Sri Lanka: Prepared Frozen Vegetable Market 2022

Prepared Frozen Vegetable Market Size in Sri Lanka

The Sri Lankan prepared frozen vegetable market expanded remarkably to $X in 2020, picking up by X% against the previous year. Overall, the total consumption indicated a strong increase from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, consumption increased by +X% against 2017 indices. The pace of growth was the most pronounced in 2016 when the market value increased by X% year-to-year. Prepared frozen vegetable consumption peaked in 2020 and is likely to continue growth in the near future.

Prepared Frozen Vegetable Production in Sri Lanka

In value terms, prepared frozen vegetable production expanded remarkably to $X in 2020 estimated in export prices. Overall, production recorded a resilient increase. The growth pace was the most rapid in 2012 when the production volume increased by X% y-o-y. Over the period under review, production attained the maximum level in 2020 and is likely to see gradual growth in years to come.

Prepared Frozen Vegetable Exports

Exports from Sri Lanka

In 2020, shipments abroad of frozen vegetables and mixtures of vegetables (prepared or preserved) increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, exports, however, saw a mild shrinkage. The pace of growth appeared the most rapid in 2013 with an increase of X% y-o-y. Over the period under review, exports reached the peak figure at X tons in 2014; however, from 2015 to 2020, exports remained at a lower figure.

In value terms, prepared frozen vegetable exports skyrocketed to $X in 2020. Over the period under review, exports, however, posted a pronounced expansion. The pace of growth appeared the most rapid in 2016 when exports increased by X% year-to-year. As a result, exports attained the peak of $X. from 2017 to 2020, the growth exports remained at a somewhat lower figure.

Exports by Country

Australia (X tons) was the main destination for prepared frozen vegetable exports from Sri Lanka, with a X% share of total exports. Moreover, prepared frozen vegetable exports to Australia exceeded the volume sent to the second major destination, Maldives (X kg), fivefold. The third position in this ranking was occupied by Hong Kong SAR (X kg), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume to Australia stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (+X% per year) and Hong Kong SAR (+X% per year).

In value terms, Australia ($X) emerged as the key foreign market for prepared frozen vegetable exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was occupied by the UK ($X), with a X% share of total exports. It was followed by Maldives, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value to Australia amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-X% per year) and Maldives (+X% per year).

Export Prices by Country

In 2020, the average prepared frozen vegetable export price amounted to $X per ton, shrinking by -X% against the previous year. In general, the export price, however, posted noticeable growth. The pace of growth appeared the most rapid in 2008 when the average export price increased by X% against the previous year. Over the period under review, average export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2020, export prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was the United States ($X per ton), while the average price for exports to Australia ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR, while the prices for the other major destinations experienced more modest paces of growth.

Prepared Frozen Vegetable Imports

Imports into Sri Lanka

In 2020, supplies from abroad of frozen vegetables and mixtures of vegetables (prepared or preserved) was finally on the rise to reach X tons after two years of decline. Overall, imports, however, showed a deep contraction. The growth pace was the most rapid in 2016 when imports increased by X% y-o-y. Imports peaked at X tons in 2008; however, from 2009 to 2020, imports remained at a lower figure.

In value terms, prepared frozen vegetable imports stood at $X in 2020. In general, imports, however, saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 with an increase of X% y-o-y. Imports peaked at $X in 2008; however, from 2009 to 2020, imports stood at a somewhat lower figure.

Imports by Country

In 2020, Malaysia (X tons) constituted the largest prepared frozen vegetable supplier to Sri Lanka, with a X% share of total imports. Moreover, prepared frozen vegetable imports from Malaysia exceeded the figures recorded by the second-largest supplier, China (X tons), fivefold. The third position in this ranking was occupied by India (X tons), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from Malaysia amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-X% per year) and India (-X% per year).

In value terms, Malaysia ($X) constituted the largest supplier of prepared frozen vegetable to Sri Lanka, comprising X% of total imports. The second position in the ranking was occupied by China ($X), with a X% share of total imports. It was followed by the Netherlands, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value from Malaysia stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+X% per year) and the Netherlands (-X% per year).

Import Prices by Country

In 2020, the average prepared frozen vegetable import price amounted to $X per ton, shrinking by -X% against the previous year. In general, import price indicated a measured increase from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2010 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2019, and then shrank notably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was the Netherlands ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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