Dominican Republic: Phosphatic Fertilizer Market 2024

Phosphatic Fertilizer Market Size in the Dominican Republic

In 2022, the Dominican phosphatic fertilizer market decreased by X% to $X for the first time since 2017, thus ending a four-year rising trend. Overall, the total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2015 indices. Over the period under review, the market reached the peak level at $X in 2021, and then shrank modestly in the following year.

Phosphatic Fertilizer Production in the Dominican Republic

In value terms, phosphatic fertilizer production rose slightly to $X in 2022 estimated in export price. In general, production showed significant growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Phosphatic Fertilizer Exports

Exports from the Dominican Republic

In 2022, overseas shipments of phosphatic fertilizers decreased by X% to X tons, falling for the second consecutive year after four years of growth. In general, exports saw a precipitous decline. The growth pace was the most rapid in 2015 with an increase of X%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, phosphatic fertilizer exports declined remarkably to $X in 2022. Over the period under review, exports recorded a sharp slump. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons), Saint Lucia (X tons) and Trinidad and Tobago (X tons) were the main destinations of phosphatic fertilizer exports from the Dominican Republic, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, the United States ($X), Trinidad and Tobago ($X) and Saint Lucia ($X) were the largest markets for phosphatic fertilizer exported from the Dominican Republic worldwide, with a combined X% share of total exports.

In terms of the main countries of destination, Trinidad and Tobago, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average phosphatic fertilizer export price stood at $X per ton in 2022, rising by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Trinidad and Tobago ($X per ton), while the average price for exports to Saint Lucia ($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 Trinidad and Tobago (X%), while the prices for the other major destinations experienced mixed trend patterns.

Phosphatic Fertilizer Imports

Imports into the Dominican Republic

In 2022, overseas purchases of phosphatic fertilizers decreased by X% to X tons, falling for the third year in a row after two years of growth. In general, imports recorded a precipitous curtailment. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, phosphatic fertilizer imports declined dramatically to $X in 2022. Over the period under review, imports recorded a dramatic downturn. The most prominent rate of growth was recorded in 2016 with an increase of X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Morocco (X tons) constituted the largest supplier of phosphatic fertilizer to the Dominican Republic, with a X% share of total imports. Moreover, phosphatic fertilizer imports from Morocco exceeded the figures recorded by the second-largest supplier, Argentina (X tons), fourfold. The third position in this ranking was taken by the United States (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Morocco stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (X% per year) and the United States (X% per year).

In value terms, Morocco ($X), Argentina ($X) and Brazil ($X) constituted the largest phosphatic fertilizer suppliers to the Dominican Republic, together accounting for X% of total imports.

In terms of the main suppliers, Argentina, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average phosphatic fertilizer import price amounted to $X per ton, picking up by X% against the previous year. Overall, the import price enjoyed strong growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for Morocco ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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