Sri Lanka: Frozen Yellowfin Tuna Market 2022

Frozen Yellowfin Tuna Market Size in Sri Lanka

The Sri Lankan frozen yellowfin tuna market shrank rapidly to $X in 2020, falling by -X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed a abrupt descent. The pace of growth appeared the most rapid in 2014 with an increase of X% year-to-year. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2020, consumption remained at a lower figure.

Frozen Yellowfin Tuna Exports

Exports from Sri Lanka

In 2020, the amount of frozen yellowfin tuna exported from Sri Lanka rose rapidly to X tons, increasing by X% on 2019. Over the period under review, exports saw buoyant growth. The most prominent rate of growth was recorded in 2012 when exports increased by X% against the previous year. As a result, exports attained the peak of X tons. from 2013 to 2020, the growth exports failed to regain the momentum.

In value terms, frozen yellowfin tuna exports expanded remarkably to $X in 2020. Overall, exports enjoyed a prominent increase. The pace of growth appeared the most rapid in 2012 with an increase of X% y-o-y. As a result, exports attained the peak of $X. from 2013 to 2020, the growth exports remained at a somewhat lower figure.

Exports by Country

Vietnam (X tons) was the main destination for frozen yellowfin tuna exports from Sri Lanka, accounting for a X% share of total exports. Moreover, frozen yellowfin tuna exports to Vietnam exceeded the volume sent to the second major destination, China (X tons), fourfold.

From 2007 to 2020, the average annual rate of growth in terms of volume to Vietnam stood at -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+X% per year) and Thailand (+X% per year).

In value terms, Vietnam ($X) remains the key foreign market for frozen yellowfin tuna exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was occupied by China ($X), with a X% share of total exports.

From 2007 to 2020, the average annual rate of growth in terms of value to Vietnam amounted to -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+X% per year) and Thailand (+X% per year).

Export Prices by Country

In 2020, the average frozen yellowfin tuna export price amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by X% against the previous year. Over the period under review, average export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2020, export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2020, the country with the highest price was Thailand ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Thailand, while the prices for the other major destinations experienced mixed trend patterns.

Frozen Yellowfin Tuna Imports

Imports into Sri Lanka

In 2020, purchases abroad of frozen yellowfin tuna decreased by -X% to X tons for the first time since 2017, thus ending a two-year rising trend. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when imports increased by X% year-to-year. As a result, imports attained the peak of X tons. from 2017 to 2020, the growth imports remained at a lower figure.

In value terms, frozen yellowfin tuna imports declined dramatically to $X in 2020. Overall, imports saw a mild downturn. The most prominent rate of growth was recorded in 2008 with an increase of X% y-o-y. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2020, imports remained at a lower figure.

Imports by Country

In 2020, India (X tons) constituted the largest frozen yellowfin tuna supplier to Sri Lanka, accounting for a X% share of total imports. Moreover, frozen yellowfin tuna imports from India exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), more than tenfold.

From 2007 to 2020, the average annual rate of growth in terms of volume from India stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-X% per year) and the U.S. (+X% per year).

In value terms, India ($X) constituted the largest supplier of frozen yellowfin tuna to Sri Lanka, comprising X% of total imports. The second position in the ranking was occupied by Taiwan (Chinese) ($X), with a X% share of total imports.

From 2007 to 2020, the average annual growth rate of value from India amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-X% per year) and the U.S. (-X% per year).

Import Prices by Country

In 2020, the average frozen yellowfin tuna import price amounted to $X per ton, rising by X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of X% year-to-year. The import price peaked at $X per ton in 2015; however, from 2016 to 2020, import prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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