Sri Lanka: Dairy Produce Market 2024

Dairy Produce Market Size in Sri Lanka

In 2022, the Sri Lankan dairy produce market decreased by X% to $X for the first time since 2014, thus ending a seven-year rising trend. Over the period under review, the total consumption indicated a measured expansion 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. Over the period under review, the market reached the maximum level at $X in 2021, and then contracted in the following year.

Dairy Produce Production in Sri Lanka

In value terms, dairy produce production declined modestly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate resilient growth. The growth pace was the most rapid in 2015 with an increase of X%. Dairy produce production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Dairy Produce Exports

Exports from Sri Lanka

In 2022, approx. X tons of dairy produce were exported from Sri Lanka; increasing by X% on 2021. Overall, exports continue to indicate a strong increase. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, dairy produce exports skyrocketed to $X in 2022. In general, exports posted a remarkable increase. The pace of growth appeared the most rapid in 2019 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Maldives (X tons) was the main destination for dairy produce exports from Sri Lanka, accounting for a X% share of total exports. Moreover, dairy produce exports to Maldives exceeded the volume sent to the second major destination, Mauritius (X tons), sevenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Maldives amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mauritius (X% per year) and the United States (X% per year).

In value terms, Maldives ($X), Mauritius ($X) and the United States ($X) constituted the largest markets for dairy produce exported from Sri Lanka worldwide, together comprising X% of total exports.

Mauritius, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average dairy produce export price stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average export price increased by X%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Mauritius ($X per ton), while the average price for exports to Maldives ($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 Mauritius (X%), while the prices for the other major destinations experienced a decline.

Dairy Produce Imports

Imports into Sri Lanka

In 2022, dairy produce imports into Sri Lanka dropped remarkably to X tons, which is down by X% on 2021 figures. In general, imports showed a perceptible decline. The growth pace was the most rapid in 2015 when imports increased by X%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, dairy produce imports dropped markedly to $X in 2022. Over the period under review, imports showed a noticeable reduction. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest dairy produce supplier to Sri Lanka, accounting for a X% share of total imports. Moreover, dairy produce imports from New Zealand exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), eightfold. The third position in this ranking was taken by the United States (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from New Zealand amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and the United States (X% per year).

In value terms, New Zealand ($X) constituted the largest supplier of dairy produce to Sri Lanka, comprising X% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual growth rate of value from New Zealand amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and the United States (X% per year).

Import Prices by Country

In 2022, the average dairy produce import price amounted to $X per ton, rising by X% against the previous year. Over the period under review, import price indicated a modest 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, dairy produce import price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2014 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Austria ($X per ton) and India ($X per ton), while the price for Australia ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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