Shrimp Price in the Dominican Republic - 2023
Contents:
- Shrimp Price in the Dominican Republic (CIF) - 2023
- Shrimp Price in the Dominican Republic (FOB) - 2022
- Shrimp Imports in the Dominican Republic
- Shrimp Exports in the Dominican Republic
Shrimp Price in the Dominican Republic (CIF) - 2023
The average shrimp import price stood at $7,031 per ton in March 2023, rising by 18% against the previous month. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in August 2022 when the average import price increased by 23% m-o-m. The import price peaked at $8,663 per ton in April 2022; however, from May 2022 to March 2023, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In March 2023, the country with the highest price was Ecuador ($7,818 per ton), while the price for India amounted to $6,330 per ton.
From March 2022 to March 2023, the most notable rate of growth in terms of prices was attained by the United States (+0.2%), while the prices for the other major suppliers experienced a decline.
Shrimp Price in the Dominican Republic (FOB) - 2022
The average shrimp export price stood at $9,243 per ton in 2022, stabilizing at the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 42%. As a result, the export price reached the peak level of $12,509 per ton. From 2014 to 2022, the average export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($19,461 per ton), while the average price for exports to the United States ($4,413 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 Italy (+33.7%), while the prices for the other major destinations experienced more modest paces of growth.
Shrimp Imports in the Dominican Republic
In 2022, shrimp imports into the Dominican Republic amounted to 2.2K tons, growing by 1.6% against the previous year's figure. In general, imports enjoyed a significant increase. The pace of growth was the most pronounced in 2021 when imports increased by 64%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.
In value terms, shrimp imports totaled $14M in 2022. Over the period under review, imports posted a significant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 74% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Shrimp in the Dominican Republic (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 5.2 | 6.2 | 9.9 | 10.0 | 24.4% |
| Indonesia | 0.4 | 0.3 | 1.0 | 1.0 | 35.7% |
| United States | 0.3 | 0.1 | 0.7 | 0.8 | 38.7% |
| Ecuador | N/A | 0.4 | 0.8 | 0.8 | 41.4% |
| Vietnam | 0.1 | 0.4 | 0.4 | 0.4 | 58.7% |
| Argentina | 0.5 | 0.2 | 0.4 | 0.4 | -7.2% |
| Germany | 0.4 | 0.1 | 0.2 | 0.2 | -20.6% |
| Others | 0.3 | 0.1 | 0.2 | 0.1 | -30.7% |
| Total | 7.2 | 7.8 | 13.7 | 13.7 | 23.9% |
Top Suppliers of Shrimp to the Dominican Republic in 2022:
- India (1763.0 tons)
- United States (153.0 tons)
- Ecuador (99.4 tons)
- Indonesia (98.9 tons)
- Vietnam (44.8 tons)
- Argentina (42.9 tons)
- Germany (25.7 tons)
Shrimp Exports in the Dominican Republic
In 2022, the amount of shrimps exported from the Dominican Republic soared to 19 tons, jumping by 17% compared with the year before. Over the period under review, total exports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +7.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -16.1% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 47% against the previous year. As a result, the exports attained the peak of 22 tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, shrimp exports soared to $172K in 2022. In general, total exports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +21.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +78.8% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 54% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.
| Export of Shrimp in the Dominican Republic (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | 46.6 | 27.8 | 79.5 | 98.6 | 28.4% |
| United States | 7.9 | 26.4 | 43.4 | 54.5 | 90.4% |
| France | 4.9 | 13.8 | 9.1 | 11.3 | 32.1% |
| India | 24.8 | 69.7 | N/A | N/A | 181.0% |
| Italy | 5.4 | 1.8 | N/A | N/A | -66.7% |
| Others | 6.3 | 8.0 | 16.6 | 7.3 | 5.0% |
| Total | 96.0 | 147 | 149 | 172 | 21.5% |
Top Export Markets for Shrimp from the Dominican Republic in 2022:
- United States (12.4 tons)
- Spain (5.1 tons)
- France (0.7 tons)
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