Sri Lanka: Fructose Market 2024

Fructose Market Size in Sri Lanka

The Sri Lankan fructose market soared to $X in 2021, with an increase of 37% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption enjoyed buoyant growth. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in the immediate term.

Fructose Exports

Exports from Sri Lanka

In 2021, fructose exports from Sri Lanka amounted to X tons, picking up by 1.7% compared with the year before. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 132% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, fructose exports amounted to $X in 2021. Overall, exports showed a strong increase. The most prominent rate of growth was recorded in 2014 when exports increased by 160%. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Australia (X tons) was the main destination for fructose exports from Sri Lanka, accounting for a 29% share of total exports. Moreover, fructose exports to Australia exceeded the volume sent to the second major destination, Canada (X tons), threefold. The third position in this ranking was taken by the United States (X tons), with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Australia totaled +11.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-5.5% per year) and the United States (+18.8% per year).

In value terms, Australia ($X) remains the key foreign market for fructose and fructose syrup exports from Sri Lanka, comprising 27% of total exports. The second position in the ranking was held by the United States ($X), with a 13% share of total exports. It was followed by the UK, with an 8.7% share.

From 2012 to 2021, the average annual growth rate of value to Australia totaled +16.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+26.6% per year) and the UK (+2.7% per year).

Export Prices by Country

The average fructose export price stood at $X per ton in 2021, with an increase of 11% against the previous year. Over the period under review, export price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +8.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fructose export price increased by +55.2% against 2016 indices. The growth pace was the most rapid in 2013 an increase of 20%. The export price peaked in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the average price for exports to Germany ($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 Malaysia (+16.4%), while the prices for the other major destinations experienced more modest paces of growth.

Fructose Imports

Imports into Sri Lanka

In 2021, imports of fructose and fructose syrup into Sri Lanka surged to X tons, increasing by 34% compared with the year before. Over the period under review, imports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 68% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in years to come.

In value terms, fructose imports surged to $X in 2021. In general, imports posted prominent growth. The most prominent rate of growth was recorded in 2019 when imports increased by 79%. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

Malaysia (X tons), Singapore (X tons) and China (X tons) were the main suppliers of fructose imports to Sri Lanka, with a combined 43% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +54.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Malaysia ($X) and India ($X) constituted the largest fructose suppliers to Sri Lanka, together comprising 43% of total imports. China, Indonesia, Israel, Finland and Italy lagged somewhat behind, together accounting for a further 17%.

Indonesia, with a CAGR of +41.0%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average fructose import price stood at $X per ton in 2021, approximately equating the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 21% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+2.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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