Sri Lanka: Market for Glycosides And Vegetable Alkaloids 2024

Market Size for Glycosides And Vegetable Alkaloids in Sri Lanka

The Sri Lankan glycosides and vegetable alkaloids market reduced dramatically to $X in 2021, declining by -42.7% 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). Over the period under review, consumption, however, enjoyed a strong expansion. Over the period under review, the market attained the peak level at $X in 2020, and then shrank sharply in the following year.

Exports of Glycosides And Vegetable Alkaloids

Exports from Sri Lanka

In 2021, shipments abroad of glycosides and vegetable alkaloids decreased by -67.4% to X kg, falling for the second consecutive year after two years of growth. In general, exports showed a abrupt decrease. The most prominent rate of growth was recorded in 2016 with an increase of 132% against the previous year. As a result, the exports reached the peak of X kg. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, glycosides and vegetable alkaloids exports reduced rapidly to $X in 2021. Overall, exports saw a perceptible contraction. The pace of growth appeared the most rapid in 2014 when exports increased by 97%. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Malaysia (X kg), the UK (X kg) and Germany (X kg) were the main destinations of glycosides and vegetable alkaloids exports from Sri Lanka, together comprising 84% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +29.2%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for glycosides and vegetable alkaloids exports from Sri Lanka, comprising 60% of total exports. The second position in the ranking was held by Turkey ($X), with an 11% share of total exports. It was followed by the UK, with a 10% share.

From 2012 to 2021, the average annual growth rate of value to Germany totaled +99.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (-38.1% per year) and the UK (-19.7% per year).

Export Prices by Country

In 2021, the average glycosides and vegetable alkaloids export price amounted to $X per ton, surging by 25% against the previous year. Over the period under review, the export price continues to indicate perceptible growth. The most prominent rate of growth was recorded in 2015 an increase of 109% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to India ($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 Turkey (+34.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glycosides And Vegetable Alkaloids

Imports into Sri Lanka

In 2021, approx. X tons of glycosides and vegetable alkaloids were imported into Sri Lanka; which is down by -64.5% on the previous year's figure. Over the period under review, imports, however, recorded a temperate expansion. The most prominent rate of growth was recorded in 2016 with an increase of 155%. Over the period under review, imports hit record highs at X tons in 2020, and then shrank notably in the following year.

In value terms, glycosides and vegetable alkaloids imports rose notably to $X in 2021. Overall, imports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of 154% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest glycosides and vegetable alkaloids supplier to Sri Lanka, accounting for a 39% share of total imports. Moreover, glycosides and vegetable alkaloids imports from Malaysia exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by Singapore (X tons), with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Malaysia amounted to +21.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-10.6% per year) and Singapore (+48.9% per year).

In value terms, Malaysia ($X) constituted the largest supplier of glycosides and vegetable alkaloids to Sri Lanka, comprising 36% of total imports. The second position in the ranking was taken by Australia ($X), with an 11% share of total imports. It was followed by China, with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Malaysia amounted to +31.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+205.5% per year) and China (-4.4% per year).

Import Prices by Country

In 2021, the average glycosides and vegetable alkaloids import price amounted to $X per ton, jumping by 216% against the previous year. Overall, the import price recorded strong growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Australia ($X per ton), while the price for Switzerland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+19.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :