Sri Lanka: Dried Grapes Market 2024

Dried Grapes Market Size in Sri Lanka

The Sri Lankan dried grapes market reduced remarkably to $X in 2022, with a decrease of -52.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, showed a measured expansion. Dried grapes consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Dried Grapes Exports

Exports from Sri Lanka

In 2022, shipments abroad of dried grapes increased by 7.4% to X tons, rising for the third consecutive year after three years of decline. In general, exports, however, continue to indicate a noticeable curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 222%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, dried grapes exports reduced to $X in 2022. Over the period under review, exports, however, saw a deep slump. The growth pace was the most rapid in 2021 when exports increased by 204%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The UK (X tons) was the main destination for dried grapes exports from Sri Lanka, accounting for a 75% share of total exports. Moreover, dried grapes exports to the UK exceeded the volume sent to the second major destination, Maldives (X kg), threefold.

From 2012 to 2022, the average annual growth rate of volume to the UK was relatively modest.

In value terms, the UK ($X) emerged as the key foreign market for dried grapes exports from Sri Lanka, comprising 77% of total exports. The second position in the ranking was held by Maldives ($X), with a 23% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the UK was relatively modest.

Export Prices by Country

The average dried grapes export price stood at $X per ton in 2022, with a decrease of -14% against the previous year. Overall, the export price continues to indicate a pronounced descent. The growth pace was the most rapid in 2018 when the average export price increased by 87%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Maldives amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (+68.9%), while the prices for the other major destinations experienced a decline.

Dried Grapes Imports

Imports into Sri Lanka

In 2022, the amount of dried grapes imported into Sri Lanka dropped markedly to X tons, with a decrease of -47.3% on the year before. Overall, total imports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 48% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then reduced dramatically in the following year.

In value terms, dried grapes imports declined sharply to $X in 2022. Over the period under review, imports, however, posted a noticeable increase. The most prominent rate of growth was recorded in 2013 when imports increased by 59% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of dried grapes to Sri Lanka, with a 88% share of total imports. Moreover, dried grapes imports from India exceeded the figures recorded by the second-largest supplier, Iran (X tons), more than tenfold. The third position in this ranking was taken by the United States (X tons), with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from India stood at +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Iran (+8.8% per year) and the United States (+15.9% per year).

In value terms, India ($X) constituted the largest supplier of dried grapes to Sri Lanka, comprising 81% of total imports. The second position in the ranking was held by the United States ($X), with a 9.4% share of total imports. It was followed by Iran, with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India totaled +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+31.7% per year) and Iran (+13.7% per year).

Import Prices by Country

In 2022, the average dried grapes import price amounted to $X per ton, with a decrease of -13.5% against the previous year. Over the period under review, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dried grapes import price decreased by -35.0% against 2018 indices. The most prominent rate of growth was recorded in 2018 an increase of 38% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+13.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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