Dominican Republic: Phosphatic Fertilizer Market 2024

Phosphatic Fertilizer Market Size in the Dominican Republic

The Dominican phosphatic fertilizer market reduced slightly to $X in 2022, falling by X% against the previous year. Overall, consumption, however, recorded a abrupt setback. Phosphatic fertilizer consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Phosphatic Fertilizer Production in the Dominican Republic

In value terms, phosphatic fertilizer production fell to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate significant growth. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Phosphatic Fertilizer Exports

Exports from the Dominican Republic

In 2022, overseas shipments of phosphatic fertilizers decreased by X% to X tons, falling for the second year in a row after three years of growth. Over the period under review, exports continue to indicate a sharp reduction. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, phosphatic fertilizer exports fell markedly to $X in 2022. Overall, exports showed a sharp contraction. The growth pace was the most rapid in 2015 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for phosphatic fertilizer exports from the Dominican Republic, with a X% share of total exports. Moreover, phosphatic fertilizer exports to the United States exceeded the volume sent to the second major destination, Saint Lucia (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Saint Lucia (X% per year) and Trinidad and Tobago (X% per year).

In value terms, the United States ($X), Trinidad and Tobago ($X) and Saint Lucia ($X) appeared to be the largest markets for phosphatic fertilizer exported from the Dominican Republic worldwide, with a combined X% share of total exports.

Trinidad and Tobago, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average phosphatic fertilizer export price stood at $X per ton in 2022, shrinking by X% against the previous year. In general, the export price recorded a abrupt downturn. The growth pace was the most rapid in 2015 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Trinidad and Tobago ($X per ton), while the average price for exports to Saint Lucia ($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 (X%), while the prices for the other major destinations experienced a decline.

Phosphatic Fertilizer Imports

Imports into the Dominican Republic

After two years of growth, supplies from abroad of phosphatic fertilizers decreased by X% to X tons in 2022. In general, imports saw a significant decrease. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, phosphatic fertilizer imports fell dramatically to $X in 2022. Over the period under review, imports showed a precipitous decrease. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Morocco (X tons) constituted the largest supplier of phosphatic fertilizer to the Dominican Republic, with a X% share of total imports. Moreover, phosphatic fertilizer imports from Morocco exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold. Brazil (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Morocco totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Brazil (X% per year).

In value terms, Morocco ($X) constituted the largest supplier of phosphatic fertilizers to the Dominican Republic, comprising X% of total imports. The second position in the ranking was held by Brazil ($X), with a X% share of total imports. It was followed by Argentina, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Morocco stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Argentina (X.2% per year).

Import Prices by Country

The average phosphatic fertilizer import price stood at $X per ton in 2022, rising by X% against the previous year. In general, import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, phosphatic fertilizer import price decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for Morocco ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform