Sri Lanka - Rum - Market Analysis, Forecast, Size, Trends And Insights
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View PricingRum Price in Sri Lanka - 2021
Contents:
- Rum Price in Sri Lanka (CIF) - 2022
- Rum Price in Sri Lanka (FOB) - 2022
- Rum Imports in Sri Lanka
- Rum Exports in Sri Lanka
Rum Price in Sri Lanka (CIF) - 2022
In 2022, the average rum import price amounted to $7.4 per litre, with an increase of 47% against the previous year. In general, the import price recorded slight 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 Jamaica ($22 per litre), while the price for Italy ($4.2 per litre) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jamaica (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Rum Price in Sri Lanka (FOB) - 2022
In 2022, the average rum export price amounted to $7 per litre, with an increase of 26% against the previous year. Over the period under review, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, rum export price increased by +135.4% against 2018 indices. The most prominent rate of growth was recorded in 2020 an increase of 48%. The export price peaked at $7.1 per litre in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($8.7 per litre), while the average price for exports to the Netherlands ($3.3 per litre) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+4.9%), while the prices for the other major destinations experienced more modest paces of growth.
Rum Imports in Sri Lanka
In 2022, purchases abroad of rum was finally on the rise to reach 76K litres for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, continue to indicate a dramatic descent. Over the period under review, imports hit record highs at 171K litres in 2019; however, from 2020 to 2022, imports remained at a lower figure.
In value terms, rum imports skyrocketed to $561K in 2022. Overall, imports, however, faced a deep contraction. Imports peaked at $1M in 2019; however, from 2020 to 2022, imports remained at a lower figure.
| Import of Rum in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 52.8 | 29.3 | 61.3 | 192 | 53.8% |
| United States | 493 | 187 | 57.6 | 157 | -31.7% |
| United Kingdom | 162 | 125 | 34.3 | 86.2 | -19.0% |
| Jamaica | 0.1 | 0.1 | 0.1 | 30.0 | 569.4% |
| Germany | 48.3 | 9.4 | 12.9 | 20.6 | -24.7% |
| Italy | 65.8 | 71.5 | 14.8 | 17.0 | -36.3% |
| Mexico | 31.0 | 13.5 | 28.1 | 11.1 | -29.0% |
| France | 29.8 | 5.2 | 2.6 | 9.4 | -31.9% |
| Singapore | 54.1 | 0.7 | 0.6 | N/A | -89.5% |
| Others | 74.3 | 94.2 | 54.7 | 37.9 | -20.1% |
| Total | 1,011 | 536 | 267 | 561 | -17.8% |
Top Suppliers of Rum to Sri Lanka in 2022:
- India (32.3K litres)
- United States (15.7K litres)
- United Kingdom (13.7K litres)
- Italy (4.0K litres)
- Germany (2.6K litres)
- Mexico (1.7K litres)
- Jamaica (1.4K litres)
- France (1.3K litres)
Rum Exports in Sri Lanka
In 2022, approx. 31K litres of rum were exported from Sri Lanka; with an increase of 25% against the previous year's figure. Overall, exports saw a significant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 499%. As a result, the exports attained the peak of 67K litres. From 2021 to 2022, the growth of the exports remained at a lower figure.
In value terms, rum exports soared to $219K in 2022. In general, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 787% against the previous year. As a result, the exports attained the peak of $405K. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
| Export of Rum in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 29.5 | 268 | 63.7 | 151 | 72.3% |
| Maldives | 6.3 | 9.3 | 14.8 | 25.4 | 59.2% |
| Ukraine | N/A | 4.5 | 6.3 | 13.3 | 71.9% |
| Italy | 0.4 | 5.2 | 2.9 | 10.4 | 196.2% |
| Netherlands | 0.5 | 4.0 | 0.8 | 4.5 | 108.0% |
| Fiji | N/A | N/A | N/A | 3.4 | 0% |
| Singapore | 0.9 | 17.3 | 9.5 | 3.0 | 49.4% |
| India | 3.2 | 34.0 | 11.8 | 0.1 | -68.5% |
| United Kingdom | 4.0 | 56.7 | 26.8 | N/A | 158.8% |
| Others | 0.9 | 6.6 | 3.4 | 8.0 | 107.1% |
| Total | 45.7 | 405 | 140 | 219 | 68.6% |
Top Export Markets for Rum from Sri Lanka in 2022:
- India (undefinedK litres)
- United Arab Emirates (17.3K litres)
- Maldives (6.1K litres)
- Ukraine (2.4K litres)
- Italy (1.6K litres)
- Netherlands (1.4K litres)
- Singapore (0.6K litres)
- Fiji (0.5K litres)
This report provides an in-depth analysis of the rum 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:
- Prodcom 11011040 - Rum and other spirits obtained by distilling fermented sugarcane products (important: excluding alcohol duty)
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
- 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
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