Sri Lanka: Market for Frozen Fruits And Vegetables 2024

Market Size for Frozen Fruits And Vegetables in Sri Lanka

After three years of decline, the Sri Lankan frozen fruits and vegetables market increased by X% to $X in 2022. Over the period under review, consumption showed buoyant growth. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Frozen Fruits And Vegetables in Sri Lanka

In value terms, frozen fruits and vegetables production contracted slightly to $X in 2022 estimated in export price. Overall, production enjoyed buoyant growth. The growth pace was the most rapid in 2018 with an increase of X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Exports of Frozen Fruits And Vegetables

Exports from Sri Lanka

After four years of growth, overseas shipments of frozen fruits and vegetables decreased by X% to X tons in 2022. Over the period under review, exports, however, posted a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2021, and then reduced rapidly in the following year.

In value terms, frozen fruits and vegetables exports contracted rapidly to $X in 2022. In general, exports, however, showed a strong increase. The pace of growth was the most pronounced in 2018 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2021, and then fell remarkably in the following year.

Exports by Country

Switzerland (X tons) was the main destination for frozen fruits and vegetables exports from Sri Lanka, accounting for a X% share of total exports. Moreover, frozen fruits and vegetables exports to Switzerland exceeded the volume sent to the second major destination, the United States (X tons), twofold. The third position in this ranking was taken by Maldives (X tons), with an X% share.

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

In value terms, Switzerland ($X) remains the key foreign market for frozen fruits and vegetables exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by Canada ($X), with a X% share of total exports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Switzerland stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and the United States (X% per year).

Export Prices by Country

In 2022, the average frozen fruits and vegetables export price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, export price indicated a buoyant increase 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. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to Maldives ($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 France (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Fruits And Vegetables

Imports into Sri Lanka

In 2022, imports of frozen fruits and vegetables into Sri Lanka reduced sharply to X tons, which is down by X% against the year before. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen fruits and vegetables imports shrank to $X in 2022. Over the period under review, total imports indicated a measured increase 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. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure 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 frozen fruits and vegetables supplier to Sri Lanka, with a X% share of total imports. Moreover, frozen fruits and vegetables imports from India exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. The third position in this ranking was held by the Netherlands (X tons), with a X% share.

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

In value terms, India ($X) constituted the largest supplier of frozen fruits and vegetables to Sri Lanka, comprising X% of total imports. The second position in the ranking was held by the Netherlands ($X), with a X% share of total imports. It was followed by Belgium, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Belgium (X% per year).

Import Prices by Country

In 2022, the average frozen fruits and vegetables import price amounted to $X per ton, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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