Dominican Republic: Market for Butter And Dairy Spreads 2024

Market Size for Butter And Dairy Spreads in the Dominican Republic

In 2022, after three years of growth, there was significant decline in the Dominican butter and dairy spreads market, when its value decreased by -22.5% to $X. Over the period under review, consumption, however, posted prominent growth. Over the period under review, the market hit record highs at $X in 2021, and then dropped remarkably in the following year.

Production of Butter And Dairy Spreads in the Dominican Republic

In value terms, butter and dairy spreads production dropped markedly to $X in 2022 estimated in export price. Overall, production, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2019 with an increase of 331,896,500%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Exports of Butter And Dairy Spreads

Exports from the Dominican Republic

In 2022, shipments abroad of butter and dairy spreads was finally on the rise to reach X tons after two years of decline. In general, exports showed buoyant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 2,017%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, butter and dairy spreads exports surged to $X in 2022. Over the period under review, exports enjoyed a significant increase. The growth pace was the most rapid in 2015 with an increase of 896%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for butter and dairy spreads exports from the Dominican Republic, with a 84% share of total exports. Moreover, butter and dairy spreads exports to the United States exceeded the volume sent to the second major destination, Germany (X tons), more than tenfold. The third position in this ranking was held by Russia (X tons), with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +47.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+23.0% per year) and Russia (+138.8% per year).

In value terms, the United States ($X) emerged as the key foreign market for butter and dairy spreads exports from the Dominican Republic, comprising 61% of total exports. The second position in the ranking was taken by Spain ($X), with an 11% share of total exports. It was followed by Poland, with a 9.6% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +49.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+21.4% per year) and Poland (+387.5% per year).

Export Prices by Country

In 2022, the average butter and dairy spreads export price amounted to $X per ton, declining by -33.1% against the previous year. In general, the export price, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2013 an increase of 201%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021, and then declined dramatically in the following year.

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 Poland ($X per ton), while the average price for exports to Russia ($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 Poland (+56.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Butter And Dairy Spreads

Imports into the Dominican Republic

In 2022, approx. X tons of butter and dairy spreads were imported into the Dominican Republic; dropping by -19.3% compared with the previous year's figure. Overall, imports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2014 with an increase of 155%. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, butter and dairy spreads imports rose sharply to $X in 2022. In general, imports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of 193% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

France (X tons), Germany (X tons) and Poland (X tons) were the main suppliers of butter and dairy spreads imports to the Dominican Republic, with a combined 81% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +79.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and Poland ($X) constituted the largest butter and dairy spreads suppliers to the Dominican Republic, together comprising 79% of total imports.

Poland, with a CAGR of +116.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average butter and dairy spreads import price stood at $X per ton in 2022, with an increase of 38% against the previous year. Over the period under review, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter and dairy spreads import price increased by +62.4% against 2020 indices. The most prominent rate of growth was recorded in 2018 an increase of 51% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see steady growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Spain ($X per ton) and the United States ($X per ton), while the price for Poland ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+20.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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