Dominican Republic: Npk Fertilizer Market 2024

Npk Fertilizer Market Size in the Dominican Republic

The Dominican NPK fertilizer market soared to $X in 2022, growing by 56% against the previous year. Overall, consumption, however, enjoyed a remarkable increase. Consumption peaked in 2022 and is expected to retain growth in years to come.

Npk Fertilizer Production in the Dominican Republic

In value terms, NPK fertilizer production dropped significantly to $X in 2022 estimated in export price. In general, production, however, saw a significant increase. The most prominent rate of growth was recorded in 2021 when the production volume increased by 2,490,180,400%. Production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Npk Fertilizer Exports

Exports from the Dominican Republic

After three years of decline, overseas shipments of mixed nitrogen, phosphorus and potassium (NPK) fertilizers increased by 120% to X tons in 2022. Over the period under review, exports continue to indicate mild growth. The most prominent rate of growth was recorded in 2018 with an increase of 1,219% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, NPK fertilizer exports surged to $X in 2022. In general, exports posted resilient growth. The pace of growth was the most pronounced in 2018 when exports increased by 2,141%. 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

Haiti (X tons), Guyana (X tons) and Jamaica (X tons) were the main destinations of NPK fertilizer exports from the Dominican Republic, together comprising 94% of total exports.

From 2012 to 2022, the biggest increases were recorded for Guyana (with a CAGR of +79.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for NPK fertilizer exported from the Dominican Republic were Guyana ($X), Haiti ($X) and Jamaica ($X), with a combined 91% share of total exports.

Guyana, with a CAGR of +99.9%, recorded the highest rates of growth with regard to the value of exports, in terms of 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 NPK fertilizer export price stood at $X per ton in 2022, surging by 89% against the previous year. Overall, the export price enjoyed a strong expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Jamaica ($X per ton) and Guyana ($X per ton), while the average price for exports to Haiti ($X per ton) and Suriname ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guyana (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.

Npk Fertilizer Imports

Imports into the Dominican Republic

NPK fertilizer imports into the Dominican Republic declined notably to X tons in 2022, reducing by -41.3% against the previous year. In general, imports recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 when imports increased by 48%. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, NPK fertilizer imports declined to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 36%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Belgium (X tons), Russia (X tons) and Colombia (X tons) were the main suppliers of NPK fertilizer imports to the Dominican Republic, with a combined 60% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of +32.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Colombia ($X) and Russia ($X) appeared to be the largest NPK fertilizer suppliers to the Dominican Republic, together comprising 50% of total imports.

Among the main suppliers, Russia, with a CAGR of +32.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average NPK fertilizer import price amounted to $X per ton, surging by 64% against the previous year. Over the period under review, import price indicated a notable 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, NPK fertilizer import price increased by +90.6% against 2020 indices. As a result, import price attained 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 the United States ($X per ton), while the price for Russia ($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 (+15.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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