Dominican Republic: Molasse Market 2024

Molasse Market Size in the Dominican Republic

In 2022, the Dominican molasse market decreased by -4.7% to $X, falling for the second consecutive year after two years of growth. In general, consumption showed a abrupt slump. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Molasse Production in the Dominican Republic

In value terms, molasse production stood at $X in 2022 estimated in export price. Overall, production saw a slight slump. The pace of growth was the most pronounced in 2018 when the production volume increased by 4.6% against the previous year. Molasse production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Molasse Exports

Exports from the Dominican Republic

In 2022, shipments abroad of molasses increased by 2% to X tons, rising for the second year in a row after two years of decline. In general, total exports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +15.6% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 59%. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, molasse exports surged to $X in 2022. Overall, total exports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +36.3% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of 46%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for molasse exports from the Dominican Republic, with a 67% share of total exports. Moreover, molasse exports to the United States exceeded the volume sent to the second major destination, Barbados (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +7.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Barbados (+21.8% per year) and Trinidad and Tobago (-11.4% per year).

In value terms, the United States ($X) remains the key foreign market for molasses exports from the Dominican Republic, comprising 64% of total exports. The second position in the ranking was held by Barbados ($X), with a 25% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Barbados (+20.4% per year) and Trinidad and Tobago (-9.7% per year).

Export Prices by Country

The average molasse export price stood at $X per ton in 2022, surging by 15% against the previous year. Overall, the export price, however, showed a mild reduction. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Trinidad and Tobago ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Trinidad and Tobago (+1.9%), while the prices for the other major destinations experienced a decline.

Molasse Imports

Imports into the Dominican Republic

After three years of decline, purchases abroad of molasses increased by 101% to X tons in 2022. In general, imports, however, faced a precipitous slump. The most prominent rate of growth was recorded in 2015 when imports increased by 20,058%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, molasse imports soared to $X in 2022. Over the period under review, imports, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 when imports increased by 20,739%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) was the main molasse supplier to the Dominican Republic, with a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to -29.1%.

In value terms, the United States ($X) constituted the largest supplier of molasses to the Dominican Republic.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to -5.0%.

Import Prices by Country

In 2022, the average molasse import price amounted to $X per ton, rising by 19% against the previous year. In general, the import price continues to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 when the average import price increased by 474%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +34.1% per year.

Source: IndexBox Platform

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