Report Update Nov 1, 2024

Sri Lanka - Ghee - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Ghee Market 2024

Ghee Market Size in Sri Lanka

In 2022, the Sri Lankan ghee market decreased by -57.8% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption showed a abrupt descent. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Ghee Exports

Exports from Sri Lanka

In 2022, the amount of ghee exported from Sri Lanka soared to X tons, rising by 27% against the previous year. Overall, exports posted a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 145% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, ghee exports soared to $X in 2022. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 200% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons) was the main destination for ghee exports from Sri Lanka, accounting for a 68% share of total exports. Moreover, ghee exports to the United States exceeded the volume sent to the second major destination, Singapore (X tons), fourfold. The third position in this ranking was taken by Australia (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +185.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+248.2% per year) and Australia (0.0% per year).

In value terms, the United States ($X) remains the key foreign market for ghee exports from Sri Lanka, comprising 60% of total exports. The second position in the ranking was taken by Singapore ($X), with a 15% share of total exports. It was followed by Australia, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +145.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+149.7% per year) and Australia (0.0% per year).

Export Prices by Country

In 2022, the average ghee export price amounted to $X per ton, surging by 4.9% against the previous year. Over the period under review, the export price, however, saw a perceptible downturn. The most prominent rate of growth was recorded in 2017 an increase of 51%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to the United States ($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 Japan (+11.0%), while the prices for the other major destinations experienced more modest paces of growth.

Ghee Imports

Imports into Sri Lanka

In 2022, purchases abroad of ghee decreased by -2.9% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports recorded a noticeable decline. The growth pace was the most rapid in 2020 when imports increased by 84%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, ghee imports dropped notably to $X in 2022. Over the period under review, imports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 159%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

India (X tons), Australia (X tons) and New Zealand (X tons) were the main suppliers of ghee imports to Sri Lanka, together accounting for 95% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by New Zealand (with a CAGR of +124.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest ghee suppliers to Sri Lanka were Australia ($X), India ($X) and New Zealand ($X), together accounting for 94% of total imports.

Among the main suppliers, New Zealand, with a CAGR of +130.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average ghee import price stood at $X per ton in 2022, declining by -13.4% against the previous year. In general, the import price, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2017 an increase of 66% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+18.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for ghee in the world?

The country with the largest volume of ghee consumption was India, accounting for 78% of total volume. Moreover, ghee consumption in India exceeded the figures recorded by the second-largest consumer, Pakistan, sevenfold.

What are the largest producers of ghee in the world?

The country with the largest volume of ghee production was India, comprising approx. 78% of total volume. Moreover, ghee production in India exceeded the figures recorded by the second-largest producer, Pakistan, sevenfold. New Zealand ranked third in terms of total production with a 5.4% share.

What are the leading suppliers of ghee to Sri Lanka?

In value terms, India constituted the largest supplier of ghee to Sri Lanka, comprising 61% of total imports. The second position in the ranking was occupied by Malaysia, with a 16% share of total imports. It was followed by New Zealand, with a 13% share.

What are the leading importers of ghee from Sri Lanka?

In value terms, the United States remains the key foreign market for ghee exports from Sri Lanka, comprising 84% of total exports. The second position in the ranking was occupied by Japan, with a 16% share of total exports.

What is the average export price for ghee in Sri Lanka?

The average ghee export price stood at $8,894 per ton in 2021, increasing by 16% against the previous year.

What is the average import price for ghee in Sri Lanka?

In 2021, the average ghee import price amounted to $6,684 per ton, increasing by 14% against the previous year.

This report provides an in-depth analysis of the ghee market in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 887 - Ghee from Cow Milk
FCL 953 - Ghee, from Buffalo Milk

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, PRODUCING ANIMALS AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Producing Animals Slaughtered, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023