Sri Lanka: Dairy Produce Market 2024

Dairy Produce Market Size in Sri Lanka

In 2022, after seven years of growth, there was significant decline in the Sri Lankan dairy produce market, when its value decreased by X% to $X. Overall, the total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Dairy produce consumption peaked at $X in 2021, and then declined in the following year.

Dairy Produce Production in Sri Lanka

In value terms, dairy produce production contracted slightly to $X in 2022 estimated in export price. In general, production, however, posted buoyant growth. The most prominent rate of growth was recorded in 2015 with an increase of X%. Dairy produce production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Dairy Produce Exports

Exports from Sri Lanka

In 2022, the amount of dairy produce exported from Sri Lanka expanded slightly to X tons, growing by X% compared with the previous year. Over the period under review, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2019 when exports increased by X%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, dairy produce exports surged to $X in 2022. In general, exports recorded a prominent increase. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Maldives (X tons) was the main destination for dairy produce exports from Sri Lanka, accounting for a X% share of total exports. Moreover, dairy produce exports to Maldives exceeded the volume sent to the second major destination, Mauritius (X tons), sevenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Maldives totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mauritius (X% per year) and the United States (X% per year).

In value terms, the largest markets for dairy produce exported from Sri Lanka were Maldives ($X), Mauritius ($X) and the United States ($X), with a combined X% share of total exports.

Among the main countries of destination, Mauritius, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average dairy produce export price stood at $X per ton in 2022, growing by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Mauritius ($X per ton), while the average price for exports to Maldives ($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 Mauritius (X%), while the prices for the other major destinations experienced a decline.

Dairy Produce Imports

Imports into Sri Lanka

In 2022, the amount of dairy produce imported into Sri Lanka shrank remarkably to X tons, waning by X% on the year before. In general, imports saw a noticeable reduction. The pace of growth was the most pronounced in 2015 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, dairy produce imports shrank notably to $X in 2022. Overall, imports recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest supplier of dairy produce to Sri Lanka, with a X% share of total imports. Moreover, dairy produce imports from New Zealand exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), eightfold. The United States (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from New Zealand amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and the United States (X% per year).

In value terms, New Zealand ($X) constituted the largest supplier of dairy produce to Sri Lanka, comprising X% of total imports. The second position in the ranking was held by the Netherlands ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual growth rate of value from New Zealand amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and the United States (X% per year).

Import Prices by Country

The average dairy produce import price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dairy produce import price increased by X% against 2017 indices. The pace of growth was the most pronounced in 2014 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Austria ($X per ton) and the United States ($X per ton), while the price for India ($X per ton) and Australia ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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