Sri Lanka: Market for Lamb and Sheep Meat 2024

Market Size for Lamb and Sheep Meat in Sri Lanka

The Sri Lankan lamb and sheep meat market dropped rapidly to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Lamb and Sheep Meat in Sri Lanka

In value terms, lamb and sheep meat production dropped rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, posted a perceptible expansion. The pace of growth was the most pronounced in 2015 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

The average yield of lamb and sheep meat in Sri Lanka amounted to X kg per head in 2022, standing approx. at 2021 figures. Overall, the yield recorded a relatively flat trend pattern. Over the period under review, the average lamb and sheep meat yield hit record highs in 2022 and is likely to continue growth in the near future.

The number of animals slaughtered for lamb and sheep meat production in Sri Lanka dropped to X heads in 2022, with a decrease of X% against the year before. This number 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 2017 with an increase of X%. The number of animals slaughtered for lamb and sheep meat production peaked at X heads in 2021, and then dropped slightly in the following year.

Exports of Lamb and Sheep Meat

Exports from Sri Lanka

In 2022, shipments abroad of lamb and sheep meat decreased by X% to X kg for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports showed a sharp curtailment. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, lamb and sheep meat exports shrank sharply to $X in 2022. Overall, exports recorded a dramatic shrinkage. The pace of growth appeared the most rapid in 2017 when exports increased by X%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Maldives (X kg) was the main destination for lamb and sheep meat exports from Sri Lanka, accounting for a approx. X% share of total exports.

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

In value terms, Maldives ($X) also remains the key foreign market for lamb and sheep meat exports from Sri Lanka.

From 2012 to 2022, the average annual growth rate of value to Maldives totaled X%.

Export Prices by Country

In 2022, the average lamb and sheep meat export price amounted to $X per ton, rising by X% against the previous year. Overall, the export price enjoyed a resilient increase. The pace of growth was the most pronounced in 2015 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see gradual growth in the near future.

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

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

Imports of Lamb and Sheep Meat

Imports into Sri Lanka

In 2022, approx. X tons of lamb and sheep meat were imported into Sri Lanka; which is down by X% on the previous year. Over the period under review, imports continue to indicate a perceptible setback. The pace of growth was the most pronounced in 2015 when imports increased by X% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, lamb and sheep meat imports shrank rapidly to $X in 2022. Overall, imports continue to indicate a mild contraction. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Australia (X tons) constituted the largest supplier of lamb and sheep meat to Sri Lanka, accounting for a X% share of total imports. Moreover, lamb and sheep meat imports from Australia exceeded the figures recorded by the second-largest supplier, Spain (X tons), sevenfold.

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

In value terms, Australia ($X) constituted the largest supplier of lamb and sheep meat to Sri Lanka, comprising X% of total imports. The second position in the ranking was held by Spain ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Australia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (X% per year) and Singapore (X% per year).

Import Prices by Country

In 2022, the average lamb and sheep meat import price amounted to $X per ton, remaining stable against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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