Sri Lanka: Ginger Market 2024

Ginger Market Size in Sri Lanka

In 2022, after three years of growth, there was significant decline in the Sri Lankan ginger market, when its value decreased by -7% to $X. In general, consumption, however, saw buoyant growth. Ginger consumption peaked at $X in 2021, and then declined in the following year.

Ginger Production in Sri Lanka

In value terms, ginger production expanded notably to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate resilient growth. The growth pace was the most rapid in 2016 with an increase of 86%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

The average yield of ginger in Sri Lanka shrank slightly to X tons per ha in 2022, with a decrease of -1.6% compared with 2021 figures. In general, the yield indicated strong growth from 2012 to 2022: its figure increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ginger yield increased by +28.1% against 2018 indices. The most prominent rate of growth was recorded in 2016 with an increase of 22% against the previous year. As a result, the yield reached the peak level of X tons per ha. From 2017 to 2022, the growth of the average ginger yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of ginger were harvested in Sri Lanka; shrinking by -11.6% against the year before. Over the period under review, the harvested area, however, continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2020 when the harvested area increased by 157%. The ginger harvested area peaked at X ha in 2021, and then declined in the following year.

Ginger Exports

Exports from Sri Lanka

In 2022, exports of ginger from Sri Lanka contracted to X tons, approximately reflecting the year before. In general, exports continue to indicate a pronounced downturn. The growth pace was the most rapid in 2015 with an increase of 76% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, ginger exports soared to $X in 2022. Over the period under review, exports saw a pronounced decline. The most prominent rate of growth was recorded in 2015 when exports increased by 65%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Ghana (X tons), France (X tons) and the UK (X tons) were the main destinations of ginger exports from Sri Lanka, with a combined 59% share of total exports. The United States, Saudi Arabia, Germany, Belgium, India, Australia, the United Arab Emirates, Japan and Switzerland lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +695.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), the United States ($X) and France ($X) constituted the largest markets for ginger exported from Sri Lanka worldwide, together comprising 56% of total exports. Australia, India, Switzerland, Japan, the UK, Saudi Arabia, Germany, the United Arab Emirates and Belgium lagged somewhat behind, together accounting for a further 37%.

Belgium, with a CAGR of +474.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average ginger export price stood at $X per ton in 2022, increasing by 34% against the previous year. Overall, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 36%. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Belgium ($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 India (+48.0%), while the prices for the other major destinations experienced more modest paces of growth.

Ginger Imports

Imports into Sri Lanka

In 2022, overseas purchases of ginger decreased by -96.8% to X kg, falling for the fourth consecutive year after three years of growth. Over the period under review, imports showed a dramatic decrease. The most prominent rate of growth was recorded in 2017 when imports increased by 77%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, ginger imports fell rapidly to $X in 2022. Overall, imports faced a sharp contraction. The growth pace was the most rapid in 2017 when imports increased by 59% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Singapore (X kg) was the main ginger supplier to Sri Lanka, accounting for a 98% share of total imports. It was followed by Myanmar (X kg), with a 0.2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Singapore totaled +48.3%.

In value terms, Singapore ($X) constituted the largest supplier of ginger to Sri Lanka, comprising 97% of total imports. The second position in the ranking was held by Myanmar ($X), with a 0.1% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Singapore stood at +50.0%.

Import Prices by Country

In 2022, the average ginger import price amounted to $X per ton, picking up by 58% against the previous year. In general, the import price recorded a strong increase. The most prominent rate of growth was recorded in 2019 an increase of 101%. The import price peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Myanmar amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+17.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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