Palm kernel or babassu oil and fractions market in Dominican Republic

Earlier Report Observations

From 2018 to 2021, the market volume for palm kernel oil in the Dominican Republic grew consistently, rising from 8 478 tons to 11 366 tons. This expansion was fueled by increasing global consumption of palm oil, which bolstered demand for its derivatives. The surge in market size in 2021, when imports nearly doubled to 2 866 tons, reflected robust international market conditions and heightened demand from processed food and biofuel sectors worldwide.

After peaking in 2021, the market experienced a contraction to 10 228 tons in 2022, primarily due to a sharp drop in imports as international palm oil prices rose. The subsequent recovery to 10 788 tons in 2023 coincided with stabilized domestic production around 9 000 tons and renewed import growth. Global factors such as price volatility and climatic events like El Niño influenced supply patterns, contributing to these fluctuations.

Production palm kernel or babassu oil and fractions in Dominican Republic

In kind, 2017-2020, t

The Dominican Republic was among the world's leading producers of palm kernel or babassu oil and fractions from 2017 to 2020, ranking 25th globally by production volume.

Top producers of palm kernel or babassu oil and fractions, 2017-2020

World map of production of palm kernel or babassu oil and fractions, 2017-2020

The Dominican Republic's production of palm kernel or babassu oil and fractions increased for the second consecutive year. In 2020, the country produced 8 000 tonnes, which is 6.7% higher than in 2019. Over the 2017-2020 period, production grew by 14.3%, with a compound annual growth rate of 4.6%. The largest decline occurred in 2018, at 0.0%, while the largest increase was in 2019, at 7.1%.

Annual dynamics of production in Dominican Republic in kind, 2017-2020, t

Exports palm kernel or babassu oil and fractions from Dominican Republic

Exports in kind, t

Market performance showed noticeable fluctuations during this period. The minimum export volume was recorded in 2019 at 0.0 tonnes, marking a 31.7% decrease from the previous year. The maximum was in 2018 at 0.0 tonnes, resulting in a 1.5-fold variation between these two years. The largest increase occurred in 2018, at 34.6%.

Annual dynamics of product's exports from Dominican Republic in kind, 2017-2020, t

From 2017 to 2020, the main destinations for exports in kind were Haiti, accounting for 41.2% of exports, Turks and Caicos Islands at 30.6%, and Guatemala at 27.0%. Together, these three countries represented 98.8% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Dominican Republic in kind, 2017-2020

Exports in value, K $ US

The Dominican Republic's export value of palm kernel or babassu oil and fractions increased for the second consecutive year. In 2019, exports reached 1 000 US dollars, an 89.1% rise compared to the previous year. Between 2017 and 2019, exports surged by 628%, equivalent to an annualized rate of 93.8%.

Annual dynamics of product's exports from Dominican Republic in value, 2017-2020, K $ US

Throughout 2017-2020, Guatemala and Haiti were the primary buyers of palm kernel or babassu oil and fractions from the Dominican Republic in value terms, together accounting for 91.7% of total exports, with other countries making up the remainder.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Dominican Republic in value, 2017-2020

Imports palm kernel or babassu oil and fractions to Dominican Republic

Imports in kind, t

In 2020, the Dominican Republic imported 1 428 tonnes of palm kernel or babassu oil and fractions, a solid contraction of 11.3% compared to 2019. The maximum import volume was recorded in 2019 at 1 611 tonnes. Over the 2017-2020 period, imports decreased by 8.3%, equating to an annualized rate of 2.8%. The largest increase occurred in 2019, at 9.0%.

Annual dynamics of product's imports to Dominican Republic in kind, 2017-2020, t

From 2017 to 2020, two countries—Guatemala and Colombia—concentrated most of the imports in kind of palm kernel or babassu oil and fractions to the Dominican Republic, while other markets were individually less significant.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Dominican Republic in kind, 2017-2020

Imports in value, K $ US

After a two-year decline, imports of palm kernel or babassu oil and fractions to the Dominican Republic increased. In 2020, the import value was recorded at 1 190 000 US dollars, a small rise of 2.1% compared to the previous year. The minimum value was in 2019 at 1 165 000 US dollars. Between 2017 and 2020, imports fell by 45.2%, equivalent to an annualized rate of 18.1%. The largest decline occurred in 2018, at 27.2%.

Annual dynamics of product's imports to Dominican Republic in value, 2017-2020, K $ US

Throughout 2017-2020, Guatemala and Colombia clearly dominated imports in value terms of palm kernel or babassu oil and fractions to the Dominican Republic, jointly accounting for 83.3% of total flows, with other countries holding much smaller shares.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Dominican Republic in value, 2017-2020