Sri Lanka: Coffee Extract Market 2024

Coffee Extract Market Size in Sri Lanka

After two years of growth, the Sri Lankan coffee extract market decreased by -0.4% to $X in 2021. Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Coffee Extract Production in Sri Lanka

In value terms, coffee extract production rose to $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the production volume increased by 17%. Coffee extract production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Coffee Extract Exports

Exports from Sri Lanka

In 2021, overseas shipments of coffee extracts, essences and concentrates increased by 20% to X tons, rising for the second consecutive year after three years of decline. Overall, exports continue to indicate strong growth. The pace of growth was the most pronounced in 2014 with an increase of 150%. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, coffee extract exports expanded rapidly to $X in 2021. Over the period under review, exports enjoyed a tangible increase. The growth pace was the most rapid in 2014 with an increase of 194%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Maldives (X tons) was the main destination for coffee extract exports from Sri Lanka, accounting for a 66% share of total exports. Moreover, coffee extract exports to Maldives exceeded the volume sent to the second major destination, Samoa (X tons), ninefold. The third position in this ranking was taken by the Netherlands (X tons), with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Maldives amounted to +8.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Samoa (0.0% per year) and the Netherlands (+36.1% per year).

In value terms, Maldives ($X) emerged as the key foreign market for coffee extracts, essences and concentrates exports from Sri Lanka, comprising 60% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 5.8% share of total exports. It was followed by Chile, with a 4.2% share.

From 2012 to 2021, the average annual growth rate of value to Maldives stood at -1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+29.2% per year) and Chile (+30.2% per year).

Export Prices by Country

The average coffee extract export price stood at $X per ton in 2021, declining by -6.7% against the previous year. Overall, the export price continues to indicate a abrupt descent. The pace of growth was the most pronounced in 2017 an increase of 26%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, 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 Chile ($X per ton), while the average price for exports to Pakistan ($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 the United States (-3.9%), while the prices for the other major destinations experienced a decline.

Coffee Extract Imports

Imports into Sri Lanka

After two years of decline, purchases abroad of coffee extracts, essences and concentrates increased by 38% to X tons in 2021. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 104% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, coffee extract imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a slight contraction. The pace of growth appeared the most rapid in 2018 when imports increased by 108%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest supplier of coffee extract to Sri Lanka, accounting for a 58% share of total imports. Moreover, coffee extract imports from Malaysia exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), fourfold. The third position in this ranking was held by India (X tons), with a 9% share.

From 2012 to 2021, the average annual growth rate of volume from Malaysia stood at -2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+3,118.9% per year) and India (+6.1% per year).

In value terms, Malaysia ($X) constituted the largest supplier of coffee extracts, essences and concentrates to Sri Lanka, comprising 57% of total imports. The second position in the ranking was taken by India ($X), with an 11% share of total imports. It was followed by Thailand, with a 10% share.

From 2012 to 2021, the average annual growth rate of value from Malaysia totaled -4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+7.6% per year) and Thailand (+2.5% per year).

Import Prices by Country

The average coffee extract import price stood at $X per ton in 2021, declining by -2.8% against the previous year. In general, the import price recorded a mild slump. The pace of growth was the most pronounced in 2017 an increase of 25% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+8.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :