Sri Lanka: Market for Powdered, Condensed Or Evaporated Milk 2024

Market Size for Powdered, Condensed Or Evaporated Milk in Sri Lanka

The Sri Lankan market for powdered, condensed or evaporated milk declined significantly to $X in 2022, falling by X% against the previous year. Overall, consumption recorded a perceptible decline. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Powdered, Condensed Or Evaporated Milk in Sri Lanka

In value terms, powdered, condensed or evaporated milk production soared to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Exports of Powdered, Condensed Or Evaporated Milk

Exports from Sri Lanka

In 2022, the amount of powdered, condensed or evaporated milk exported from Sri Lanka rose remarkably to X tons, increasing by X% against 2021. Over the period under review, exports saw a prominent increase. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, powdered, condensed or evaporated milk exports soared to $X in 2022. In general, exports showed a buoyant expansion. The pace of growth appeared the most rapid in 2019 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Maldives (X tons) was the main destination for powdered, condensed or evaporated milk exports from Sri Lanka, accounting for a X% share of total exports. Moreover, powdered, condensed or evaporated milk exports to Maldives exceeded the volume sent to the second major destination, Mauritius (X tons), sixfold.

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

In value terms, the largest markets for powdered, condensed or evaporated milk exported from Sri Lanka were Maldives ($X), Mauritius ($X) and the United States ($X), together accounting for X% of total exports.

Mauritius, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for powdered, condensed or evaporated milk stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the export price, however, showed a perceptible curtailment. The growth pace was the most rapid in 2020 when the average export price increased by X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Maldives ($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 Luxembourg (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Powdered, Condensed Or Evaporated Milk

Imports into Sri Lanka

In 2022, imports of powdered, condensed or evaporated milk into Sri Lanka shrank rapidly to X tons, waning by X% on the previous year's figure. Over the period under review, imports showed a pronounced setback. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, powdered, condensed or evaporated milk imports declined significantly to $X in 2022. In general, imports recorded a pronounced shrinkage. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest powdered, condensed or evaporated milk supplier to Sri Lanka, accounting for a X% share of total imports. Moreover, powdered, condensed or evaporated milk imports from New Zealand exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), eightfold. The third position in this ranking was taken by the United States (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from New Zealand amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and the United States (X% per year).

In value terms, New Zealand ($X) constituted the largest supplier of powdered, condensed or evaporated milk to Sri Lanka, comprising X% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual growth rate of value from New Zealand stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and the United States (X% per year).

Import Prices by Country

The average import price for powdered, condensed or evaporated milk stood at $X per ton in 2022, surging by X% against the previous year. Overall, import price indicated modest growth 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, powdered, condensed or evaporated milk import price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the United States ($X per ton) and New Zealand ($X per ton), while the price for India ($X per ton) and Australia ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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