Sri Lanka: Meat And Poultry Market 2024

Meat And Poultry Market Size in Sri Lanka

The Sri Lankan meat and poultry market shrank modestly to $X in 2022, leveling off at the previous year. Over the period under review, the total consumption indicated measured 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. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Meat And Poultry Production in Sri Lanka

In value terms, meat and poultry production declined modestly to $X in 2022 estimated in export price. Overall, the total production 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, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

In 2022, the average yield of meat and poultry in Sri Lanka amounted to X kg per head, therefore, remained relatively stable against 2021 figures. In general, the yield saw a pronounced contraction. The pace of growth was the most pronounced in 2015 with an increase of X%. The meat and poultry yield peaked at X kg per head in 2013; however, from 2014 to 2022, the yield remained at a lower figure.

In 2022, the number of animals slaughtered for meat and poultry production in Sri Lanka shrank slightly to X heads, stabilizing at the previous year. In general, the total number of producing animals indicated resilient growth 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, number of animals slaughtered for meat and poultry production increased by X% against 2012 indices. The growth pace was the most rapid in 2014 when the number of producing animals increased by X% against the previous year. The number of animals slaughtered for meat and poultry production peaked at X heads in 2021, and then dropped modestly in the following year.

Meat And Poultry Exports

Exports from Sri Lanka

In 2022, the amount of meat and poultry exported from Sri Lanka reduced rapidly to X tons, waning by X% on the year before. Over the period under review, exports showed a deep contraction. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, meat and poultry exports fell to $X in 2022. In general, exports, however, continue to indicate a moderate expansion. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Maldives (X tons) was the main destination for meat and poultry exports from Sri Lanka, with a X% share of total exports. Moreover, meat and poultry exports to Maldives exceeded the volume sent to the second major destination, Vietnam (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Maldives stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Hong Kong SAR (X% per year).

In value terms, Maldives ($X) remains the key foreign market for meat and poultry exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Maldives totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (X% per year) and Vietnam (X% per year).

Export Prices by Country

The average meat and poultry export price stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the export price posted a prominent increase. The pace of growth appeared the most rapid in 2018 an increase of X%. The export price peaked in 2022 and is expected to retain growth in years to come.

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 Maldives ($X per ton), while the average price for exports to Vietnam ($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 Thailand (X%), while the prices for the other major destinations experienced a decline.

Meat And Poultry Imports

Imports into Sri Lanka

Meat and poultry imports into Sri Lanka declined remarkably to X tons in 2022, shrinking by X% on the year before. Overall, imports showed a noticeable contraction. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, meat and poultry imports fell markedly to $X in 2022. Over the period under review, imports, however, enjoyed a mild increase. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Australia (X tons), Brazil (X tons) and Spain (X tons) were the main suppliers of meat and poultry imports to Sri Lanka, with a combined X% share of total imports. Thailand, Romania and the United States lagged somewhat behind, together accounting for a further X%.

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

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

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

Import Prices by Country

The average meat and poultry import price stood at $X per ton in 2022, increasing by X% against the previous year. In general, import price indicated a resilient increase 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, meat and poultry import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, 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 ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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