Dominican Republic: Coconut Market 2024

Coconut Market Size in the Dominican Republic

The Dominican coconut market expanded modestly to $X in 2022, with an increase of 2.4% against the previous year. Overall, consumption, however, showed buoyant growth. Coconut consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Coconut Production in the Dominican Republic

In value terms, coconut production totaled $X in 2022 estimated in export price. In general, production, however, continues to indicate a strong increase. The growth pace was the most rapid in 2016 when the production volume increased by 78%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

In 2022, the average coconut yield in the Dominican Republic dropped to X tons per ha, stabilizing at 2021. Overall, the yield indicated a buoyant increase from 2012 to 2022: its figure increased at an average annual rate of +9.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, coconut yield increased by +141.6% against 2012 indices. The growth pace was the most rapid in 2013 with an increase of 54%. The coconut yield peaked at X tons per ha in 2021, and then shrank slightly 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, the harvested area of coconuts in the Dominican Republic shrank slightly to X ha, remaining constant against the previous year's figure. In general, the harvested area, however, showed a modest expansion. The most prominent rate of growth was recorded in 2013 when the harvested area increased by 16% against the previous year. Over the period under review, the harvested area dedicated to coconut production attained the peak figure at X ha in 2019; however, from 2020 to 2022, the harvested area remained at a lower figure.

Coconut Exports

Exports from the Dominican Republic

Coconut exports from the Dominican Republic dropped remarkably to X tons in 2022, shrinking by -59.9% against 2021 figures. Overall, exports showed a abrupt decline. The pace of growth was the most pronounced in 2015 when exports increased by 90%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, coconut exports contracted notably to $X in 2022. Over the period under review, exports faced a abrupt slump. The growth pace was the most rapid in 2014 with an increase of 41%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons), British Virgin Islands (X tons) and France (X tons) were the main destinations of coconut exports from the Dominican Republic, together comprising 96% 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 +248.0%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for coconuts exports from the Dominican Republic, comprising 60% of total exports. The second position in the ranking was held by British Virgin Islands ($X), with a 26% share of total exports. It was followed by France, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to -14.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: British Virgin Islands (+95.4% per year) and France (+245.9% per year).

Export Prices by Country

The average coconut export price stood at $X per ton in 2022, falling by -24.3% against the previous year. Overall, the export price showed a slight setback. The most prominent rate of growth was recorded in 2016 an increase of 93% against the previous year. The export price peaked at $X per ton in 2021, and then contracted notably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Switzerland ($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 (+23.2%), while the prices for the other major destinations experienced more modest paces of growth.

Coconut Imports

Imports into the Dominican Republic

In 2022, after two years of growth, there was significant decline in purchases abroad of coconuts, when their volume decreased by -8.5% to X tons. In general, imports, however, continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2017 with an increase of 91% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, coconut imports shrank slightly to $X in 2022. Over the period under review, imports, however, saw a prominent increase. The pace of growth appeared the most rapid in 2017 when imports increased by 63%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Guyana (X tons) was the main supplier of coconut to the Dominican Republic, with a 95% share of total imports. It was followed by India (X tons), with a 1.3% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Guyana amounted to +15.6%.

In value terms, Guyana ($X) constituted the largest supplier of coconuts to the Dominican Republic, comprising 93% of total imports. The second position in the ranking was taken by India ($X), with a 1% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Guyana stood at +10.8%.

Import Prices by Country

In 2022, the average coconut import price amounted to $X per ton, rising by 9.3% against the previous year. Over the period under review, the import price, however, showed a abrupt curtailment. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Guyana ($X per ton), while the price for India stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+11.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :