Dominican Republic: Frozen Sweet Corn Market 2024

Frozen Sweet Corn Market Size in the Dominican Republic

The Dominican frozen sweet corn market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption saw significant growth. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Frozen Sweet Corn Exports

Exports from the Dominican Republic

In 2021, the amount of frozen sweet corn exported from the Dominican Republic surged to X tons, growing by 30% against the previous year. Over the period under review, total exports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -10.4% against 2019 indices. The most prominent rate of growth was recorded in 2019 when exports increased by 58% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, frozen sweet corn exports surged to $X in 2021. In general, exports showed prominent growth. The pace of growth appeared the most rapid in 2015 with an increase of 95%. The exports peaked in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Trinidad and Tobago (X tons) was the main destination for frozen sweet corn exports from the Dominican Republic, accounting for a 98% share of total exports. It was followed by Haiti (X kg), with a 1.3% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Trinidad and Tobago stood at +23.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (-25.8% per year) and the United States (-39.3% per year).

In value terms, Trinidad and Tobago ($X) remains the key foreign market for frozen sweet corn exports from the Dominican Republic, comprising 99% of total exports. The second position in the ranking was held by Haiti ($X), with a 1% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Trinidad and Tobago stood at +19.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (-17.6% per year) and the United States (-35.1% per year).

Export Prices by Country

The average frozen sweet corn export price stood at $X per ton in 2021, growing by 12% against the previous year. Overall, export price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, frozen sweet corn export price increased by +13.8% against 2019 indices. The pace of growth was the most pronounced in 2013 an increase of 46%. The export price peaked in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2021, 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 2021, the most notable rate of growth in terms of prices was recorded for supplies to Haiti (+11.0%), while the prices for the other major destinations experienced mixed trend patterns.

Frozen Sweet Corn Imports

Imports into the Dominican Republic

In 2021, supplies from abroad of frozen sweet corn was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports showed a prominent increase. The pace of growth appeared the most rapid in 2013 with an increase of 81% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, frozen sweet corn imports surged to $X in 2021. Over the period under review, imports showed a prominent increase. The most prominent rate of growth was recorded in 2014 when imports increased by 75% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Spain (X tons), the United States (X tons) and China (X tons) were the main suppliers of frozen sweet corn imports to the Dominican Republic, together accounting for 78% of total imports.

From 2012 to 2021, the biggest increases were in Spain (with a CAGR of +90.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen sweet corn suppliers to the Dominican Republic were the United States ($X), Spain ($X) and China ($X), with a combined 81% share of total imports.

Spain, with a CAGR of +91.7%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average frozen sweet corn import price stood at $X per ton in 2021, with a decrease of -11.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 42%. As a result, import price reached the peak level of $X per ton, and then declined in the following year.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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