Dominican Republic: Oil Crops Market 2024

Oil Crops Market Size in the Dominican Republic

After six years of growth, the Dominican oil crops market decreased by X% to $X in 2022. In general, consumption, however, posted a prominent increase. Oil crops consumption peaked at $X in 2021, and then dropped notably in the following year.

Oil Crops Production in the Dominican Republic

In value terms, oil crops production stood at $X in 2022 estimated in export price. Overall, production, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

In 2022, the average yield of oil crops (primary) in the Dominican Republic contracted modestly to X tons per ha, flattening at 2021 figures. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the yield increased by X% against the previous year. Over the period under review, the average oil crops yield attained the peak level at X tons per ha in 2021, and then fell modestly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of oil crops (primary) were harvested in the Dominican Republic; therefore, remained relatively stable against the year before. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the harvested area increased by X% against the previous year. The oil crops harvested area peaked at X ha in 2019; however, from 2020 to 2022, the harvested area failed to regain momentum.

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Oil Crops Exports

Exports from the Dominican Republic

Oil crops exports from the Dominican Republic shrank dramatically to X tons in 2022, dropping by X% against the year before. In general, exports showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, oil crops exports reduced rapidly to $X in 2022. Overall, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons), British Virgin Islands (X tons) and France (X tons) were the main destinations of oil crops exports from the Dominican Republic, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for oil crops (primary) exports from the Dominican Republic, comprising X% of total exports. The second position in the ranking was taken by British Virgin Islands ($X), with a X% share of total exports. It was followed by France, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: British Virgin Islands (X% per year) and France (X% per year).

Export Prices by Country

The average oil crops export price stood at $X per ton in 2022, which is down by X% against the previous year. In general, the export price showed a pronounced downturn. The pace of growth was the most pronounced in 2016 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Haiti ($X per ton), while the average price for exports to Switzerland ($X 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 Belgium (X%), while the prices for the other major destinations experienced more modest paces of growth.

Oil Crops Imports

Imports into the Dominican Republic

In 2022, imports of oil crops (primary) into the Dominican Republic reached X tons, rising by X% against the previous year's figure. Over the period under review, imports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, oil crops imports soared to $X in 2022. In general, imports recorded a resilient increase. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

The United States (X tons) and Guyana (X tons) were the main suppliers of oil crops imports to the Dominican Republic.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of X%).

In value terms, the largest oil crops suppliers to the Dominican Republic were the United States ($X) and Guyana ($X).

The United States, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review.

Import Prices by Country

The average oil crops import price stood at $X per ton in 2022, jumping by X% against the previous year. In general, the import price, however, showed a perceptible contraction. The growth pace was the most rapid in 2017 an increase of X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Guyana totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guyana (X%).

Source: IndexBox Platform

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