France (775MT) and Canada (373 MT).