Dominican Republic: Paddy Rice Market 2024

Paddy Rice Market Size in the Dominican Republic

The Dominican paddy rice market reached $X in 2022, therefore, remained relatively stable against the previous year. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Paddy rice consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Paddy Rice Production in the Dominican Republic

In value terms, paddy rice production rose to $X in 2022 estimated in export price. Overall, the total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.5% against 2020 indices. The growth pace was the most rapid in 2014 when the production volume increased by 23%. Over the period under review, production attained the maximum level at $X in 2020; afterwards, it flattened through to 2022.

In 2022, the average yield of paddy rice in the Dominican Republic reduced slightly to X tons per ha, therefore, remained relatively stable against the previous year. The yield figure increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 22%. Over the period under review, the average paddy rice yield attained the maximum level at X tons per ha in 2015; however, from 2016 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of paddy rice in the Dominican Republic contracted modestly to X ha, shrinking by -2.1% against the previous year. The harvested area increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 10% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2019 to 2022, the growth of the paddy rice harvested area failed to regain momentum.

Paddy Rice Exports

Exports from the Dominican Republic

After six years of growth, shipments abroad of paddy rice decreased by -18.4% to X tons in 2022. In general, exports, however, showed a noticeable increase. The most prominent rate of growth was recorded in 2013 when exports increased by 299% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, paddy rice exports fell to $X in 2022. Overall, exports, however, saw slight growth. The most prominent rate of growth was recorded in 2013 with an increase of 167%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Guatemala (X tons) was the main destination for paddy rice exports from the Dominican Republic, accounting for a 94% share of total exports. Moreover, paddy rice exports to Guatemala exceeded the volume sent to the second major destination, Haiti (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Guatemala was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (-14.5% per year) and Costa Rica (-43.2% per year).

In value terms, Guatemala ($X) emerged as the key foreign market for paddy rice exports from the Dominican Republic, comprising 96% of total exports. The second position in the ranking was held by Haiti ($X), with a 2.3% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Guatemala was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (-20.0% per year) and Costa Rica (-33.1% per year).

Export Prices by Country

The average paddy rice export price stood at $X per ton in 2022, increasing by 5.4% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average export price increased by 13%. Over the period under review, the average export prices hit record highs 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 overseas markets. In 2022, amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while the average price for exports to Haiti ($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 Costa Rica (+17.6%).

Paddy Rice Imports

Imports into the Dominican Republic

After seven years of growth, overseas purchases of paddy rice decreased by -42% to X tons in 2022. In general, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 695%. As a result, imports reached the peak of X tons, and then dropped sharply in the following year.

In value terms, paddy rice imports shrank rapidly to $X in 2022. Overall, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 691% against the previous year. As a result, imports reached the peak of $X, and then dropped markedly in the following year.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of paddy rice to the Dominican Republic, with a 62% share of total imports. Moreover, paddy rice imports from the United States exceeded the figures recorded by the second-largest supplier, Canada (X tons), fourfold. Spain (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled +59.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+64.1% per year) and Spain (+25.6% per year).

In value terms, the United States ($X) constituted the largest supplier of paddy rice to the Dominican Republic, comprising 81% of total imports. The second position in the ranking was held by Canada ($X), with an 8.1% share of total imports. It was followed by Germany, with a 6.4% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled +73.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+64.7% per year) and Germany (+2.2% per year).

Import Prices by Country

In 2022, the average paddy rice import price amounted to $X per ton, which is down by -2.9% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 24% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Germany ($X per ton), while the price for Spain ($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 (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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