Sri Lanka: Cereal Germ Market 2024

Cereal Germ Market Size in Sri Lanka

In 2021, after two years of growth, there was decline in the Sri Lankan cereal germ market, when its value decreased by -4.2% to $X. In general, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +39.8% against 2018 indices. Over the period under review, the market attained the maximum level at $X in 2020, and then reduced in the following year.

Cereal Germ Production in Sri Lanka

In value terms, cereal germ production shrank slightly to $X in 2021 estimated in export price. Overall, the total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +42.9% against 2018 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by 38%. Cereal germ production peaked at $X in 2020, and then dropped modestly in the following year.

Cereal Germ Exports

Exports from Sri Lanka

In 2021, overseas shipments of cereal germ were finally on the rise to reach X kg for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, showed a noticeable contraction. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, cereal germ exports surged to $X in 2021. Over the period under review, exports showed a moderate increase. Over the period under review, the exports hit record highs at $X in 2018; afterwards, it flattened through to 2021.

Exports by Country

Switzerland (X kg), New Zealand (X kg) and Oman (X kg) were the main destinations of cereal germ exports from Sri Lanka, together accounting for 76% of total exports.

From 2012 to 2021, the biggest increases were recorded for New Zealand (with a CAGR of +66.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X), New Zealand ($X) and Oman ($X) constituted the largest markets for cereal germ exported from Sri Lanka worldwide, with a combined 84% share of total exports.

Switzerland, with a CAGR of +69.2%, saw the highest rates of growth with regard to the value of exports, among 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

In 2021, the average cereal germ export price amounted to $X per ton, increasing by 23% against the previous year. Overall, export price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cereal germ export price decreased by -10.3% against 2019 indices. The growth pace was the most rapid in 2015 when the average export price increased by 46%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2016; however, from 2017 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 Oman ($X per ton), while the average price for exports to France ($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 Kuwait (+112.8%), while the prices for the other major destinations experienced more modest paces of growth.

Cereal Germ Imports

Imports into Sri Lanka

After two years of decline, overseas purchases of cereal germ increased by 78% to X kg in 2021. Over the period under review, imports, however, showed a abrupt setback. The most prominent rate of growth was recorded in 2018 when imports increased by 9,879%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, cereal germ imports skyrocketed to $X in 2021. Overall, imports, however, faced a deep reduction. The growth pace was the most rapid in 2018 when imports increased by 8,260% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, India (X kg) was the main cereal germ supplier to Sri Lanka, accounting for a 97% share of total imports. It was followed by Australia (X kg), with a 2.8% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from India totaled -3.1%.

In value terms, Australia ($X) constituted the largest supplier of cereal germ to Sri Lanka, comprising 68% of total imports. The second position in the ranking was taken by India ($X), with a 31% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Australia totaled -2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-6.0% per year) and the UK (-56.6% per year).

Import Prices by Country

The average cereal germ import price stood at $X per ton in 2021, increasing by 9% against the previous year. Overall, the import price, however, saw a abrupt setback. The most prominent rate of growth was recorded in 2017 when the average import price increased by 64%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Australia ($X per ton), while the price for India ($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 UK (+20.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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