Dominican Republic - Tea - Market Analysis, Forecast, Size, Trends and Insights
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View PricingTea Price in the Dominican Republic - 2023
Contents:
- Tea Price in the Dominican Republic (CIF) - 2023
- Tea Price in the Dominican Republic (FOB) - 2022
- Tea Imports in the Dominican Republic
- Tea Exports in the Dominican Republic
Tea Price in the Dominican Republic (CIF) - 2023
In March 2023, the average tea import price amounted to $10,693 per ton, growing by 118% against the previous month. Over the period under review, the import price showed a resilient increase. The pace of growth was the most pronounced in December 2022 when the average import price increased by 200% m-o-m. Over the period under review, average import prices hit record highs at $11,230 per ton in June 2022; however, from July 2022 to March 2023, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was France ($53,000 per ton), while the price for China ($1,166 per ton) was amongst the lowest.
From March 2022 to March 2023, the most notable rate of growth in terms of prices was attained by France (+26.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Tea Price in the Dominican Republic (FOB) - 2022
In 2022, the average tea export price amounted to $6,195 per ton, falling by -3.7% against the previous year. Over the period under review, the export price, however, showed mild growth. The growth pace was the most rapid in 2016 when the average export price increased by 33% against the previous year. The export price peaked at $10,021 per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($7,509 per ton), while the average price for exports to Bahamas ($1,549 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.
Tea Imports in the Dominican Republic
For the fourth consecutive year, the Dominican Republic recorded growth in supplies from abroad of tea, which increased by 28% to 305 tons in 2022. In general, imports posted significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 34% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.
In value terms, tea imports surged to $1.3M in 2022. The total import value increased at an average annual rate of +5.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 33%. As a result, imports attained the peak of $1.5M. From 2021 to 2022, the growth of imports remained at a lower figure.
| Import of Tea in the Dominican Republic (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 371 | 524 | 327 | 406 | 3.1% |
| Poland | 288 | 304 | 104 | 243 | -5.5% |
| Spain | 121 | 319 | 319 | 240 | 25.6% |
| China | 38.0 | 45.6 | 69.5 | 77.9 | 27.0% |
| France | 8.0 | 31.1 | 73.5 | 73.8 | 109.7% |
| Costa Rica | 43.9 | 22.5 | 17.2 | 15.4 | -29.5% |
| Venezuela | 0.3 | 1.5 | 2.6 | 4.8 | 152.0% |
| Others | 225 | 208 | 207 | 226 | 0.1% |
| Total | 1,094 | 1,455 | 1,120 | 1,288 | 5.6% |
Top Suppliers of Tea to the Dominican Republic in 2022:
- United States (156.6 tons)
- China (66.6 tons)
- Spain (24.1 tons)
- France (15.8 tons)
- Poland (10.0 tons)
- Venezuela (9.5 tons)
- Costa Rica (6.4 tons)
Tea Exports in the Dominican Republic
Tea exports from the Dominican Republic fell notably to 3.5 tons in 2022, shrinking by -43.5% on 2021 figures. Over the period under review, exports showed a abrupt curtailment. The pace of growth appeared the most rapid in 2021 when exports increased by 673% against the previous year. As a result, the exports reached the peak of 6.2 tons, and then declined dramatically in the following year.
In value terms, tea exports declined significantly to $22K in 2022. Overall, exports faced a significant contraction. The growth pace was the most rapid in 2021 with an increase of 880% against the previous year.
| Export of Tea in the Dominican Republic (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 35.5 | 0.6 | 28.7 | 14.5 | -25.8% |
| Jamaica | 1.1 | 0.3 | 4.3 | 2.6 | 33.2% |
| France | 2.5 | 0.7 | 3.4 | 1.9 | -8.7% |
| Canada | 0.6 | 0.2 | 1.0 | 0.3 | -20.6% |
| Panama | N/A | N/A | N/A | 0.3 | 0% |
| Bahamas | 3.2 | 0.8 | 1.6 | 0.3 | -54.6% |
| Others | 5.0 | 1.5 | 1.0 | 1.9 | -27.6% |
| Total | 47.9 | 4.1 | 39.9 | 21.7 | -23.2% |
Top Export Markets for Tea from the Dominican Republic in 2022:
- United States (1926.0 kg)
- France (735.0 kg)
- Jamaica (396.0 kg)
- Bahamas (184.0 kg)
- Panama (131.0 kg)
- Canada (56.0 kg)
This report provides an in-depth analysis of the tea market in the Dominican Republic. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 667 - Tea
Country coverage:
- Dominican Republic
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the Dominican Republic
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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This report provides an in-depth analysis of the tea market in the Dominican Republic.
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This report provides an in-depth analysis of the global tea market.
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This report provides an in-depth analysis of the tea market in the Dominican Republic.
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This report provides an in-depth analysis of the global tea market.
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