Sri Lanka: Beef Market 2025

Beef Market Size in Sri Lanka

The Sri Lankan beef market fell to $X in 2021, which is down by -12.7% against the previous year. In general, consumption showed a slight slump. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Beef Production in Sri Lanka

In value terms, beef production fell dramatically to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 58% against the previous year. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

In 2021, the average yield of beef (cattle meat) in Sri Lanka totaled X kg per head, remaining relatively unchanged against 2020 figures. Over the period under review, the yield, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 1.6%. As a result, the yield attained the peak level of X kg per head. From 2018 to 2021, the growth of the average beef yield remained at a somewhat lower figure.

The number of animals slaughtered for beef production in Sri Lanka reduced to X heads in 2021, dropping by -6.3% compared with the previous year. In general, the number of producing animals saw a slight descent. The most prominent rate of growth was recorded in 2015 with an increase of 4.7% against the previous year. Over the period under review, this number reached the peak level at X heads in 2013; however, from 2014 to 2021, producing animals remained at a lower figure.

Beef Exports

Exports from Sri Lanka

In 2021, overseas shipments of beef (cattle meat) decreased by -29.9% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2019 when exports increased by 154%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, beef exports surged to $X in 2021. In general, exports recorded a deep downturn. The growth pace was the most rapid in 2020 when exports increased by 24%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Maldives (X tons) was the main destination for beef exports from Sri Lanka, accounting for a 83% share of total exports. Moreover, beef exports to Maldives exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Maldives amounted to -15.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+205.4% per year) and Seychelles (-37.1% per year).

In value terms, Maldives ($X) remains the key foreign market for beef (cattle meat) exports from Sri Lanka, comprising 71% of total exports. The second position in the ranking was held by Seychelles ($X), with a 23% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Maldives totaled -9.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Seychelles (-4.9% per year) and Hong Kong SAR (+163.2% per year).

Export Prices by Country

In 2021, the average beef export price amounted to $X per ton, jumping by 72% against the previous year. Over the period under review, the export price recorded prominent growth. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Seychelles ($X per ton), while the average price for exports to Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Seychelles (+51.0%), while the prices for the other major destinations experienced mixed trend patterns.

Beef Imports

Imports into Sri Lanka

In 2021, overseas purchases of beef (cattle meat) decreased by -41.1% to X tons, falling for the third consecutive year after four years of growth. In general, imports, however, continue to indicate resilient growth. The growth pace was the most rapid in 2016 when imports increased by 121%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, beef imports contracted markedly to $X in 2021. Over the period under review, imports, however, recorded a buoyant increase. The growth pace was the most rapid in 2016 when imports increased by 94% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X tons), Australia (X tons) and Brazil (X tons) were the main suppliers of beef imports to Sri Lanka, together accounting for 71% of total imports.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +65.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of beef (cattle meat) to Sri Lanka, comprising 52% of total imports. The second position in the ranking was held by Australia ($X), with an 11% share of total imports. It was followed by Singapore, with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates stood at +79.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+2.3% per year) and Singapore (+8.8% per year).

Import Prices by Country

The average beef import price stood at $X per ton in 2021, rising by 44% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.2%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+8.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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