Dominican Republic - Soybean Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingSoybean Oil Price in the Dominican Republic - 2023
Contents:
- Soybean Oil Price in the Dominican Republic (CIF) - 2023
- Soybean Oil Price in the Dominican Republic (FOB) - 2023
- Soybean Oil Imports in the Dominican Republic
- Soybean Oil Exports in the Dominican Republic
Soybean Oil Price in the Dominican Republic (CIF) - 2023
The average soybean oil import price stood at $1,316 per ton in March 2023, declining by -5.8% against the previous month. In general, the import price saw a pronounced shrinkage. The pace of growth appeared the most rapid in June 2022 when the average import price increased by 31% month-to-month. As a result, import price attained the peak level of $2,524 per ton. From July 2022 to March 2023, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Guatemala ($2,103 per ton), while the price for Argentina stood at $1,291 per ton.
From March 2022 to March 2023, the most notable rate of growth in terms of prices was attained by Guatemala (-0.4%), while the prices for the other major suppliers experienced a decline.
Soybean Oil Price in the Dominican Republic (FOB) - 2023
In March 2023, the average soybean oil export price amounted to $2,409 per ton, waning by -2.1% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.3%. The pace of growth was the most pronounced in April 2022 when the average export price increased by 17% m-o-m. The export price peaked at $2,664 per ton in November 2022; however, from December 2022 to March 2023, the export prices remained at a lower figure.
Average prices varied noticeably for the major export markets. In March 2023, the country with the highest price was Cuba ($2,515 per ton), while the average price for exports to Haiti stood at $2,362 per ton.
From March 2022 to March 2023, the most notable rate of growth in terms of prices was recorded for supplies to Cuba (+1.6%).
Soybean Oil Imports in the Dominican Republic
In 2022, imports of soybean oil into the Dominican Republic skyrocketed to 192K tons, increasing by 20% against the previous year's figure. The total import volume increased at an average annual rate of +2.4% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, soybean oil imports skyrocketed to $316M in 2022. Overall, imports continue to indicate a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
Import of Soybean Oil in the Dominican Republic (Million USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Argentina | 36.9 | 13.5 | 136 | 231 | 84.3% |
United States | 92.0 | 129 | 66.2 | 62.1 | -12.3% |
Bolivia | 0.2 | N/A | 6.5 | 21.1 | 372.5% |
Others | 0.3 | 1.6 | 4.3 | 2.2 | 94.3% |
Total | 129 | 144 | 213 | 316 | 34.8% |
Top Suppliers of Soybean Oil to the Dominican Republic in 2022:
- Argentina (137.3K tons)
- United States (42.4K tons)
- Bolivia (11.4K tons)
Soybean Oil Exports in the Dominican Republic
For the fourth year in a row, the Dominican Republic recorded growth in overseas shipments of soybean oil, which increased by 26% to 25K tons in 2022. Overall, total exports indicated a significant expansion from 2019 to 2022: its volume increased at an average annual rate of +21.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +81.1% against 2019 indices. The pace of growth was the most pronounced in 2021 when exports increased by 34% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.
In value terms, soybean oil exports surged to $60M in 2022. Over the period under review, exports continue to indicate a significant increase. The growth pace was the most rapid in 2021 when exports increased by 84%. The exports peaked in 2022 and are expected to retain growth in years to come.
Export of Soybean Oil in the Dominican Republic (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Haiti | 5.5 | 16.1 | 30.8 | 52.7 | 112.4% |
Cuba | 6.8 | 2.1 | 3.8 | 4.2 | -14.8% |
United States | 1.0 | 1.3 | 0.9 | 2.2 | 30.1% |
Others | 0.5 | 0.3 | 0.9 | 1.4 | 40.9% |
Total | 13.9 | 19.8 | 36.4 | 60.4 | 63.2% |
Top Export Markets for Soybean Oil from the Dominican Republic in 2022:
- Haiti (21.7K tons)
- Cuba (2.0K tons)
- United States (0.5K tons)
This report provides an in-depth analysis of the soybean 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 237 - Oil of Soybeans
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
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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
This report provides an in-depth analysis of the soybean oil market in the Dominican Republic.
This report provides an in-depth analysis of the crude soybean oil market in the Dominican Republic.
This report provides an in-depth analysis of the refined soybean oil market in the Dominican Republic.
This report provides an in-depth analysis of the global soybean oil market.
Global Soybean Oil Market Report 2019. This report provides an in-depth analysis of the global soybean oil market.
This report provides an in-depth analysis of the global crude soybean oil market.
This report provides an in-depth analysis of the global refined soybean oil market.
This report provides an in-depth analysis of the soybean oil market in the Dominican Republic.
This report provides an in-depth analysis of the crude soybean oil market in the Dominican Republic.
This report provides an in-depth analysis of the refined soybean oil market in the Dominican Republic.
In 2022, soybean oil prices are forecast to rise by nearly 4% to $1,425 per ton, driven by boosting demand for biofuels. In 2021, the average annual soybean oil price skyrocketed, rising 65% y-o-y to $1,385 per ton. India remains the world’s largest soybean oil importer, while Argentina holds the position of the leading global supplier.
The soybean oil market indicates steady growth, despite the COVID-19 pandemic cut demand for biofuel. The competitive price of soybean oil, against the price for sunflower and palm oil, combined with the potential growth in demand for biofuels and increasingly robust environmental standards, signal tangible prospects for the further development of the soybean oil market.
Global soybean oil consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
Global soybean oil exports amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
Global soybean oil imports amounted to X thousand tons in 2015, jumping by +X% against the previous year level.
In 2015, the countries with the highest levels of production were China (X thousand tons), the United States (X thousand tons), Brazil (X thousand tons), together accounting for X% of total output.
Argentina leads the way in the global soya-bean oil trade. In 2014, Argentina exported X thousand tons of soya-bean oil totaling X million USD, X% under the previous year. Its primary trading partner was India, where it supplied X% of its t
Explore the top import markets for crude soybean oil in 2023, including key statistics and import values. Learn about the leading countries driving the global soybean oil market.
In 2022, soybean oil prices are forecast to rise by nearly 4% to $1,425 per ton, driven by boosting demand for biofuels. In 2021, the average annual soybean oil price skyrocketed, rising 65% y-o-y to $1,385 per ton. India remains the world’s largest soybean oil importer, while Argentina holds the position of the leading global supplier.
The soybean oil market indicates steady growth, despite the COVID-19 pandemic cut demand for biofuel. The competitive price of soybean oil, against the price for sunflower and palm oil, combined with the potential growth in demand for biofuels and increasingly robust environmental standards, signal tangible prospects for the further development of the soybean oil market.