Sri Lanka: Dry Vegetable Market 2024

Dry Vegetable Market Size in Sri Lanka

In 2022, after three years of growth, there was significant decline in the Sri Lankan dry vegetable market, when its value decreased by X% to $X. Overall, consumption, however, showed a noticeable expansion. Over the period under review, the market attained the peak level at $X in 2021, and then fell in the following year.

Dry Vegetable Exports

Exports from Sri Lanka

Dry vegetable exports from Sri Lanka declined dramatically to X tons in 2022, waning by X% compared with the previous year. Over the period under review, exports, however, posted a measured expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, dry vegetable exports declined significantly to $X in 2022. In general, exports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for dry vegetable exports from Sri Lanka, accounting for a X% share of total exports. Moreover, dry vegetable exports to the United States exceeded the volume sent to the second major destination, Australia (X tons), fourfold. Germany (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and Germany (X% per year).

In value terms, the United States ($X) emerged as the key foreign market for dry vegetables exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with a X% share of total exports. It was followed by New Zealand, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and New Zealand (X% per year).

Export Prices by Country

In 2022, the average dry vegetable export price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, export price indicated notable growth 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, dry vegetable export price increased by X% against 2018 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 New Zealand ($X per ton), while the average price for exports to the United Arab Emirates ($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 Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Dry Vegetable Imports

Imports into Sri Lanka

In 2022, after two years of growth, there was significant decline in overseas purchases of dry vegetables, when their volume decreased by X% to X tons. Overall, imports, however, posted noticeable growth. The most prominent rate of growth was recorded in 2016 with an increase of X%. Imports peaked at X tons in 2021, and then fell sharply in the following year.

In value terms, dry vegetable imports contracted to $X in 2022. Over the period under review, imports, however, recorded a measured increase. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest dry vegetable supplier to Sri Lanka, with a X% share of total imports. Moreover, dry vegetable imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Germany (X% per year).

In value terms, China ($X) constituted the largest supplier of dry vegetables to Sri Lanka, comprising X% of total imports. The second position in the ranking was taken by India ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Germany (X% per year).

Import Prices by Country

The average dry vegetable import price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2019 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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