Sri Lanka: Fungicide And Bactericide Market 2024

Fungicide And Bactericide Market Size in Sri Lanka

The Sri Lankan fungicide and bactericide market shrank remarkably to $X in 2021, waning by -15.5% 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). Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Fungicide And Bactericide Exports

Exports from Sri Lanka

In 2021, overseas shipments of fungicides, bactericides and seed treatments increased by 26% to X tons, rising for the third year in a row after two years of decline. Overall, exports, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2014 when exports increased by 165% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, fungicide and bactericide exports contracted notably to $X in 2021. Over the period under review, exports, however, saw a abrupt setback. The pace of growth was the most pronounced in 2014 when exports increased by 344%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

France (X tons) was the main destination for fungicide and bactericide exports from Sri Lanka, accounting for a 84% share of total exports. Moreover, fungicide and bactericide exports to France exceeded the volume sent to the second major destination, Maldives (X kg), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to France stood at +59.3%.

In value terms, France ($X) emerged as the key foreign market for fungicides, bactericides and seed treatments exports from Sri Lanka, comprising 87% of total exports. The second position in the ranking was held by Maldives ($X), with a 13% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to France totaled +182.9%.

Export Prices by Country

In 2021, the average fungicide and bactericide export price amounted to $X per ton, declining by -39.3% against the previous year. Over the period under review, the export price recorded a pronounced decline. The pace of growth appeared the most rapid in 2014 an increase of 67% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Maldives amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+77.5%).

Fungicide And Bactericide Imports

Imports into Sri Lanka

In 2021, fungicide and bactericide imports into Sri Lanka declined rapidly to X tons, reducing by -17.1% compared with 2020. In general, total imports indicated a modest increase from 2012 to 2021: its volume increased at an average annual rate of +1.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +20.3% against 2019 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 86% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, fungicide and bactericide imports fell dramatically to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 57% against the previous year. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), India (X tons) and Thailand (X tons) were the main suppliers of fungicide and bactericide imports to Sri Lanka, together comprising 66% of total imports. These countries were followed by the United Arab Emirates, Peru, Japan, the United States, China, Brazil, Israel and the UK, which together accounted for a further 26%.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +70.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of fungicides, bactericides and seed treatments to Sri Lanka, comprising 41% of total imports. The second position in the ranking was held by India ($X), with a 14% share of total imports. It was followed by Thailand, with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +11.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-3.4% per year) and Thailand (+1.4% per year).

Import Prices by Country

In 2021, the average fungicide and bactericide import price amounted to $X per ton, rising by 2.4% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average import price increased by 15%. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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 the UK ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+13.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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