Dominican Republic: Preserved Sweet Corn Market 2024

Preserved Sweet Corn Market Size in the Dominican Republic

The Dominican preserved sweet corn market surged to $X in 2022, jumping by 42% against the previous year. Overall, consumption posted significant growth. Preserved sweet corn consumption peaked in 2022 and is expected to retain growth in years to come.

Preserved Sweet Corn Production in the Dominican Republic

In value terms, preserved sweet corn production totaled $X in 2022 estimated in export price. Overall, production saw a precipitous curtailment. The most prominent rate of growth was recorded in 2013 with a decrease of 99.9% against the previous year. Preserved sweet corn production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

In 2022, the average preserved sweet corn yield in the Dominican Republic stood at less than X kg per ha, standing approx. at 2021 figures. Overall, the yield recorded a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The preserved sweet corn harvested area in the Dominican Republic was estimated at less than X ha in 2022, almost unchanged from the previous year. Over the period under review, the harvested area continues to indicate a relatively flat trend pattern.

Preserved Sweet Corn Exports

Exports from the Dominican Republic

In 2022, overseas shipments of sweet corn prepared or preserved increased by 236% to X tons, rising for the second consecutive year after six years of decline. Over the period under review, exports, however, recorded a abrupt curtailment. The pace of growth was the most pronounced in 2014 with an increase of 252%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, preserved sweet corn exports soared to $X in 2022. Overall, exports, however, continue to indicate a deep setback. The pace of growth appeared the most rapid in 2014 when exports increased by 345% against the previous year. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Haiti (X tons), Turks and Caicos Islands (X tons) and Curacao (X tons) were the main destinations of preserved sweet corn exports from the Dominican Republic, together comprising 68% of total exports. Panama, Guyana, the United States and the Netherlands lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Panama (with a CAGR of +118.6%), while the other leaders experienced more modest paces of growth.

In value terms, Haiti ($X) emerged as the key foreign market for sweet corn prepared or preserved exports from the Dominican Republic, comprising 36% of total exports. The second position in the ranking was taken by Panama ($X), with an 8.7% share of total exports. It was followed by the United States, with a 7.2% share.

From 2012 to 2022, the average annual growth rate of value to Haiti totaled -20.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+128.3% per year) and the United States (+29.8% per year).

Export Prices by Country

The average preserved sweet corn export price stood at $X per ton in 2022, with an increase of 16% against the previous year. Over the period under review, the export price continues to indicate a buoyant increase. The pace of growth was the most pronounced in 2016 an increase of 71% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Turks and Caicos Islands ($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 Haiti (+9.6%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Sweet Corn Imports

Imports into the Dominican Republic

Preserved sweet corn imports into the Dominican Republic soared to X tons in 2022, jumping by 23% against 2021. Overall, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 144%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, preserved sweet corn imports surged to $X in 2022. Over the period under review, imports saw a significant increase. The pace of growth appeared the most rapid in 2014 when imports increased by 160%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, the United States (X tons) constituted the largest preserved sweet corn supplier to the Dominican Republic, accounting for a 81% share of total imports. Moreover, preserved sweet corn imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at +33.2%.

In value terms, the United States ($X) constituted the largest supplier of sweet corn prepared or preserved to the Dominican Republic, comprising 85% of total imports. The second position in the ranking was taken by China ($X), with a 13% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +37.1%.

Import Prices by Country

The average preserved sweet corn import price stood at $X per ton in 2022, jumping by 23% against the previous year. In general, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, preserved sweet corn import price increased by +85.7% against 2016 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat 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 China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.0%).

Source: IndexBox Platform

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