Dominican Republic: Maize Starch Market 2024

Maize Starch Market Size in the Dominican Republic

In 2021, the Dominican maize starch market decreased by -12.3% to $X for the first time since 2017, thus ending a three-year rising trend. In general, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Maize Starch Production in the Dominican Republic

In value terms, maize starch production reduced to $X in 2021 estimated in export price. Over the period under review, production, however, saw a resilient expansion. The growth pace was the most rapid in 2014 when the production volume increased by 111% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Maize Starch Exports

Exports from the Dominican Republic

In 2021, approx. X tons of maize (corn) starch were exported from the Dominican Republic; increasing by 4.3% on 2020 figures. In general, exports saw significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 535%. The exports peaked in 2021 and are likely to continue growth in years to come.

In value terms, maize starch exports reached $X in 2021. Overall, exports showed a significant expansion. The pace of growth was the most pronounced in 2019 when exports increased by 260% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Haiti (X tons) was the main destination for maize starch exports from the Dominican Republic, with a 98% share of total exports. It was followed by Cuba (X kg), with less than 0.1% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Haiti totaled +74.5%.

In value terms, Haiti ($X) remains the key foreign market for maize (corn) starch exports from the Dominican Republic, comprising 96% of total exports. The second position in the ranking was held by Cuba ($X), with less than 0.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Haiti stood at +59.2%.

Export Prices by Country

The average maize starch export price stood at $X per ton in 2021, shrinking by -2.7% against the previous year. Over the period under review, the export price showed a abrupt setback. The pace of growth appeared the most rapid in 2016 an increase of 81%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Cuba ($X per ton), while the average price for exports to Haiti totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cuba (-7.1%).

Maize Starch Imports

Imports into the Dominican Republic

In 2021, the amount of maize (corn) starch imported into the Dominican Republic dropped significantly to X tons, shrinking by -22.6% on 2020 figures. Overall, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 33% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, maize starch imports fell notably to $X in 2021. Over the period under review, imports saw a noticeable downturn. The pace of growth was the most pronounced in 2020 with an increase of 12% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Brazil (X tons), Argentina (X tons) and France (X tons) were the main suppliers of maize starch imports to the Dominican Republic, together comprising 69% of total imports.

From 2012 to 2021, the biggest increases were recorded for Brazil (with a CAGR of +43.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest maize starch suppliers to the Dominican Republic were Brazil ($X), Argentina ($X) and France ($X), together comprising 59% of total imports. Mexico, the United States, Paraguay, Ukraine and the Netherlands lagged somewhat behind, together comprising a further 31%.

Ukraine, with a CAGR of +46.3%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average maize starch import price stood at $X per ton in 2021, declining by -5.6% against the previous year. In general, the import price saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2014 when the average import price increased by 4.8% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+30.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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