Sri Lanka: Market for Flaked or Rolled Cereals 2024

Market Size for Flaked or Rolled Cereals in Sri Lanka

The Sri Lankan flaked or rolled cereal market expanded to $X in 2022, surging by 5% against the previous year. Overall, the total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.6% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Flaked or Rolled Cereals in Sri Lanka

In value terms, flaked or rolled cereal production totaled $X in 2022 estimated in export price. Overall, the total production indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.0% against 2020 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 31%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Flaked or Rolled Cereals

Exports from Sri Lanka

In 2022, approx. X tons of flaked or rolled cereals were exported from Sri Lanka; which is down by -24% against 2021. Overall, exports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2017 when exports increased by 564% against the previous year. The exports peaked at X tons in 2021, and then fell sharply in the following year.

In value terms, flaked or rolled cereal exports shrank markedly to $X in 2022. Over the period under review, exports, however, showed a significant increase. The pace of growth appeared the most rapid in 2017 when exports increased by 478%. The exports peaked at $X in 2021, and then shrank significantly in the following year.

Exports by Country

India (X tons) was the main destination for flaked or rolled cereal exports from Sri Lanka, accounting for a 76% share of total exports. Moreover, flaked or rolled cereal exports to India exceeded the volume sent to the second major destination, Nigeria (X tons), more than tenfold. The third position in this ranking was held by Pakistan (X tons), with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to India totaled +125.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (+119.1% per year) and Pakistan (+14.6% per year).

In value terms, India ($X) remains the key foreign market for flaked or rolled cereals exports from Sri Lanka, comprising 73% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 6% share of total exports. It was followed by the United Arab Emirates, with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to India amounted to +147.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+16.8% per year) and the United Arab Emirates (+54.8% per year).

Export Prices by Country

In 2022, the average flaked or rolled cereal export price amounted to $X per ton, surging by 7.5% against the previous year. Overall, the export price, however, showed a noticeable downturn. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Nigeria ($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 India (+9.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flaked or Rolled Cereals

Imports into Sri Lanka

After two years of growth, supplies from abroad of flaked or rolled cereals decreased by -49.9% to X tons in 2022. In general, imports, however, enjoyed a slight expansion. The most prominent rate of growth was recorded in 2021 with an increase of 93%. As a result, imports reached the peak of X tons, and then shrank remarkably in the following year.

In value terms, flaked or rolled cereal imports shrank sharply to $X in 2022. Overall, imports, however, saw notable growth. The growth pace was the most rapid in 2021 with an increase of 85% against the previous year. As a result, imports reached the peak of $X, and then dropped markedly in the following year.

Imports by Country

India (X tons), Australia (X tons) and the United Arab Emirates (X tons) were the main suppliers of flaked or rolled cereal imports to Sri Lanka, with a combined 88% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Australia (with a CAGR of +63.2%), while imports for the other leaders experienced mixed trend patterns.

In value terms, India ($X) constituted the largest supplier of flaked or rolled cereals to Sri Lanka, comprising 69% of total imports. The second position in the ranking was held by Australia ($X), with a 19% share of total imports. It was followed by the United Arab Emirates, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India totaled +5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+64.2% per year) and the United Arab Emirates (-5.8% per year).

Import Prices by Country

In 2022, the average flaked or rolled cereal import price amounted to $X per ton, dropping by -2.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2017 an increase of 24%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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