Dominican Republic: Oil Crops Market 2024

Oil Crops Market Size in the Dominican Republic

The Dominican oil crops market reduced slightly to $X in 2022, standing approx. at the previous year. Over the period under review, consumption, however, recorded resilient growth. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Oil Crops Production in the Dominican Republic

In value terms, oil crops production fell to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

The average yield of oil crops (primary) in the Dominican Republic fell modestly to X tons per ha in 2022, almost unchanged from 2021. The yield figure increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the yield increased by X%. Over the period under review, the average oil crops yield attained the peak level at X tons per ha in 2021, and then dropped slightly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of oil crops (primary) production in the Dominican Republic shrank slightly to X ha, almost unchanged from the previous year's figure. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2013 when the harvested area increased by X%. The oil crops harvested area peaked at X ha in 2019; however, from 2020 to 2022, the harvested area remained at a lower figure.

Oil Crops Exports

Exports from the Dominican Republic

In 2022, exports of oil crops (primary) from the Dominican Republic contracted remarkably to X tons, declining by X% compared with the previous year. Overall, exports recorded a abrupt setback. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, oil crops exports fell markedly to $X in 2022. Over the period under review, exports faced a deep reduction. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons), British Virgin Islands (X tons) and France (X tons) were the main destinations of oil crops exports from the Dominican Republic, together comprising X% of total exports.

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

In value terms, the United States ($X) remains the key foreign market for oil crops (primary) exports from the Dominican Republic, comprising X% of total exports. The second position in the ranking was held by British Virgin Islands ($X), with a X% share of total exports. It was followed by France, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: British Virgin Islands (X% per year) and France (X% per year).

Export Prices by Country

The average oil crops export price stood at $X per ton in 2022, falling by X% against the previous year. Overall, the export price continues to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2016 when the average export price increased by X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the 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 Haiti ($X per ton), while the average price for exports to Switzerland ($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 Belgium (X%), while the prices for the other major destinations experienced more modest paces of growth.

Oil Crops Imports

Imports into the Dominican Republic

In 2022, imports of oil crops (primary) into the Dominican Republic fell to X tons, waning by X% against the previous year's figure. Over the period under review, imports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, oil crops imports expanded rapidly to $X in 2022. In general, imports, however, enjoyed prominent growth. The pace of growth appeared the most rapid in 2019 with an increase of X%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, the United States (X tons) constituted the largest oil crops supplier to the Dominican Republic, with a X% share of total imports. Moreover, oil crops imports from the United States exceeded the figures recorded by the second-largest supplier, Guyana (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Guyana (X% per year) and Cote d'Ivoire (X% per year).

In value terms, the United States ($X) constituted the largest supplier of oil crops (primary) to the Dominican Republic, comprising X% of total imports. The second position in the ranking was taken by Guyana ($X), with an X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Guyana (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

In 2022, the average oil crops import price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price, however, saw a abrupt decline. The pace of growth was the most pronounced in 2014 an increase of X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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