Dominican Republic: Groundnuts Market 2024

Groundnuts Market Size in the Dominican Republic

The Dominican groundnuts market declined modestly to $X in 2022, reducing by -4.9% against the previous year. Overall, consumption showed a strong increase. Groundnuts consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Groundnuts Production in the Dominican Republic

In value terms, groundnuts production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a resilient expansion. The pace of growth was the most pronounced in 2013 when the production volume increased by 93% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

The average yield of ground-nut (in-shell) in the Dominican Republic contracted modestly to X tons per ha in 2022, remaining constant against 2021. Overall, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 10%. The groundnuts yield peaked at X tons per ha in 2021, and then contracted modestly 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 total area harvested in terms of ground-nut (in-shell) production in the Dominican Republic reduced modestly to X ha, flattening at 2021 figures. Overall, the total harvested area indicated a temperate increase from 2012 to 2022: its figure increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, groundnuts harvested area decreased by +0.9% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of 59%. The groundnuts harvested area peaked at X ha in 2019; however, from 2020 to 2022, the harvested area stood at a somewhat lower figure.

Groundnuts Exports

Exports from the Dominican Republic

In 2022, overseas shipments of ground-nut (in-shell) increased by 0.5% to X tons, rising for the second year in a row after three years of decline. Overall, exports, however, recorded a mild decrease. The pace of growth appeared the most rapid in 2013 when exports increased by 241% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, groundnuts exports amounted to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 145% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for groundnuts exports from the Dominican Republic, accounting for a 98% share of total exports. It was followed by Switzerland (X kg), with a 2.4% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +4.2%.

In value terms, the United States ($X) remains the key foreign market for ground-nut (in-shell) exports from the Dominican Republic, comprising 96% of total exports. The second position in the ranking was taken by Switzerland ($X), with a 3.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +9.1%.

Export Prices by Country

The average groundnuts export price stood at $X per ton in 2022, stabilizing at the previous year. Overall, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, groundnuts export price decreased by -19.6% against 2018 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by 36%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to the United States amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Haiti (+22.3%), while the prices for the other major destinations experienced mixed trend patterns.

Groundnuts Imports

Imports into the Dominican Republic

In 2022, purchases abroad of ground-nut (in-shell) increased by 174% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports saw a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 1,712% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, groundnuts imports surged to $X in 2022. In general, imports showed a significant expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 1,711%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Nicaragua (X tons) and Bolivia (X tons) were the main suppliers of groundnuts imports to the Dominican Republic.

From 2012 to 2022, the biggest increases were recorded for Nicaragua (with a CAGR of +40.0%).

In value terms, Bolivia ($X) and Nicaragua ($X) constituted the largest groundnuts suppliers to the Dominican Republic.

Among the main suppliers, Nicaragua, with a CAGR of +19.3%, recorded the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

In 2022, the average groundnuts import price amounted to $X per ton, increasing by 3.6% against the previous year. Overall, the import price, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2016 an increase of 47%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Bolivia ($X per ton), while the price for Nicaragua stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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