Dominican Republic: Tea Market 2024

Tea Market Size in the Dominican Republic

The Dominican tea market soared to $X in 2022, jumping by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated resilient 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 2019 indices. Over the period under review, the market reached the peak level in 2022 and is likely to continue growth in years to come.

Tea Exports

Exports from the Dominican Republic

In 2022, tea exports from the Dominican Republic declined notably to X tons, shrinking by X% against 2021. In general, exports, however, showed a buoyant increase. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of X tons, and then contracted rapidly in the following year.

In value terms, tea exports reduced markedly to $X in 2022. Overall, exports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Jamaica (X tons) was the main destination for tea exports from the Dominican Republic, accounting for a X% share of total exports. Moreover, tea exports to Jamaica exceeded the volume sent to the second major destination, the United States (X kg), twofold. France (X kg) ranked third in terms of total exports with a X% share.

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

In value terms, Jamaica ($X) remains the key foreign market for tea exports from the Dominican Republic, comprising X% of total exports. The second position in the ranking was taken by the United States ($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 Jamaica stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and France (X% per year).

Export Prices by Country

The average tea export price stood at $X per ton in 2022, falling by X% against the previous year. In general, the export price, however, continues to indicate a mild increase. 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 attained the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Jamaica ($X per ton), while the average price for exports to Panama ($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 France (X%), while the prices for the other major destinations experienced more modest paces of growth.

Tea Imports

Imports into the Dominican Republic

In 2022, overseas purchases of tea increased by X% to X tons, rising for the third year in a row after two years of decline. In general, imports enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2017 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, tea imports surged to $X in 2022. Over the period under review, total imports 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, imports decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest tea supplier to the Dominican Republic, with a X% share of total imports. Moreover, tea imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was held by Spain (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Spain (X% per year).

In value terms, the largest tea suppliers to the Dominican Republic were the United States ($X), Poland ($X) and Spain ($X), together comprising X% of total imports. France, China, Costa Rica, Colombia and Venezuela lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, France, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2022, the average tea import price amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the import price recorded a pronounced downturn. The growth pace was the most rapid in 2013 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Poland ($X per ton), while the price for Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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