Sri Lanka - Bananas - Market Analysis, Forecast, Size, Trends And Insights
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View PricingBanana Price in Sri Lanka - 2022
Contents:
- Banana Price in Sri Lanka (FOB) - 2022
- Banana Price in Sri Lanka (CIF) - 2022
- Banana Exports in Sri Lanka
- Banana Imports in Sri Lanka
Banana Price in Sri Lanka (FOB) - 2022
The average banana export price stood at $1,588 per ton in 2022, leveling off at the previous year. In general, export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, banana export price increased by +57.2% against 2016 indices. The pace of growth appeared the most rapid in 2019 when the average export price increased by 31%. The export price peaked at $1,607 per ton in 2021, and then declined slightly in the following year.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($3,141 per ton), while the average price for exports to the United Arab Emirates ($448 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 the Netherlands (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.
Banana Price in Sri Lanka (CIF) - 2022
In 2022, the average banana import price amounted to $7,200 per ton, increasing by 1,803% against the previous year. Over the period under review, the import price showed significant growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($33,000 per ton), while the price for India amounted to $750 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (-1.8%).
Banana Exports in Sri Lanka
In 2022, banana exports from Sri Lanka fell remarkably to 742 tons, shrinking by -82.2% against the previous year. Overall, exports faced a dramatic curtailment. The growth pace was the most rapid in 2021 with an increase of 61% against the previous year.
In value terms, banana exports shrank dramatically to $1.2M in 2022. In general, exports continue to indicate a dramatic contraction. The pace of growth was the most pronounced in 2021 when exports increased by 86% against the previous year.
| Export of Banana in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 758 | 609 | 1,905 | 301 | -26.5% |
| Netherlands | 385 | 241 | 474 | 173 | -23.4% |
| United Kingdom | 154 | 97.1 | 97.3 | 141 | -2.9% |
| United Arab Emirates | 787 | 227 | 287 | 121 | -46.4% |
| United States | 1,247 | 544 | 1,046 | 86.9 | -58.8% |
| France | 313 | 242 | 413 | 79.9 | -36.6% |
| Maldives | 673 | 183 | 141 | 56.5 | -56.2% |
| New Zealand | 260 | 138 | 312 | 48.6 | -42.8% |
| Saudi Arabia | 297 | 109 | 157 | 34.4 | -51.3% |
| Switzerland | 1,245 | 595 | 558 | 4.8 | -84.3% |
| Qatar | 265 | 154 | 186 | 4.3 | -74.7% |
| Kuwait | 209 | 24.5 | 36.2 | N/A | -58.4% |
| Others | 906 | 450 | 1,102 | 126 | -48.2% |
| Total | 7,499 | 3,614 | 6,716 | 1,178 | -46.0% |
Top Export Markets for Banana from Sri Lanka in 2022:
- United Arab Emirates (270.2 tons)
- Germany (95.9 tons)
- Netherlands (85.4 tons)
- United Kingdom (60.0 tons)
- Maldives (54.3 tons)
- United States (42.1 tons)
- New Zealand (36.0 tons)
- France (22.4 tons)
- Saudi Arabia (19.3 tons)
- Qatar (3.3 tons)
- Switzerland (1.1 tons)
Banana Imports in Sri Lanka
Banana imports into Sri Lanka dropped rapidly to 5 kg in 2022, waning by -95.5% compared with the year before. In general, imports saw a precipitous setback. The most prominent rate of growth was recorded in 2021 with an increase of 178%. As a result, imports attained the peak of 111 kg, and then fell rapidly in the following year.
In value terms, banana imports contracted to $36 in 2022. Overall, imports faced a dramatic decline. The pace of growth was the most pronounced in 2021 when imports increased by 180% against the previous year.
| Import of Banana in Sri Lanka (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | N/A | N/A | N/A | 33.0 | 0% |
| India | 70.0 | 13.0 | 12.0 | 3.0 | -65.0% |
| Vietnam | N/A | N/A | 8.0 | N/A | 0% |
| Netherlands | N/A | N/A | 8.0 | N/A | 0% |
| Ukraine | 15.0 | N/A | 14.0 | N/A | -3.4% |
| Brazil | N/A | 2.0 | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 85.0 | 15.0 | 42.0 | 36.0 | -24.9% |
Top Suppliers of Banana to Sri Lanka in 2022:
- India (4.0 kg)
- Spain (1.0 kg)
This report provides an in-depth analysis of the banana market in Sri Lanka. 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 486 - Bananas
Country coverage:
- Sri Lanka
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Sri Lanka
- 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
-
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
- COUNTRIES WITH TOP YIELDS
- 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, HARVESTED AREA AND YIELD
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
- Yield 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
- Area Harvested, 2012–2023
- Yield, 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
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