Dominican Republic: Spice Market 2024

Spice Market Size in the Dominican Republic

The Dominican spice market expanded rapidly to $X in 2022, picking up by X% against the previous year. Overall, the total consumption indicated a buoyant expansion from 2012 to 2022: its value 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, consumption decreased by X% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Spice Production in the Dominican Republic

In value terms, spice production fell to $X in 2022 estimated in export price. Over the period under review, the total production indicated a buoyant expansion from 2012 to 2022: its value 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, production increased by X% against 2018 indices. The pace of growth was the most pronounced in 2013 with an increase of X%. Spice production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

In 2022, the average yield of spices in the Dominican Republic shrank to X kg per ha, remaining stable against 2021 figures. Over the period under review, the yield showed a slight decrease. The pace of growth appeared the most rapid in 2018 when the yield increased by X% against the previous year. Over the period under review, the average spice yield hit record highs at X tons per ha in 2014; however, from 2015 to 2022, the yield remained at a 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, approx. X ha of spices were harvested in the Dominican Republic; remaining relatively unchanged against 2021. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the harvested area increased by X% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2014 to 2022, the growth of the spice harvested area remained at a somewhat lower figure.

Spice Exports

Exports from the Dominican Republic

In 2022, overseas shipments of spices decreased by X% to X tons, falling for the third year in a row after three years of growth. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, spice exports fell dramatically to $X in 2022. Over the period under review, exports, however, recorded measured growth. The growth pace was the most rapid in 2014 when exports increased by X%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Haiti (X tons) was the main destination for spice exports from the Dominican Republic, with a X% share of total exports. Moreover, spice exports to Haiti exceeded the volume sent to the second major destination, the United States (X tons), twofold. France (X tons) ranked third in terms of total exports with an X% share.

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

In value terms, Haiti ($X) remains the key foreign market for spices exports from the Dominican Republic, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by France, with an X% share.

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

Export Prices by Country

In 2022, the average spice export price amounted to $X per ton, rising by X% against the previous year. In general, the export price showed a tangible increase. The growth pace was the most rapid in 2015 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in years to come.

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 Canada ($X per ton), while the average price for exports to France ($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 Canada (X%), while the prices for the other major destinations experienced more modest paces of growth.

Spice Imports

Imports into the Dominican Republic

Spice imports into the Dominican Republic fell remarkably to X tons in 2022, waning by X% against the previous year's figure. Overall, imports, however, showed buoyant growth. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, spice imports reached $X in 2022. In general, imports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, Vietnam (X tons) constituted the largest supplier of spice to the Dominican Republic, accounting for a X% share of total imports. Moreover, spice imports from Vietnam exceeded the figures recorded by the second-largest supplier, India (X tons), fourfold. Indonesia (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Vietnam stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Indonesia (X% per year).

In value terms, Vietnam ($X) constituted the largest supplier of spices to the Dominican Republic, comprising X% of total imports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total imports. It was followed by India, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Vietnam amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and India (X% per year).

Import Prices by Country

The average spice import price stood at $X per ton in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Spain ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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