Dominican Republic: Dry Vegetable Market 2024

Dry Vegetable Market Size in the Dominican Republic

The Dominican dry vegetable market dropped to $X in 2022, almost unchanged from 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). Over the period under review, consumption, however, saw a resilient increase. Dry vegetable consumption peaked at $X in 2021, and then declined in the following year.

Dry Vegetable Exports

Exports from the Dominican Republic

In 2022, after two years of growth, there was significant decline in overseas shipments of dry vegetables, when their volume decreased by -37% to X tons. Over the period under review, exports continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2015 when exports increased by 50% against the previous year. 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, dry vegetable exports dropped remarkably to $X in 2022. Overall, exports, however, saw a noticeable increase. The most prominent rate of growth was recorded in 2017 when exports increased by 123%. The exports peaked at $X in 2021, and then reduced dramatically in the following year.

Exports by Country

The United States (X tons) was the main destination for dry vegetable exports from the Dominican Republic, with a 62% share of total exports. Moreover, dry vegetable exports to the United States exceeded the volume sent to the second major destination, Haiti (X tons), twofold. The third position in this ranking was taken by Curacao (X tons), with a 2.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled -4.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (-8.3% per year) and Curacao (+61.9% per year).

In value terms, the United States ($X), Haiti ($X) and Curacao ($X) constituted the largest markets for dry vegetable exported from the Dominican Republic worldwide, together accounting for 97% of total exports.

Curacao, with a CAGR of +57.6%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average dry vegetable export price stood at $X per ton in 2022, with an increase of 23% against the previous year. In general, the export price showed resilient growth. The most prominent rate of growth was recorded in 2017 when the average export price increased by 70%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Haiti ($X per ton), while the average price for exports to France ($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 Haiti (+26.8%), while the prices for the other major destinations experienced more modest paces of growth.

Dry Vegetable Imports

Imports into the Dominican Republic

After two years of growth, purchases abroad of dry vegetables decreased by -14.9% to X tons in 2022. Over the period under review, total imports indicated noticeable growth from 2012 to 2022: its volume 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. The most prominent rate of growth was recorded in 2015 with an increase of 36%. Imports peaked at X tons in 2021, and then fell in the following year.

In value terms, dry vegetable imports reduced to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 37% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest dry vegetable supplier to the Dominican Republic, accounting for a 77% share of total imports. Moreover, dry vegetable imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold. The third position in this ranking was held by Egypt (X tons), with a 4.7% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +16.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-10.9% per year) and Egypt (+33.0% per year).

In value terms, China ($X) constituted the largest supplier of dry vegetables to the Dominican Republic, comprising 59% of total imports. The second position in the ranking was taken by the United States ($X), with a 13% share of total imports. It was followed by Colombia, with a 9.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +11.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-3.1% per year) and Colombia (-14.6% per year).

Import Prices by Country

The average dry vegetable import price stood at $X per ton in 2022, picking up by 11% against the previous year. In general, the import price, however, recorded a slight contraction. The pace of growth was the most pronounced in 2017 when the average import price increased by 18% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 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 Colombia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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