Dominican Republic: Modified Starches Market 2024

Modified Starches Market Size in the Dominican Republic

The Dominican modified starches market expanded to $X in 2022, picking up by 2.6% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. Modified starches consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Modified Starches Production in the Dominican Republic

In value terms, modified starches production stood at $X in 2022 estimated in export price. Overall, production, however, continues to indicate a mild slump. The growth pace was the most rapid in 2016 when the production volume increased by 49% against the previous year. Modified starches production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Modified Starches Exports

Exports from the Dominican Republic

After six years of growth, shipments abroad of dextrins and other modified starches decreased by -92.8% to X tons in 2022. Over the period under review, exports continue to indicate a sharp shrinkage. The pace of growth was the most pronounced in 2016 when exports increased by 3,122%. The exports peaked at X tons in 2021, and then fell sharply in the following year.

In value terms, modified starches exports declined notably to $X in 2022. In general, exports saw a precipitous descent. The pace of growth was the most pronounced in 2016 with an increase of 2,588% against the previous year. The exports peaked at $X in 2021, and then fell sharply in the following year.

Exports by Country

Cuba (X tons) was the main destination for modified starches exports from the Dominican Republic, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Cuba stood at +16.4%.

In value terms, Cuba ($X) emerged as the key foreign market for dextrins and other modified starches exports from the Dominican Republic.

From 2012 to 2022, the average annual growth rate of value to Cuba amounted to +8.0%.

Export Prices by Country

In 2022, the average modified starches export price amounted to $X per ton, waning by -76.8% against the previous year. In general, the export price faced a deep slump. The pace of growth was the most pronounced in 2020 an increase of 43%. 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 stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Cuba.

From 2012 to 2022, the rate of growth in terms of prices for Costa Rica amounted to +54.9% per year.

Modified Starches Imports

Imports into the Dominican Republic

In 2022, imports of dextrins and other modified starches into the Dominican Republic rose sharply to X tons, with an increase of 13% on the previous year's figure. In general, total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +75.3% against 2017 indices. The pace of growth appeared the most rapid in 2018 with an increase of 34%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, modified starches imports surged to $X in 2022. Overall, total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +8.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +77.5% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest modified starches supplier to the Dominican Republic, accounting for a 40% share of total imports. Moreover, modified starches imports from the United States exceeded the figures recorded by the second-largest supplier, Mexico (X tons), twofold. The third position in this ranking was held by China (X tons), with a 9.1% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +9.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-3.4% per year) and China (+18.4% per year).

In value terms, the United States ($X) constituted the largest supplier of dextrins and other modified starches to the Dominican Republic, comprising 45% of total imports. The second position in the ranking was taken by Mexico ($X), with a 19% share of total imports. It was followed by Italy, with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled +14.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-0.3% per year) and Italy (+17.5% per year).

Import Prices by Country

The average modified starches import price stood at $X per ton in 2022, rising by 22% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. The growth pace was the most rapid in 2016 an increase of 29% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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