Sri Lanka: Asparagus Market 2025

Asparagus Market Size in Sri Lanka

The Sri Lankan asparagus market shrank remarkably to $X in 2022, declining by -20.2% against the previous year. In general, consumption faced a precipitous descent. Asparagus consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Asparagus Production in Sri Lanka

In value terms, asparagus production stood at less than $X in 2022 estimated in export price. Over the period under review, production showed noticeable growth. The most prominent rate of growth was recorded in 2015 when the production volume increased by 3.9%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

In 2022, the average asparagus yield in Sri Lanka amounted to less than X kg per ha, remaining constant against the year before. In general, the yield recorded a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of asparagus in Sri Lanka stood at less than X ha, therefore, remained relatively stable against the previous year's figure. In general, the harvested area saw a relatively flat trend pattern.

Asparagus Exports

Exports from Sri Lanka

In 2022, shipments abroad of asparagus increased by 251% to X kg for the first time since 2016, thus ending a five-year declining trend. Overall, exports, however, showed a abrupt setback. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, asparagus exports surged to $X in 2022. Over the period under review, exports, however, recorded a precipitous slump. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Australia (X kg) was the main destination for asparagus exports from Sri Lanka, accounting for a 89% share of total exports. Moreover, asparagus exports to Australia exceeded the volume sent to the second major destination, Maldives (X kg), eightfold.

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

In value terms, Australia ($X) emerged as the key foreign market for asparagus exports from Sri Lanka, comprising 84% of total exports. The second position in the ranking was held by Maldives ($X), with a 16% share of total exports.

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

Export Prices by Country

The average asparagus export price stood at $X per ton in 2022, which is down by -50.8% against the previous year. Overall, the export price continues to indicate a drastic downturn. The pace of growth was the most pronounced in 2018 when the average export price increased by 7.6%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to Australia amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Maldives (-1.4%), while the prices for the other major destinations experienced a decline.

Asparagus Imports

Imports into Sri Lanka

In 2022, supplies from abroad of asparagus decreased by -80.1% to X kg, falling for the sixth year in a row after two years of growth. In general, imports saw a precipitous curtailment. The pace of growth was the most pronounced in 2016 when imports increased by 654% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, asparagus imports contracted significantly to $X in 2022. Over the period under review, imports faced a precipitous contraction. The pace of growth appeared the most rapid in 2016 with an increase of 842%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Mexico (X kg) constituted the largest asparagus supplier to Sri Lanka, with a 81% share of total imports. Moreover, asparagus imports from Mexico exceeded the figures recorded by the second-largest supplier, Italy (X kg), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Mexico amounted to +38.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-36.7% per year) and China (+26.0% per year).

In value terms, Mexico ($X) constituted the largest supplier of asparagus to Sri Lanka, comprising 90% of total imports. The second position in the ranking was taken by Italy ($X), with a 7.8% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Mexico totaled +10.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-35.2% per year) and China (+29.1% per year).

Import Prices by Country

The average asparagus import price stood at $X per ton in 2022, growing by 8.9% against the previous year. Overall, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, asparagus import price increased by +141.8% against 2015 indices. The pace of growth appeared the most rapid in 2018 when the average import price increased by 35%. The import price peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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