Dominican Republic: Preserved Tuna Market 2024

Preserved Tuna Market Size in the Dominican Republic

The Dominican preserved tuna market expanded slightly to $X in 2021, rising by 3.8% against the previous year. Over the period under review, the total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -1.1% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Preserved Tuna Production in the Dominican Republic

In value terms, preserved tuna production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 when the production volume increased by 27% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Preserved Tuna Exports

Exports from the Dominican Republic

In 2021, overseas shipments of tuna (prepared or preserved) increased by 0.3% to X tons, rising for the second year in a row after two years of decline. In general, exports, however, showed a noticeable reduction. The most prominent rate of growth was recorded in 2015 with an increase of 849%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, preserved tuna exports surged to $X in 2021. Overall, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 856% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Slovenia (X tons) was the main destination for preserved tuna exports from the Dominican Republic, accounting for a 52% share of total exports. Moreover, preserved tuna exports to Slovenia exceeded the volume sent to the second major destination, the United States (X kg), threefold. Cuba (X kg) ranked third in terms of total exports with a 6.2% share.

From 2012 to 2021, the average annual growth rate of volume to Slovenia stood at +29.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+5.2% per year) and Cuba (-7.3% per year).

In value terms, the largest markets for preserved tuna exported from the Dominican Republic were Slovenia ($X), Poland ($X) and the United States ($X), together comprising 56% of total exports. Cuba, Panama, Spain, Haiti and Turks and Caicos Islands lagged somewhat behind, together accounting for a further 15%.

Panama, with a CAGR of +82.0%, 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 more modest paces of growth.

Export Prices by Country

In 2021, the average preserved tuna export price amounted to $X per ton, jumping by 15% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.9%. The growth pace was the most rapid in 2014 when the average export price increased by 36%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Turks and Caicos Islands ($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 Spain (+14.5%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Tuna Imports

Imports into the Dominican Republic

After seven years of growth, overseas purchases of tuna (prepared or preserved) decreased by -10.9% to X tons in 2021. Over the period under review, imports, however, showed buoyant growth. The growth pace was the most rapid in 2014 when imports increased by 54% against the previous year. Imports peaked at X tons in 2020, and then contracted in the following year.

In value terms, preserved tuna imports amounted to $X in 2021. In general, imports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2014 with an increase of 35% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, Thailand (X tons) constituted the largest preserved tuna supplier to the Dominican Republic, accounting for a 56% share of total imports. Moreover, preserved tuna imports from Thailand exceeded the figures recorded by the second-largest supplier, Ecuador (X tons), twofold. China (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Thailand stood at +7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (+45.7% per year) and China (+19.3% per year).

In value terms, Thailand ($X) constituted the largest supplier of tuna (prepared or preserved) to the Dominican Republic, comprising 59% of total imports. The second position in the ranking was taken by Ecuador ($X), with a 14% share of total imports. It was followed by China, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Thailand stood at +7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (+37.0% per year) and China (+19.4% per year).

Import Prices by Country

The average preserved tuna import price stood at $X per ton in 2021, surging by 12% against the previous year. In general, the import price, however, showed a mild downturn. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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