Sri Lanka: Market for Flours, Meals And Pellets Of Fish 2024

Market Size for Flours, Meals And Pellets Of Fish in Sri Lanka

In 2021, the Sri Lankan fish meals and pellet market decreased by -27.6% to $X, falling for the seventh year in a row after three years of growth. Over the period under review, consumption continues to indicate a sharp shrinkage. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Exports of Flours, Meals And Pellets Of Fish

Exports from Sri Lanka

For the fourth year in a row, Sri Lanka recorded decline in shipments abroad of flours, meals and pellets of fish, which decreased by -15.9% to X tons in 2021. Over the period under review, exports continue to indicate a deep slump. The pace of growth was the most pronounced in 2017 when exports increased by 189% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, fish meals and pellet exports declined dramatically to $X in 2021. In general, exports showed a perceptible shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 206% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons) was the main destination for fish meals and pellet exports from Sri Lanka, accounting for a 86% share of total exports. Moreover, fish meals and pellet exports to the United Arab Emirates exceeded the volume sent to the second major destination, Hong Kong SAR (X kg), more than tenfold. The third position in this ranking was taken by Australia (X kg), with a 2.5% share.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates amounted to +32.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-35.2% per year) and Australia (-27.6% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for flours, meals and pellets of fish exports from Sri Lanka, comprising 81% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with an 11% share of total exports. It was followed by the United States, with a 2.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates stood at +31.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-17.5% per year) and the United States (+25.9% per year).

Export Prices by Country

In 2021, the average fish meals and pellet export price amounted to $X per ton, waning by -3.9% against the previous year. Overall, export price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +13.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 an increase of 121% against the previous year. The export price peaked at $X per ton in 2020, and then declined in the following year.

Prices varied noticeably country of destination: the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Australia ($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 Hong Kong SAR (+27.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Flours, Meals And Pellets Of Fish

Imports into Sri Lanka

In 2021, purchases abroad of flours, meals and pellets of fish decreased by -34.5% to X tons, falling for the seventh consecutive year after three years of growth. Over the period under review, imports faced a sharp setback. The pace of growth was the most pronounced in 2014 when imports increased by 36%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, fish meals and pellet imports contracted dramatically to $X in 2021. In general, imports faced a abrupt curtailment. The pace of growth was the most pronounced in 2018 when imports increased by 14% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Maldives (X tons) constituted the largest fish meals and pellet supplier to Sri Lanka, accounting for a 80% share of total imports. Moreover, fish meals and pellet imports from Maldives exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), eightfold. Pakistan (X tons) ranked third in terms of total imports with an 8.1% share.

From 2012 to 2021, the average annual growth rate of volume from Maldives stood at +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-15.5% per year) and Pakistan (-33.7% per year).

In value terms, Maldives ($X) constituted the largest supplier of flours, meals and pellets of fish to Sri Lanka, comprising 64% of total imports. The second position in the ranking was held by Indonesia ($X), with a 24% share of total imports. It was followed by Pakistan, with a 5.5% share.

From 2012 to 2021, the average annual growth rate of value from Maldives stood at +31.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+23.8% per year) and Pakistan (-18.6% per year).

Import Prices by Country

The average fish meals and pellet import price stood at $X per ton in 2021, picking up by 25% against the previous year. In general, the import price enjoyed a resilient increase. The growth pace was the most rapid in 2018 when the average import price increased by 39%. Over the period under review, average import prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Thailand ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+46.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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