Sri Lanka: Bacon And Ham Market 2024

Bacon And Ham Market Size in Sri Lanka

The Sri Lankan bacon and ham market reduced to $X in 2022, with a decrease of -5.6% against the previous year. Over the period under review, consumption, however, recorded a strong increase. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Bacon And Ham Production in Sri Lanka

In value terms, bacon and ham production dropped to $X in 2022 estimated in export price. Over the period under review, the total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.5% 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 +3.9% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 48% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Bacon And Ham Exports

Exports from Sri Lanka

In 2022, the amount of bacon, ham and other dried, salted or smoked pig meat exported from Sri Lanka amounted to X tons, with an increase of 9.4% on the previous year's figure. Over the period under review, exports, however, recorded a perceptible decline. The pace of growth was the most pronounced in 2019 when exports increased by 459%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, bacon and ham exports surged to $X in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 529%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Maldives (X tons) was the main destination for bacon and ham exports from Sri Lanka, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Maldives stood at -3.5%.

In value terms, Maldives ($X) also remains the key foreign market for bacon, ham and other dried, salted or smoked pig meat exports from Sri Lanka.

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

Export Prices by Country

The average bacon and ham export price stood at $X per ton in 2022, increasing by 16% against the previous year. In general, the export price posted a pronounced increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by 120%. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +19.0% per year.

Bacon And Ham Imports

Imports into Sri Lanka

In 2022, purchases abroad of bacon, ham and other dried, salted or smoked pig meat increased by 19% to X kg for the first time since 2018, thus ending a three-year declining trend. Overall, imports enjoyed a prominent expansion. The growth pace was the most rapid in 2017 when imports increased by 716%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, bacon and ham imports surged to $X in 2022. In general, imports saw buoyant growth. The most prominent rate of growth was recorded in 2017 when imports increased by 342%. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

China (X kg), Spain (X kg) and Italy (X kg) were the main suppliers of bacon and ham imports to Sri Lanka, together accounting for 83% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +76.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of bacon, ham and other dried, salted or smoked pig meat to Sri Lanka, comprising 50% of total imports. The second position in the ranking was held by Italy ($X), with a 16% share of total imports. It was followed by Spain, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +81.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+6.3% per year) and Spain (+22.7% per year).

Import Prices by Country

In 2022, the average bacon and ham import price amounted to $X per ton, picking up by 8.4% against the previous year. Overall, the import price, however, continues to indicate a noticeable curtailment. The growth pace was the most rapid in 2016 when the average import price increased by 37% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Australia ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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