Sri Lanka: Grain Market 2024

Grain Market Size in Sri Lanka

The Sri Lankan grain market expanded remarkably to $X in 2022, picking up by X% against the previous year. Over the period under review, the total consumption indicated a measured 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, consumption decreased by X% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Grain Production in Sri Lanka

In value terms, grain production expanded markedly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a moderate increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

The average yield of grain in Sri Lanka reached X tons per ha in 2022, picking up by X% against 2021. The yield figure increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 with an increase of X%. The grain yield peaked at X tons per ha in 2020; however, from 2021 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of grain production in Sri Lanka fell to X ha, waning by X% against the previous year. In general, the harvested area, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of X%. As a result, the harvested area attained the peak level of X ha. From 2016 to 2022, the growth of the grain harvested area remained at a lower figure.

Grain Exports

Exports from Sri Lanka

In 2022, overseas shipments of grain increased by X% to X tons, rising for the fourth year in a row after five years of decline. Over the period under review, exports saw strong growth. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, grain exports skyrocketed to $X in 2022. In general, exports enjoyed buoyant growth. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Singapore (X tons) was the main destination for grain exports from Sri Lanka, with a approx. X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Singapore amounted to X%.

In value terms, Singapore ($X) also remains the key foreign market for grain exports from Sri Lanka.

From 2012 to 2022, the average annual growth rate of value to Singapore stood at X%.

Export Prices by Country

The average grain export price stood at $X per ton in 2022, flattening at the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Singapore.

From 2012 to 2022, the rate of growth in terms of prices for Singapore amounted to X% per year.

Grain Imports

Imports into Sri Lanka

In 2022, purchases abroad of grain decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2021, and then dropped notably in the following year.

In value terms, grain imports shrank notably to $X in 2022. Overall, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then declined markedly in the following year.

Imports by Country

In 2022, India (X tons) constituted the largest grain supplier to Sri Lanka, accounting for a X% share of total imports. Moreover, grain imports from India exceeded the figures recorded by the second-largest supplier, Ukraine (X tons), twofold. The third position in this ranking was held by Romania (X tons), with a X% share.

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

In value terms, India ($X) constituted the largest supplier of grain to Sri Lanka, comprising X% of total imports. The second position in the ranking was held by Romania ($X), with a X% share of total imports. It was followed by Ukraine, with an X% share.

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

Import Prices by Country

The average grain import price stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

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