Sri Lanka: Market for Frozen Scallops, Including Queen Scallop 2025

Market Size for Frozen Scallops, Including Queen Scallop in Sri Lanka

In 2021, after two years of growth, there was significant decline in the Sri Lankan market for frozen scallops, including queen scallop, when its value decreased by -94.8% to $X. In general, consumption showed a deep downturn. Frozen scallops, including queen scallop consumption peaked at $X in 2020, and then contracted markedly in the following year.

Exports of Frozen Scallops, Including Queen Scallop

Exports from Sri Lanka

In 2021, frozen scallops, including queen scallop exports from Sri Lanka skyrocketed to X kg, increasing by 146% on the previous year. Over the period under review, exports showed resilient growth. The pace of growth was the most pronounced in 2020 with an increase of 352%. Over the period under review, the exports attained the maximum at X kg in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, frozen scallops, including queen scallop exports surged to $X in 2021. In general, exports posted resilient growth. The growth pace was the most rapid in 2020 with an increase of 304%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Maldives (X kg) was the main destination for frozen scallops, including queen scallop exports from Sri Lanka, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Maldives amounted to +13.7%.

In value terms, Maldives ($X) also remains the key foreign market for frozen scallops, including queen scallop exports from Sri Lanka.

From 2012 to 2021, the average annual rate of growth in terms of value to Maldives stood at +17.6%.

Export Prices by Country

The average export price for frozen scallops, including queen scallop stood at $X per ton in 2021, shrinking by -22.1% against the previous year. In general, the export price, however, enjoyed a perceptible expansion. The pace of growth appeared the most rapid in 2013 when the average export price increased by 197% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Maldives.

From 2012 to 2021, the rate of growth in terms of prices for Maldives amounted to +3.4% per year.

Imports of Frozen Scallops, Including Queen Scallop

Imports into Sri Lanka

In 2021, after two years of growth, there was significant decline in supplies from abroad of frozen scallops, including queen scallop, when their volume decreased by -83.4% to X kg. Overall, imports continue to indicate a mild descent. The growth pace was the most rapid in 2014 when imports increased by 626%. Over the period under review, imports hit record highs at X tons in 2020, and then reduced dramatically in the following year.

In value terms, frozen scallops, including queen scallop imports shrank markedly to $X in 2021. Over the period under review, imports continue to indicate a pronounced descent. The most prominent rate of growth was recorded in 2016 with an increase of 279% against the previous year. Imports peaked at $X in 2020, and then contracted dramatically in the following year.

Imports by Country

Australia (X kg), China (X kg) and Singapore (X kg) were the main suppliers of frozen scallops, including queen scallop imports to Sri Lanka, together accounting for 96% of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +17.1%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest frozen scallops, including queen scallop suppliers to Sri Lanka were Singapore ($X), Australia ($X) and China ($X), with a combined 68% share of total imports.

Among the main suppliers, Australia, with a CAGR of +4.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average import price for frozen scallops, including queen scallop amounted to $X per ton, waning by -9.8% against the previous year. Over the period under review, the import price continues to indicate a pronounced reduction. The pace of growth was the most pronounced in 2016 an increase of 132%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+18.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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