Dominican Republic: Butter Market Overview 2021

Butter Market Size in the Dominican Republic

The Dominican butter market expanded modestly to $X in 2019, increasing by X% against the previous year. In general, consumption, however, continues to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2014 with an increase of X% year-to-year. Butter consumption peaked at $X in 2016; however, from 2017 to 2019, consumption remained at a lower figure.

Butter Production in the Dominican Republic

In value terms, butter production rose sharply to $X in 2019 estimated in export prices. Overall, production showed a remarkable increase. The pace of growth was the most pronounced in 2014 with an increase of X% y-o-y. Butter production peaked at $X in 2016; however, from 2017 to 2019, production stood at a somewhat lower figure.

Butter Exports

Exports from the Dominican Republic

In 2019, shipments abroad of butter increased by X% to X tonnes, rising for the second consecutive year after six years of decline. In general, exports, however, continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2011 when exports increased by X% year-to-year. As a result, exports reached the peak of X tonnes. From 2012 to 2019, the growth exports remained at a somewhat lower figure.

In value terms, butter exports expanded markedly to $X in 2019. Over the period under review, exports, however, showed a deep reduction. The pace of growth appeared the most rapid in 2011 when exports increased by X% year-to-year. As a result, exports attained the peak of $X. From 2012 to 2019, the growth exports remained at a somewhat lower figure.

Exports by Country

The Netherlands (X tonnes) was the main destination for butter exports from the Dominican Republic, with a approx. X% share of total exports.

From 2007 to 2019, the average annual rate of growth in terms of volume to the Netherlands totaled +X%.

In value terms, the Netherlands ($X) also remains the key foreign market for butter exports from the Dominican Republic.

From 2007 to 2019, the average annual rate of growth in terms of value to the Netherlands amounted to +X%.

Export Prices by Country

The average butter export price stood at $X per tonne in 2019, increasing by X% against the previous year. Overall, the export price showed a resilient expansion. The pace of growth appeared the most rapid in 2014 when the average export price increased by X% year-to-year. As a result, export price attained the peak level of $X per tonne. From 2015 to 2019, the growth in terms of the average export prices failed to regain the momentum.

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

From 2007 to 2019, the rate of growth in terms of prices for the Netherlands amounted to +X% per year.

Butter Imports

Imports into the Dominican Republic

In 2019, approx. X tonnes of butter were imported into the Dominican Republic; falling by -X% against 2018 figures. Overall, imports, however, continue to indicate slight growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, imports attained the peak of X tonnes. From 2017 to 2019, the growth imports remained at a lower figure.

In value terms, butter imports fell to $X in 2019. Over the period under review, imports, however, posted a strong increase. The pace of growth was the most pronounced in 2018 with an increase of X% y-o-y. Imports peaked at $X in 2016; however, from 2017 to 2019, imports remained at a lower figure.

Imports by Country

Honduras (X tonnes), France (X tonnes) and Denmark (X tonnes) were the main suppliers of butter imports to the Dominican Republic, with a combined X% share of total imports. These countries were followed by the U.S., Belgium and Spain, which together accounted for a further X 2007 to 2019, the biggest increases were in the U.S., while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest butter suppliers to the Dominican Republic were Honduras ($X), France ($X) and Denmark ($X), together comprising X% of total imports. These countries were followed by the U.S., Belgium and Spain, which together accounted for a further X the main suppliers, the U.S. saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average butter import price stood at $X per tonne in 2019, growing by X% against the previous year. Overall, the import price saw a prominent increase. The pace of growth appeared the most rapid in 2017 when the average import price increased by X% y-o-y. Over the period under review, average import prices reached the maximum in 2019 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2019, the highest prices were recorded for prices from Spain ($X per tonne) and the U.S. ($X per tonne), while the price for Honduras ($X per tonne) and France ($X per tonne) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Belgium, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for butter in the world?

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The countries with the highest volumes of butter consumption in 2019 were the U.S. (984K tonnes), France (520K tonnes) and Germany (446K tonnes), with a combined 35% share of global consumption. Russia, Turkey, New Zealand, the UK, China, Iran, Poland, Australia, Brazil and Italy lagged somewhat behind, together accounting for a further 33%.

What are the largest producers of butter in the world?

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The countries with the highest volumes of butter production in 2019 were the U.S. (965K tonnes), New Zealand (514K tonnes) and Germany (438K tonnes), together accounting for 34% of global production. These countries were followed by France, Ireland, Turkey, Russia, Poland, the UK, the Netherlands, Belarus, Iran and Ukraine, which together accounted for a further 36%.

What are the leading suppliers of butter to the Dominican Republic?

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In value terms, the largest butter suppliers to the Dominican Republic were Honduras ($856K), France ($507K) and Denmark ($472K), together accounting for 77% of total imports. These countries were followed by the U.S., Belgium and Spain, which together accounted for a further 22%.

What are the leading importers of butter from the Dominican Republic?

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In value terms, the Netherlands ($330K) remains the key foreign market for butter exports from the Dominican Republic.

What is the average export price for butter in the Dominican Republic?

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In 2019, the average butter export price amounted to $5,769 per tonne, rising by 3.1% against the previous year.

What is the average import price for butter in the Dominican Republic?

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In 2019, the average butter import price amounted to $6,220 per tonne, with an increase of 7.5% against the previous year.