Milled Rice Price in Sri Lanka - 2021
Contents:
- Milled Rice Price in Sri Lanka (CIF) - 2022
- Milled Rice Price in Sri Lanka (FOB) - 2022
- Milled Rice Imports in Sri Lanka
- Milled Rice Exports in Sri Lanka
Milled Rice Price in Sri Lanka (CIF) - 2022
The average milled rice import price stood at $349 per ton in 2022, shrinking by -35% against the previous year. In general, the import price recorded a deep slump. The most prominent rate of growth was recorded in 2020 an increase of 25% against the previous year. Over the period under review, average import prices reached the maximum at $736 per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Pakistan ($478 per ton), while the price for India ($345 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+68.8%), while the prices for the other major suppliers experienced a decline.
Milled Rice Price in Sri Lanka (FOB) - 2022
In 2022, the average milled rice export price amounted to $1,001 per ton, declining by -7.9% against the previous year. Overall, export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, milled rice export price increased by +8.9% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by 35%. The export price peaked at $1,087 per ton in 2021, and then fell in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($1,370 per ton), while the average price for exports to India ($274 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 United Arab Emirates (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.
Milled Rice Imports in Sri Lanka
In 2022, approx. 810K tons of semi-milled or wholly milled (bleached) rice were imported into Sri Lanka; rising by 451% compared with the previous year. Overall, imports recorded significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 834% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.
In value terms, milled rice imports skyrocketed to $283M in 2022. In general, imports enjoyed a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 658% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.
| Import of Milled Rice in Sri Lanka (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 2.9 | 3.4 | 69.0 | 261 | 348.1% |
| China | 0.1 | 0.1 | 0.1 | 14.2 | 421.7% |
| Pakistan | 9.2 | 6.8 | 10.0 | 5.8 | -14.3% |
| Others | 0.5 | 0.2 | 0.1 | 1.9 | 56.0% |
| Total | 12.7 | 10.4 | 79.1 | 283 | 181.4% |
Top Suppliers of Milled Rice to Sri Lanka in 2022:
- India (756.6K tons)
- China (37.2K tons)
- Pakistan (12.2K tons)
Milled Rice Exports in Sri Lanka
In 2022, overseas shipments of semi-milled or wholly milled (bleached) rice decreased by -19.5% to 4.8K tons, falling for the second consecutive year after two years of growth. In general, total exports indicated tangible growth from 2019 to 2022: its volume increased at an average annual rate of +4.4% 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 decreased by -39.3% against 2020 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 87% against the previous year. As a result, the exports attained the peak of 7.9K tons. From 2021 to 2022, the growth of the exports remained at a lower figure.
In value terms, milled rice exports shrank dramatically to $4.8M in 2022. Overall, total exports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +6.5% 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 decreased by -33.9% against 2020 indices. The pace of growth was the most pronounced in 2020 when exports increased by 83%. As a result, the exports reached the peak of $7.2M. From 2021 to 2022, the growth of the exports failed to regain momentum.
| Export of Milled Rice in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 969 | 1,436 | 1,304 | 844 | -4.5% |
| Canada | 353 | 868 | 758 | 711 | 26.3% |
| Australia | 623 | 757 | 621 | 520 | -5.8% |
| Netherlands | 11.4 | 147 | 273 | 509 | 254.8% |
| United Kingdom | 485 | 842 | 536 | 404 | -5.9% |
| Italy | 240 | 460 | 427 | 376 | 16.1% |
| United States | 304 | 363 | 385 | 253 | -5.9% |
| Germany | 148 | 936 | 366 | 241 | 17.6% |
| France | 85.1 | 166 | 312 | 177 | 27.6% |
| Switzerland | 130 | 410 | 274 | 144 | 3.5% |
| Maldives | 166 | 108 | 204 | 108 | -13.3% |
| Qatar | 140 | 202 | 161 | 98.1 | -11.2% |
| India | N/A | 0.1 | N/A | 92.7 | 2944.7% |
| Others | 305 | 545 | 836 | 309 | 0.4% |
| Total | 3,960 | 7,241 | 6,457 | 4,786 | 6.5% |
Top Export Markets for Milled Rice from Sri Lanka in 2022:
- United Arab Emirates (1038.7 tons)
- Canada (638.6 tons)
- Netherlands (468.1 tons)
- Australia (463.0 tons)
- United Kingdom (364.6 tons)
- India (338.0 tons)
- Italy (274.5 tons)
- United States (226.6 tons)
- Germany (214.8 tons)
- France (171.1 tons)
- Switzerland (120.0 tons)
- Maldives (104.0 tons)
- Qatar (82.8 tons)
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