Sri Lanka: Market for Dried Or Salted Fish 2024

Market Size for Dried Or Salted Fish in Sri Lanka

The Sri Lankan dried or salted fish market fell rapidly to $X in 2021, which is down by -52.2% 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 continues to indicate a deep reduction. Dried or salted fish consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Exports of Dried Or Salted Fish

Exports from Sri Lanka

Dried or salted fish exports from Sri Lanka reduced markedly to X tons in 2021, with a decrease of -60.9% compared with 2020. Overall, exports recorded a drastic downturn. The growth pace was the most rapid in 2018 with an increase of 72% against the previous year. The exports peaked at X tons in 2020, and then shrank markedly in the following year.

In value terms, dried or salted fish exports reduced sharply to $X in 2021. In general, exports showed a deep setback. The most prominent rate of growth was recorded in 2019 when exports increased by 70%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Hong Kong SAR (X tons), South Korea (X tons) and Australia (X tons) were the main destinations of dried or salted fish exports from Sri Lanka, together comprising 42% of total exports. These countries were followed by Qatar, Japan, the United States, the United Arab Emirates, Kuwait and Jordan, which together accounted for a further 40%.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +31.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), Australia ($X) and South Korea ($X) appeared to be the largest markets for dried or salted fish exported from Sri Lanka worldwide, with a combined 46% share of total exports. The United States, Kuwait, Japan, Qatar, Jordan and the United Arab Emirates lagged somewhat behind, together accounting for a further 34%.

In terms of the main countries of destination, the United Arab Emirates, with a CAGR of +31.1%, recorded 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

In 2021, the average dried or salted fish export price amounted to $X per ton, growing by 10% against the previous year. In general, the export price, however, recorded a perceptible downturn. The pace of growth appeared the most rapid in 2019 an increase of 83% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Australia ($X per ton), while the average price for exports to the United Arab Emirates ($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 Jordan (+15.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Dried Or Salted Fish

Imports into Sri Lanka

Dried or salted fish imports into Sri Lanka fell dramatically to X tons in 2021, which is down by -53.8% on 2020 figures. In general, imports recorded a sharp descent. The pace of growth was the most pronounced in 2014 with an increase of 17%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, dried or salted fish imports declined significantly to $X in 2021. Overall, imports showed a deep downturn. The pace of growth appeared the most rapid in 2015 when imports increased by 19%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

Maldives (X tons), India (X tons) and Indonesia (X tons) were the main suppliers of dried or salted fish imports to Sri Lanka, with a combined 90% share of total imports. These countries were followed by Oman, Vietnam, the United Arab Emirates, Pakistan and Thailand, which together accounted for a further 8.2%.

From 2012 to 2021, the biggest increases were recorded for Oman (with a CAGR of +31.5%), while purchases for the other leaders experienced a decline.

In value terms, the largest dried or salted fish suppliers to Sri Lanka were Maldives ($X), India ($X) and Indonesia ($X), with a combined 92% share of total imports. Oman, Vietnam, Pakistan, the United Arab Emirates and Thailand lagged somewhat behind, together comprising a further 6.6%.

Oman, with a CAGR of +37.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average dried or salted fish import price stood at $X per ton in 2021, growing by 3.7% against the previous year. Over the period under review, import price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +7.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, dried or salted fish import price increased by +91.3% against 2012 indices. The pace of growth appeared the most rapid in 2013 an increase of 30% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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