Dominican Republic: Banana Market 2024

Banana Market Size in the Dominican Republic

For the fourth year in a row, the Dominican banana market recorded growth in sales value, which increased by X% to $X in 2022. Over the period under review, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2015 indices. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Banana Production in the Dominican Republic

In value terms, banana production reached $X in 2022 estimated in export price. Overall, the total production indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of X%. Banana production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

The average yield of bananas in the Dominican Republic totaled X tons per ha in 2022, approximately reflecting 2021 figures. Over the period under review, the yield saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the yield increased by X%. As a result, the yield reached the peak level of X tons per ha. From 2014 to 2022, the growth of the average banana yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of bananas production in the Dominican Republic contracted slightly to X ha, waning by X% on the year before. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2014 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to banana production reached the maximum at X ha in 2021, and then dropped modestly in the following year.

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Banana Exports

Exports from the Dominican Republic

In 2022, overseas shipments of bananas decreased by X% to X tons, falling for the third year in a row after two years of growth. In general, exports recorded a perceptible decline. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, banana exports reached $X in 2022. Over the period under review, exports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for banana exports from the Dominican Republic, accounting for a approx. X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates totaled X%.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for bananas exports from the Dominican Republic.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates amounted to X%.

Export Prices by Country

In 2022, the average banana export price amounted to $X per ton, rising by X% against the previous year. Overall, the export price posted a buoyant increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the rate of growth in terms of prices for France amounted to X% per year.

Banana Imports

Imports into the Dominican Republic

Banana imports into the Dominican Republic soared to X kg in 2019, surging by X% against the previous year. Overall, imports, however, showed a precipitous decline. The pace of growth was the most pronounced in 2015 with an increase of X%. As a result, imports attained the peak of X tons. From 2016 to 2019, the growth of imports remained at a somewhat lower figure.

In value terms, banana imports shrank rapidly to $X in 2019. In general, imports, however, saw a dramatic decrease. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2019, the growth of imports failed to regain momentum.

Imports by Country

In 2019, Turks and Caicos Islands (X kg) constituted the largest banana supplier to the Dominican Republic, with a X% share of total imports. Moreover, banana imports from Turks and Caicos Islands exceeded the figures recorded by the second-largest supplier, Chile (X kg), twofold.

From 2012 to 2019, the average annual rate of growth in terms of volume from Turks and Caicos Islands was relatively modest.

In value terms, Chile ($X) constituted the largest supplier of bananas to the Dominican Republic, comprising X% of total imports. The second position in the ranking was held by Turks and Caicos Islands ($X), with a X% share of total imports.

From 2012 to 2019, the average annual growth rate of value from Chile was relatively modest.

Import Prices by Country

The average banana import price stood at $X per ton in 2019, shrinking by X% against the previous year. Overall, the import price, however, saw significant growth. The pace of growth was the most pronounced in 2018 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton, and then declined sharply in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2019, amid the top importers, the country with the highest price was Chile ($X per ton), while the price for Turks and Caicos Islands totaled $X per ton.

From 2012 to 2019, the most notable rate of growth in terms of prices was attained by China (X%).

Source: IndexBox Platform

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