Sri Lanka: Market for Coconut, Abaca, Ramie and other Vegetable Textile Fibres 2024

Market Size for Coconut, Abaca, Ramie and other Vegetable Textile Fibres in Sri Lanka

After two years of decline, the Sri Lankan market for coconut, abaca, ramie and other vegetable textile fibres increased by X% to $X in 2022. Over the period under review, consumption, however, continues to indicate a abrupt setback. Consumption of peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Coconut, Abaca, Ramie and other Vegetable Textile Fibres in Sri Lanka

In value terms, production of coconut, abaca, ramie and other vegetable textile fibres fell slightly to $X in 2022 estimated in export price. Overall, the total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2016 with an increase of X%. Production of peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

The average yield of coconut, abaca, ramie and other vegetable textile fibres in Sri Lanka contracted modestly to X tons per ha in 2022, remaining relatively unchanged against the previous year. Overall, the yield continues to indicate a noticeable decline. The growth pace was the most rapid in 2019 when the yield increased by X%. Over the period under review, the average yield of coconut, abaca, ramie and other vegetable textile fibres attained the peak level at X tons per ha in 2012; however, from 2013 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of coconut, abaca, ramie and other vegetable textile fibres were harvested in Sri Lanka; with a decrease of X% compared with 2021 figures. In general, the total harvested area indicated a tangible expansion from 2012 to 2022: its figure increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, harvested area of coconut, abaca, ramie and other vegetable textile fibres increased by X% against 2013 indices. The pace of growth was the most pronounced in 2016 when the harvested area increased by X% against the previous year. Over the period under review, the harvested area dedicated to coconut, abaca, ramie and other vegetable textile fibre production reached the maximum at X ha in 2021, and then reduced slightly in the following year.

Exports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Exports from Sri Lanka

After three years of growth, shipments abroad of coconut, abaca, ramie and other vegetable textile fibres decreased by X% to X tons in 2022. Over the period under review, exports, however, continue to indicate pronounced growth. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports reached the peak of X tons, and then fell in the following year.

In value terms, exports of coconut, abaca, ramie and other vegetable textile fibres fell to $X in 2022. Overall, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then dropped in the following year.

Exports by Country

China (X tons), Japan (X tons) and Mexico (X tons) were the main destinations of exports of coconut, abaca, ramie and other vegetable textile fibres from Sri Lanka, with a combined X% share of total exports. The United States, the Netherlands, South Korea, Canada, Morocco, the UK, Turkey, Peru, France and Australia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Peru (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for coconut, abaca, ramie and other vegetable textile fibre exported from Sri Lanka were China ($X), Mexico ($X) and the Netherlands ($X), together accounting for X% of total exports. Japan, the United States, South Korea, Canada, Morocco, the UK, Peru, Australia, France and Turkey lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Peru, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for coconut, abaca, ramie and other vegetable textile fibres amounted to $X per ton, remaining constant against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to China ($X 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 South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Imports into Sri Lanka

After two years of growth, supplies from abroad of coconut, abaca, ramie and other vegetable textile fibres decreased by X% to X kg in 2022. In general, imports continue to indicate a precipitous descent. The pace of growth appeared the most rapid in 2015 with an increase of X%. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of coconut, abaca, ramie and other vegetable textile fibres declined markedly to $X in 2022. Overall, imports recorded a dramatic decrease. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

Spain (X kg), Australia (X kg) and India (X kg) were the main suppliers of imports of coconut, abaca, ramie and other vegetable textile fibres to Sri Lanka, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) constituted the largest supplier of coconut, abaca, ramie and other vegetable textile fibres to Sri Lanka, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

The average import price for coconut, abaca, ramie and other vegetable textile fibres stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for coconut, abaca, ramie and other vegetable textile fibres decreased by X% against 2020 indices. Over the period under review, average import prices hit record highs at $X per ton in 2020; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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