Price for Cereal Flour; of Maize (Corn) in the Dominican Republic - 2023

Price for Cereal Flour; of Maize (Corn) in the Dominican Republic (FOB) - 2023

The average export price for cereal flour; of maize (corn) stood at $615 per ton in March 2023, reducing by -5.1% against the previous month. Over the period from March 2022 to March 2023, it increased at an average monthly rate of +1.4%. The pace of growth was the most pronounced in September 2022 when the average export price increased by 7.9% against the previous month. As a result, the export price attained the peak level of $666 per ton. From October 2022 to March 2023, the the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Haiti.

From March 2022 to March 2023, the rate of growth in terms of prices for Haiti amounted to +1.4% per month.

Price for Cereal Flour; of Maize (Corn) in the Dominican Republic (CIF) - 2023

In March 2023, the average import price for cereal flour; of maize (corn) amounted to $1,464 per ton, picking up by 16% against the previous month. Over the period from March 2022 to March 2023, it increased at an average monthly rate of +2.3%. Over the period under review, average import prices attained the maximum at $1,536 per ton in December 2022; afterwards, it flattened through to March 2023.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From March 2022 to March 2023, the rate of growth in terms of prices for the United States amounted to +2.2% per month.

Exports of Cereal Flour; of Maize (Corn) in the Dominican Republic

In 2022, the amount of cereal flour; of maize (corn) exported from the Dominican Republic rose markedly to 21K tons, with an increase of 8.7% against the previous year. The total export volume increased at an average annual rate of +2.1% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 13%. As a result, the exports attained the peak of 22K tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, cereal flour; of maize (corn) exports surged to $12M in 2022. In general, total exports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +15.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +52.9% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Export of Cereal Flour; of Maize (Corn) in the Dominican Republic (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Haiti	7.9	8.8	8.8	12.3	15.9%
Others	0.2	N/A	0.1	0.1	-20.6%
Total	8.1	8.8	8.8	12.4	15.3%

Top Export Markets for Cereal Flour; of Maize (Corn) from the Dominican Republic in 2022:

Haiti (20.8K tons)

Imports of Cereal Flour; of Maize (Corn) in the Dominican Republic

In 2022, approx. 2.3K tons of cereal flour; of maize (corn) were imported into the Dominican Republic; picking up by 20% against the previous year. Over the period under review, imports showed a relatively flat trend pattern.

In value terms, cereal flour; of maize (corn) imports skyrocketed to $3.1M in 2022. The total import value increased at an average annual rate of +7.4% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.