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Dominican Republic - Palm Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPalm Oil Price in the Dominican Republic - 2023
Contents:
- Palm Oil Price in the Dominican Republic (CIF) - 2023
- Palm Oil Price in the Dominican Republic (FOB) - 2023
- Palm Oil Imports in the Dominican Republic
- Palm Oil Exports in the Dominican Republic
Palm Oil Price in the Dominican Republic (CIF) - 2023
The average palm oil import price stood at $1,178 per ton in March 2023, with a decrease of -25.3% against the previous month. In general, the import price saw a noticeable shrinkage. The pace of growth appeared the most rapid in February 2023 when the average import price increased by 29% m-o-m. The import price peaked at $1,951 per ton in August 2022; however, from September 2022 to March 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Guatemala ($1,825 per ton), while the price for Colombia ($1,101 per ton) was amongst the lowest.
From March 2022 to March 2023, the most notable rate of growth in terms of prices was attained by Guatemala (+1.5%), while the prices for the other major suppliers experienced mixed trend patterns.
Palm Oil Price in the Dominican Republic (FOB) - 2023
The average palm oil export price stood at $2,081 per ton in March 2023, with a decrease of -26.1% against the previous month. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2023 when the average export price increased by 48% m-o-m. As a result, the export price attained the peak level of $2,815 per ton, and then shrank notably in the following month.
As there is only one major export destination, the average price level is determined by prices for Haiti.
From March 2022 to March 2023, the rate of growth in terms of prices for Haiti amounted to +0.1% per month.
Palm Oil Imports in the Dominican Republic
In 2022, overseas purchases of palm oil decreased by -8.3% to 68K tons for the first time since 2018, thus ending a three-year rising trend. Overall, total imports indicated a significant increase from 2019 to 2022: its volume increased at an average annual rate of +20.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +73.9% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 43% against the previous year. As a result, imports reached the peak of 74K tons, and then contracted in the following year.
In value terms, palm oil imports expanded sharply to $102M in 2022. Over the period under review, imports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2021 when imports increased by 130%. Imports peaked in 2022 and are likely to continue growth in the immediate term.
Import of Palm Oil in the Dominican Republic (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Colombia | 3.9 | 10.7 | 34.3 | 62.4 | 152.0% |
Guatemala | 7.7 | 6.0 | 14.3 | 25.7 | 49.4% |
Honduras | 0.3 | 3.5 | 4.3 | 9.1 | 211.9% |
Peru | 6.7 | 11.1 | 29.8 | 3.3 | -21.0% |
Malaysia | 1.7 | 1.2 | 1.4 | 1.4 | -6.3% |
Ecuador | 3.6 | 6.1 | 7.3 | N/A | 42.4% |
Others | 0.4 | 1.1 | 0.2 | 0.2 | -20.6% |
Total | 24.3 | 39.8 | 91.6 | 102 | 61.3% |
Top Suppliers of Palm Oil to the Dominican Republic in 2022:
- Ecuador (undefinedK tons)
- Colombia (39.3K tons)
- Guatemala (18.5K tons)
- Honduras (6.5K tons)
- Peru (3.0K tons)
- Malaysia (0.7K tons)
Palm Oil Exports in the Dominican Republic
In 2022, the amount of palm oil exported from the Dominican Republic soared to 7.2K tons, with an increase of 40% against the previous year. In general, exports showed significant growth. The pace of growth was the most pronounced in 2021 when exports increased by 805%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in years to come.
In value terms, palm oil exports soared to $16M in 2022. Overall, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 862%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.
Export of Palm Oil in the Dominican Republic (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Haiti | 1.9 | 0.9 | 9.0 | 16.0 | 103.4% |
United States | 0.2 | 0.1 | N/A | N/A | -50.0% |
Others | N/A | N/A | N/A | N/A | 0% |
Total | 2.1 | 0.9 | 9.0 | 16.0 | 96.8% |
Top Export Markets for Palm Oil from the Dominican Republic in 2022:
- United States (undefinedK tons)
- Haiti (7.2K tons)
This report provides an in-depth analysis of the palm oil market in the Dominican Republic. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 257 - Oil of palm
Country coverage:
- Dominican Republic
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the Dominican Republic
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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