Dominican Republic: Fungicide And Bactericide Market 2024

Fungicide And Bactericide Market Size in the Dominican Republic

The Dominican fungicide and bactericide market amounted to $X in 2021, leveling off at 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). In general, consumption, however, continues to indicate a prominent expansion. Fungicide and bactericide consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Fungicide And Bactericide Exports

Exports from the Dominican Republic

In 2021, approx. X tons of fungicides, bactericides and seed treatments were exported from the Dominican Republic; picking up by 46% compared with 2020. Over the period under review, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 202% against the previous year. The exports peaked in 2021 and are likely to continue growth in the near future.

In value terms, fungicide and bactericide exports skyrocketed to $X in 2021. Overall, exports recorded a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 117%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Jamaica (X tons) was the main destination for fungicide and bactericide exports from the Dominican Republic, accounting for a 49% share of total exports. Moreover, fungicide and bactericide exports to Jamaica exceeded the volume sent to the second major destination, the United States (X tons), threefold. The third position in this ranking was held by Haiti (X tons), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to Jamaica amounted to +135.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+22.5% per year) and Haiti (+7.0% per year).

In value terms, Jamaica ($X) emerged as the key foreign market for fungicides, bactericides and seed treatments exports from the Dominican Republic, comprising 35% of total exports. The second position in the ranking was held by the United States ($X), with a 12% share of total exports. It was followed by Trinidad and Tobago, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Jamaica totaled +122.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+21.1% per year) and Trinidad and Tobago (+50.1% per year).

Export Prices by Country

The average fungicide and bactericide export price stood at $X per ton in 2021, waning by -8.6% against the previous year. In general, the export price showed a slight decline. The growth pace was the most rapid in 2018 when the average export price increased by 51% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Guyana ($X per ton), while the average price for exports to Curacao ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+46.2%), while the prices for the other major destinations experienced more modest paces of growth.

Fungicide And Bactericide Imports

Imports into the Dominican Republic

Fungicide and bactericide imports into the Dominican Republic dropped to X tons in 2021, waning by -13.7% compared with the year before. In general, imports, however, saw a strong expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 100%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, fungicide and bactericide imports expanded markedly to $X in 2021. Overall, imports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2017 when imports increased by 77% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Colombia (X tons) and the United States (X tons) were the main suppliers of fungicide and bactericide imports to the Dominican Republic, together accounting for 58% of total imports. These countries were followed by India, Mexico, Spain, Guatemala, Costa Rica, Japan, Germany, Thailand, Bulgaria and Israel, which together accounted for a further 34%.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +34.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Colombia ($X) and the United States ($X) constituted the largest fungicide and bactericide suppliers to the Dominican Republic, together accounting for 55% of total imports. Spain, Mexico, Guatemala, India, Germany, Israel, Japan, Costa Rica, Bulgaria and Thailand lagged somewhat behind, together comprising a further 34%.

Spain, with a CAGR of +27.2%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average fungicide and bactericide import price amounted to $X per ton, growing by 24% against the previous year. Overall, the import price, however, saw a slight decline. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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