Sri Lanka: Maize Market 2024

Maize Market Size in Sri Lanka

In 2022, the Sri Lankan maize market increased by X% to $X, rising for the second year in a row after two years of decline. Over the period under review, the total consumption indicated prominent growth 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 increased by X% against 2020 indices. Over the period under review, the market reached the peak level in 2022 and is likely to see gradual growth in the near future.

Maize Production in Sri Lanka

In value terms, maize production expanded significantly to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Maize production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

In 2022, the average maize yield in Sri Lanka dropped modestly to X tons per ha, with a decrease of X% against 2021 figures. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2014 when the yield increased by X%. Over the period under review, the average maize yield attained the peak level at X tons per ha in 2021, and then declined slightly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The maize harvested area in Sri Lanka declined to X ha in 2022, which is down by X% compared with 2021. Overall, the total harvested area indicated a temperate expansion from 2012 to 2022: its figure 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, maize harvested area increased by X% against 2017 indices. The pace of growth was the most pronounced in 2021 when the harvested area increased by X% against the previous year. As a result, the harvested area attained the peak level of X ha, and then declined in the following year.

Maize Exports

Exports from Sri Lanka

Maize exports from Sri Lanka declined rapidly to X tons in 2022, falling by X% against the previous year. Over the period under review, exports recorded a dramatic shrinkage. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, maize exports declined to $X in 2022. In general, exports recorded a deep reduction. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

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

From 2012 to 2022, the average annual growth rate of volume to Japan was relatively modest.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan was relatively modest.

Export Prices by Country

The average maize export price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the export price recorded significant growth. The most prominent rate of growth was recorded in 2016 an increase of X%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Taiwan (Chinese) amounted to X% per year.

Maize Imports

Imports into Sri Lanka

After three years of decline, overseas purchases of maize increased by X% to X tons in 2022. In general, imports enjoyed a significant increase. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, maize imports surged to $X in 2022. Overall, imports continue to indicate significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

India (X tons), Pakistan (X tons) and Myanmar (X tons) were the main suppliers of maize imports to Sri Lanka, together comprising X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

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

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

Import Prices by Country

In 2022, the average maize import price amounted to $X per ton, with a decrease of X% against the previous year. Overall, the import price continues to indicate a abrupt decline. The pace of growth was the most pronounced in 2020 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 Ukraine ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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