Sri Lanka: Market for Natural Rubber And Gums 2024

Market Size for Natural Rubber And Gums in Sri Lanka

The Sri Lankan natural rubber and gum market reduced to $X in 2022, waning by X% against the previous year. In general, consumption showed a deep downturn. Natural rubber and gum consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Natural Rubber And Gums in Sri Lanka

In value terms, natural rubber and gum production declined to $X in 2022 estimated in export price. Overall, production recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

The average yield of natural rubber and gums in Sri Lanka shrank to X kg per ha in 2022, dropping by X% against 2021. Over the period under review, the yield recorded a abrupt decrease. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The natural rubber and gum yield peaked at X tons per ha in 2012; however, from 2013 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of natural rubber and gums were harvested in Sri Lanka; almost unchanged from 2021. Over the period under review, the harvested area recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X%. The natural rubber and gum harvested area peaked in 2022 and is expected to retain growth in the near future.

Exports of Natural Rubber And Gums

Exports from Sri Lanka

In 2022, after two years of growth, there was significant decline in shipments abroad of natural rubber and gums, when their volume decreased by X% to X tons. In general, exports saw a abrupt contraction. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2021, and then shrank significantly in the following year.

In value terms, natural rubber and gum exports fell significantly to $X in 2022. Over the period under review, exports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The exports peaked at $X in 2021, and then contracted rapidly in the following year.

Exports by Country

Malaysia (X tons) was the main destination for natural rubber and gum exports from Sri Lanka, accounting for a X% share of total exports. Moreover, natural rubber and gum exports to Malaysia exceeded the volume sent to the second major destination, Pakistan (X tons), threefold. The third position in this ranking was held by Vietnam (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (X% per year) and Vietnam (X% per year).

In value terms, Malaysia ($X) remains the key foreign market for natural rubber and gums exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by Pakistan ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Malaysia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (X% per year) and Vietnam (X% per year).

Export Prices by Country

In 2022, the average natural rubber and gum export price amounted to $X per ton, waning by X% against the previous year. In general, the export price showed a abrupt contraction. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Malaysia ($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 Brazil (X%), while the prices for the other major destinations experienced a decline.

Imports of Natural Rubber And Gums

Imports into Sri Lanka

In 2022, after three years of growth, there was significant decline in supplies from abroad of natural rubber and gums, when their volume decreased by X% to X tons. Over the period under review, imports, however, enjoyed a prominent expansion. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then declined in the following year.

In value terms, natural rubber and gum imports expanded modestly to $X in 2022. Overall, imports, however, showed a remarkable increase. The pace of growth was the most pronounced in 2017 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Thailand (X tons), Vietnam (X tons) and Malaysia (X tons) were the main suppliers of natural rubber and gum imports to Sri Lanka, with a combined X% share of total imports. Singapore lagged somewhat behind, accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest natural rubber and gum suppliers to Sri Lanka were Thailand ($X), Vietnam ($X) and Malaysia ($X), together comprising X% of total imports. Singapore lagged somewhat behind, accounting for a further X%.

Among the main suppliers, Singapore, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average natural rubber and gum import price amounted to $X per ton, picking up by X% against the previous year. Overall, the import price, however, continues to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. 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 remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Thailand ($X per ton) and Malaysia ($X per ton), while the price for Singapore ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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