Sri Lanka: Frozen Poultry Liver Market 2024

Frozen Poultry Liver Market Size in Sri Lanka

The Sri Lankan frozen poultry liver market declined to $X in 2022, with a decrease of -7.2% against the previous year. Overall, consumption, however, continues to indicate resilient growth. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Frozen Poultry Liver Production in Sri Lanka

In value terms, frozen poultry liver production contracted to $X in 2022 estimated in export price. Overall, production, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2019 with an increase of 69% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Frozen Poultry Liver Exports

Exports from Sri Lanka

In 2022, exports of frozen poultry livers and offal from Sri Lanka dropped dramatically to X tons, which is down by -60.2% on 2021. In general, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 922% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, frozen poultry liver exports dropped significantly to $X in 2022. Overall, exports, however, showed a perceptible expansion. The growth pace was the most rapid in 2019 when exports increased by 668%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Maldives (X tons) was the main destination for frozen poultry liver exports from Sri Lanka, with a 81% share of total exports. Moreover, frozen poultry liver exports to Maldives exceeded the volume sent to the second major destination, Vietnam (X tons), ninefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Maldives amounted to +19.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-27.1% per year) and Hong Kong SAR (-16.7% per year).

In value terms, Maldives ($X) remains the key foreign market for frozen poultry livers and offal exports from Sri Lanka, comprising 97% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 1.6% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Maldives stood at +17.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-19.7% per year) and Vietnam (-30.1% per year).

Export Prices by Country

In 2022, the average frozen poultry liver export price amounted to $X per ton, increasing by 78% against the previous year. In general, the export price saw resilient growth. The pace of growth was the most pronounced in 2018 when the average export price increased by 213% against the previous year. The export price peaked in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to Vietnam ($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 Thailand (+4.1%), while the prices for the other major destinations experienced a decline.

Frozen Poultry Liver Imports

Imports into Sri Lanka

After six years of decline, supplies from abroad of frozen poultry livers and offal increased by 371% to X tons in 2022. Over the period under review, imports, however, continue to indicate a deep setback. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, frozen poultry liver imports skyrocketed to $X in 2022. In general, imports, however, showed a abrupt decline. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Thailand (X tons) and Brazil (X tons) were the main suppliers of frozen poultry liver imports to Sri Lanka.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +19.8%).

In value terms, Thailand ($X) and Brazil ($X) were the largest frozen poultry liver suppliers to Sri Lanka.

Among the main suppliers, Brazil, with a CAGR of +11.9%, saw the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

In 2022, the average frozen poultry liver import price amounted to $X per ton, with an increase of 7.3% 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, frozen poultry liver import price decreased by -38.7% against 2017 indices. The pace of growth appeared the most rapid in 2017 an increase of 36% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Brazil amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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