Dominican Republic: Monoammonium Phosphate Market 2024

Monoammonium Phosphate Market Size in the Dominican Republic

The Dominican monoammonium phosphate market expanded significantly to $X in 2022, surging by 8.6% against the previous year. Overall, the total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -8.1% against 2020 indices. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Monoammonium Phosphate Production in the Dominican Republic

In value terms, monoammonium phosphate production rose significantly to $X in 2022 estimated in export price. In general, the total production indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.7% 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 -6.8% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of 38%. Monoammonium phosphate production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Monoammonium Phosphate Exports

Exports from the Dominican Republic

In 2022, shipments abroad of monoammonium phosphate (MAP) decreased by -99.7% to X kg, falling for the fifth consecutive year after two years of growth. Overall, exports saw a dramatic curtailment. The pace of growth appeared the most rapid in 2016 when exports increased by 6,402% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, monoammonium phosphate exports dropped dramatically to $X in 2022. In general, exports continue to indicate a precipitous contraction. The most prominent rate of growth was recorded in 2016 with an increase of 4,507%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X kg) was the main destination for monoammonium phosphate exports from the Dominican Republic, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +12.9%.

In value terms, the United States ($X) emerged as the key foreign market for monoammonium phosphate (MAP) exports from the Dominican Republic.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +442.1%.

Export Prices by Country

In 2022, the average monoammonium phosphate export price amounted to $X per ton, rising by 515% against the previous year. Overall, the export price enjoyed a strong increase. As a result, the export price reached 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 States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +380.1% per year.

Monoammonium Phosphate Imports

Imports into the Dominican Republic

In 2022, purchases abroad of monoammonium phosphate (MAP) was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports posted a notable increase. The most prominent rate of growth was recorded in 2017 when imports increased by 91%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, monoammonium phosphate imports soared to $X in 2022. Over the period under review, imports showed a moderate increase. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest monoammonium phosphate supplier to the Dominican Republic, with a 83% share of total imports. Moreover, monoammonium phosphate imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), tenfold. The third position in this ranking was held by Russia (X tons), with a 5% share.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+32.6% per year) and Russia (+6.6% per year).

In value terms, the United States ($X) constituted the largest supplier of monoammonium phosphate (MAP) to the Dominican Republic, comprising 70% of total imports. The second position in the ranking was taken by China ($X), with an 18% share of total imports. It was followed by Russia, with a 7.1% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+46.1% per year) and Russia (+12.5% per year).

Import Prices by Country

In 2022, the average monoammonium phosphate import price amounted to $X per ton, jumping by 21% against the previous year. Over the period under review, the import price enjoyed notable growth. The pace of growth appeared the most rapid in 2021 an increase of 36% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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