Price for Butter and Other Fats and Oils Derived from Milk in the Dominican Republic - 2023
Contents:
- Price for Butter and Other Fats and Oils Derived from Milk in the Dominican Republic (CIF) - 2023
- Price for Butter and Other Fats and Oils Derived from Milk in the Dominican Republic (FOB) - 2022
- Imports of Butter and Other Fats and Oils Derived from Milk in the Dominican Republic
- Exports of Butter and Other Fats and Oils Derived from Milk in the Dominican Republic
Price for Butter and Other Fats and Oils Derived from Milk in the Dominican Republic (CIF) - 2023
In March 2023, the average import price for butter and other fats and oils derived from milk amounted to $7,737 per ton, with an increase of 14% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.2%. The pace of growth was the most pronounced in January 2023 when the average import price increased by 42% month-to-month. As a result, import price reached the peak level of $9,656 per ton. From February 2023 to March 2023, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In March 2023, the country with the highest price was France ($9,952 per ton), while the price for New Zealand ($6,315 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 the United States (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Butter and Other Fats and Oils Derived from Milk in the Dominican Republic (FOB) - 2022
In 2022, the average export price for butter and other fats and oils derived from milk amounted to $5,033 per ton, rising by 50% against the previous year. Overall, the export price recorded a resilient expansion. The pace of growth appeared the most rapid in 2015 an increase of 94% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($28,085 per ton), while the average price for exports to Colombia ($1,812 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 Cuba (+24.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Butter and Other Fats and Oils Derived from Milk in the Dominican Republic
In 2022, approx. 1.6K tons of butter and other fats and oils derived from milk were imported into the Dominican Republic; rising by 21% compared with 2021 figures. The total import volume increased at an average annual rate of +4.6% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period.
In value terms, imports of butter and other fats and oils derived from milk surged to $12M in 2022. In general, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +9.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +45.2% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Butter and Other Fats and Oils Derived from Milk in the Dominican Republic (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 0.7 | 0.6 | 4.5 | 4.2 | 81.7% |
| New Zealand | 6.0 | 3.1 | 0.5 | 3.6 | -15.7% |
| France | 1.3 | 0.9 | 1.1 | 1.3 | 0.0% |
| Germany | N/A | N/A | 0.4 | 1.0 | 150.0% |
| Poland | N/A | 0.1 | 0.4 | 0.5 | 123.6% |
| Chile | N/A | 0.9 | N/A | 0.4 | -33.3% |
| Denmark | 0.4 | 0.5 | 0.5 | 0.3 | -9.1% |
| Spain | 0.2 | 0.7 | 0.2 | 0.3 | 14.5% |
| Honduras | N/A | 1.2 | 0.5 | N/A | -58.3% |
| Others | 0.2 | N/A | N/A | N/A | 0% |
| Total | 8.8 | 7.9 | 8.1 | 11.5 | 9.3% |
Top Suppliers of Butter and Other Fats and Oils Derived from Milk to the Dominican Republic in 2022:
- United States (634.6 tons)
- New Zealand (520.8 tons)
- France (143.0 tons)
- Germany (123.1 tons)
- Poland (71.0 tons)
- Chile (58.3 tons)
- Spain (32.5 tons)
- Denmark (31.9 tons)
Exports of Butter and Other Fats and Oils Derived from Milk in the Dominican Republic
In 2022, overseas shipments of butter and other fats and oils derived from milk increased by 12% to 83 tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, faced a significant decrease.
In value terms, exports of butter and other fats and oils derived from milk soared to $419K in 2022. Overall, exports, however, saw a dramatic slump.
| Export of Butter and Other Fats and Oils Derived from Milk in the Dominican Republic (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 460 | 87.6 | 29.9 | 257 | -17.6% |
| Spain | 37.7 | 22.8 | 101 | 46.1 | 6.9% |
| Colombia | N/A | N/A | N/A | 3.8 | 0% |
| Haiti | 1,778 | 223 | 53.8 | N/A | -82.6% |
| Others | 35.0 | 31.1 | 64.6 | 112 | 47.4% |
| Total | 2,310 | 365 | 249 | 419 | -43.4% |
Top Export Markets for Butter and Other Fats and Oils Derived from Milk from the Dominican Republic in 2022:
- United States (76.8 tons)
- Colombia (2.1 tons)
- Spain (1.6 tons)
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