Sri Lanka: Grain Market 2024

Grain Market Size in Sri Lanka

The Sri Lankan grain market reached $X in 2022, with an increase of X% against the previous year. Overall, consumption, however, showed a tangible expansion. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Grain Production in Sri Lanka

In value terms, grain production rose notably to $X in 2022 estimated in export price. In general, production, however, recorded a temperate expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. 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.

In 2022, the average grain yield in Sri Lanka rose slightly to X tons per ha, with an increase of X% compared with 2021. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, the average grain yield reached the maximum level at X tons per ha in 2020; however, from 2021 to 2022, the yield stood 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, the total area harvested in terms of grain production in Sri Lanka fell to X ha, with a decrease of X% on the previous year's figure. Over the period under review, the harvested area, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of X%. As a result, the harvested area reached the peak level of X ha. From 2016 to 2022, the growth of the grain harvested area failed to regain momentum.

Grain Exports

Exports from Sri Lanka

In 2022, shipments abroad of grain increased by X% to X tons, rising for the fourth consecutive year after five years of decline. In general, exports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, grain exports soared to $X in 2022. Over the period under review, exports recorded buoyant growth. The growth pace was the most rapid in 2021 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Singapore (X tons) was the main destination for grain exports from Sri Lanka, accounting for a approx. X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Singapore amounted to X%.

In value terms, Singapore ($X) also remains the key foreign market for grain exports from Sri Lanka.

From 2012 to 2022, the average annual growth rate of value to Singapore amounted to X%.

Export Prices by Country

In 2022, the average grain export price amounted to $X per ton, approximately reflecting the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by X%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Singapore.

From 2012 to 2022, the rate of growth in terms of prices for Singapore amounted to X% per year.

Grain Imports

Imports into Sri Lanka

After two years of growth, supplies from abroad of grain decreased by X% to X tons in 2022. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2021, and then declined sharply in the following year.

In value terms, grain imports contracted notably to $X in 2022. Overall, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then reduced sharply in the following year.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of grain to Sri Lanka, accounting for a X% share of total imports. Moreover, grain imports from India exceeded the figures recorded by the second-largest supplier, Ukraine (X tons), twofold. Romania (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from India totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (X% per year) and Romania (X% per year).

In value terms, India ($X) constituted the largest supplier of grain to Sri Lanka, comprising X% of total imports. The second position in the ranking was taken by Romania ($X), with a X% share of total imports. It was followed by Ukraine, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (X% per year) and Ukraine (X% per year).

Import Prices by Country

In 2022, the average grain import price amounted to $X per ton, rising by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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 the United States ($X per ton), while the price for Ukraine ($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 United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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