Sri Lanka: Concentrated Grapefruit Juice Market 2022

Concentrated Grapefruit Juice Market Size in Sri Lanka

The Sri Lankan concentrated grapefruit juice market amounted to $X in 2021, almost unchanged from the previous year. Overall, consumption posted a prominent expansion. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Concentrated Grapefruit Juice Production in Sri Lanka

In value terms, concentrated grapefruit juice production totaled $X in 2021 estimated in export price. Overall, the total production indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -0.3% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 22% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Concentrated Grapefruit Juice Exports

Exports from Sri Lanka

Concentrated grapefruit juice exports from Sri Lanka shrank to X tons in 2021, dropping by -10% against 2020. Overall, exports showed a deep contraction. The pace of growth appeared the most rapid in 2020 when exports increased by 977%. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, concentrated grapefruit juice exports fell modestly to $X in 2021. Over the period under review, exports showed a abrupt setback. The pace of growth was the most pronounced in 2020 with an increase of 961%. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

India (X tons) was the main destination for concentrated grapefruit juice exports from Sri Lanka, with a 79% share of total exports. Moreover, concentrated grapefruit juice exports to India exceeded the volume sent to the second major destination, Maldives (X kg), fourfold.

From 2012 to 2021, the average annual growth rate of volume to India totaled -15.1%.

In value terms, Maldives ($X) and India ($X) constituted the largest markets for concentrated grapefruit juice exported from Sri Lanka worldwide.

India, with a CAGR of -5.6%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

In 2021, the average concentrated grapefruit juice export price amounted to $X per ton, rising by 7% against the previous year. Over the period under review, export price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the average export price increased by 29%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Maldives ($X per ton), while the average price for exports to India amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+11.2%).

Concentrated Grapefruit Juice Imports

Imports into Sri Lanka

Concentrated grapefruit juice imports into Sri Lanka stood at X tons in 2021, picking up by 1.9% on the previous year. Over the period under review, imports enjoyed a strong increase. The pace of growth appeared the most rapid in 2014 with an increase of 584% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, concentrated grapefruit juice imports soared to $X in 2021. In general, imports recorded significant growth. The pace of growth appeared the most rapid in 2014 when imports increased by 855% against the previous year. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Thailand (X tons) constituted the largest supplier of concentrated grapefruit juice to Sri Lanka, accounting for a 65% share of total imports. Moreover, concentrated grapefruit juice imports from Thailand exceeded the figures recorded by the second-largest supplier, Spain (X tons), threefold. Malaysia (X kg) ranked third in terms of total imports with a 6.3% share.

From 2012 to 2021, the average annual growth rate of volume from Thailand totaled +43.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+23.8% per year) and Malaysia (+2.2% per year).

In value terms, Thailand ($X) constituted the largest supplier of concentrated grapefruit juice to Sri Lanka, comprising 79% of total imports. The second position in the ranking was held by Malaysia ($X), with a 6.5% share of total imports. It was followed by Spain, with a 6.2% share.

From 2012 to 2021, the average annual growth rate of value from Thailand totaled +70.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+7.4% per year) and Spain (+13.1% per year).

Import Prices by Country

The average concentrated grapefruit juice import price stood at $X per ton in 2021, jumping by 19% against the previous year. Over the period under review, import price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, concentrated grapefruit juice import price increased by +20.0% against 2019 indices. The most prominent rate of growth was recorded in 2014 an increase of 40%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Thailand ($X per ton), while the price for Cyprus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+19.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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