Sri Lanka: Egg Product Market 2024

Egg Product Market Size in Sri Lanka

The Sri Lankan egg product market dropped to $X in 2021, with a decrease of -6.8% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. Egg product consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Egg Product Production in Sri Lanka

In value terms, egg product production shrank to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 23% against the previous year. Egg product production peaked at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Egg Product Exports

Exports from Sri Lanka

In 2021, egg product exports from Sri Lanka surged to X tons, growing by 24% compared with the year before. Over the period under review, exports recorded a significant increase. The pace of growth appeared the most rapid in 2014 when exports increased by 204% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, egg product exports soared to $X in 2021. In general, exports enjoyed a remarkable increase. The growth pace was the most rapid in 2014 when exports increased by 317%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Maldives (X tons) was the main destination for egg product exports from Sri Lanka, with a 84% share of total exports. Moreover, egg product exports to Maldives exceeded the volume sent to the second major destination, Canada (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Maldives amounted to +19.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (0.0% per year) and the United States (0.0% per year).

In value terms, Maldives ($X) emerged as the key foreign market for egg products exports from Sri Lanka, comprising 66% of total exports. The second position in the ranking was taken by Canada ($X), with an 18% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Maldives totaled +13.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (0.0% per year) and the United States (0.0% per year).

Export Prices by Country

The average egg product export price stood at $X per ton in 2021, with an increase of 11% against the previous year. Overall, the export price, however, continues to indicate a noticeable reduction. The growth pace was the most rapid in 2016 an increase of 38% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Canada ($X per ton), while the average price for exports to Maldives ($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 Maldives (-5.5%).

Egg Product Imports

Imports into Sri Lanka

After three years of decline, supplies from abroad of egg products increased by 7.9% to X tons in 2021. In general, imports, however, recorded a deep slump. The growth pace was the most rapid in 2013 when imports increased by 68% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, egg product imports skyrocketed to $X in 2021. Over the period under review, imports, however, faced a deep slump. The pace of growth was the most pronounced in 2013 with an increase of 81% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Australia (X tons) constituted the largest egg product supplier to Sri Lanka, accounting for a 57% share of total imports. Moreover, egg product imports from Australia exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), threefold. India (X tons) ranked third in terms of total imports with an 8.4% share.

From 2012 to 2021, the average annual growth rate of volume from Australia totaled -13.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-4.9% per year) and India (+4.3% per year).

In value terms, Australia ($X), the United Arab Emirates ($X) and India ($X) constituted the largest egg product suppliers to Sri Lanka, with a combined 79% share of total imports. These countries were followed by Ukraine and Spain, which together accounted for a further 16%.

In terms of the main suppliers, Ukraine, with a CAGR of +10.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average egg product import price stood at $X per ton in 2021, growing by 23% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average import price increased by 33% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2013; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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