Dominican Republic: Mixed Fertilizer Market 2024

Mixed Fertilizer Market Size in the Dominican Republic

The Dominican mixed fertilizer market amounted to $X in 2022, stabilizing at the previous year. In general, consumption posted a strong increase. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Mixed Fertilizer Production in the Dominican Republic

In value terms, mixed fertilizer production rose slightly to $X in 2022 estimated in export price. Overall, production saw resilient growth. The pace of growth appeared the most rapid in 2018 when the production volume increased by 42% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Mixed Fertilizer Exports

Exports from the Dominican Republic

In 2022, shipments abroad of mixed fertilizers decreased by -3.9% to X tons, falling for the third year in a row after three years of growth. In general, exports showed a mild descent. The pace of growth appeared the most rapid in 2019 when exports increased by 112%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, mixed fertilizer exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a measured expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 501%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Guyana (X tons), Haiti (X tons) and the United States (X tons) were the main destinations of mixed fertilizer exports from the Dominican Republic, with a combined 84% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +9.6%), while the other leaders experienced more modest paces of growth.

In value terms, Guyana ($X), Haiti ($X) and the United States ($X) were the largest markets for mixed fertilizer exported from the Dominican Republic worldwide, with a combined 81% share of total exports.

Among the main countries of destination, the United States, with a CAGR of +15.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average mixed fertilizer export price stood at $X per ton in 2022, increasing by 61% against the previous year. In general, the export price continues to indicate a strong increase. The growth pace was the most rapid in 2018 when the average export price increased by 331%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Saint Lucia ($X per ton), while the average price for exports to Haiti ($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 Guyana (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Mixed Fertilizer Imports

Imports into the Dominican Republic

In 2022, supplies from abroad of mixed fertilizers decreased by -35.4% to X tons, falling for the fourth consecutive year after three years of growth. Over the period under review, imports, however, saw modest growth. The most prominent rate of growth was recorded in 2016 with an increase of 64%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, mixed fertilizer imports reached $X in 2022. In general, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 +33.8% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 50% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of mixed fertilizer to the Dominican Republic, with a 67% share of total imports. Moreover, mixed fertilizer imports from the United States exceeded the figures recorded by the second-largest supplier, Russia (X tons), tenfold. Belgium (X tons) ranked third in terms of total imports with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at +5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+1.2% per year) and Belgium (+16.0% per year).

In value terms, the United States ($X) constituted the largest supplier of mixed fertilizers to the Dominican Republic, comprising 60% of total imports. The second position in the ranking was held by Russia ($X), with a 6.5% share of total imports. It was followed by Belgium, with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled +8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+6.8% per year) and Belgium (+19.9% per year).

Import Prices by Country

In 2022, the average mixed fertilizer import price amounted to $X per ton, with an increase of 68% against the previous year. In general, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mixed fertilizer import price increased by +107.8% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 China ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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