Sri Lanka: Market for Lamb and Sheep Meat 2025

Market Size for Lamb and Sheep Meat in Sri Lanka

In 2021, the Sri Lankan lamb and sheep meat market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption showed a resilient increase. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Lamb and Sheep Meat in Sri Lanka

In value terms, lamb and sheep meat production skyrocketed to $X in 2021 estimated in export price. Over the period under review, the total production indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -22.3% against 2019 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 45%. Lamb and sheep meat production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

In 2021, the average yield of lamb and sheep meat in Sri Lanka amounted to X kg per head, remaining relatively unchanged against the previous year. Over the period under review, the yield showed a relatively flat trend pattern. The lamb and sheep meat yield peaked in 2021 and is expected to retain growth in the near future.

The number of animals slaughtered for lamb and sheep meat production in Sri Lanka was estimated at X heads in 2021, with an increase of 6.4% against the year before. This number increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 38%. The number of animals slaughtered for lamb and sheep meat production peaked in 2021 and is expected to retain growth in the near future.

Exports of Lamb and Sheep Meat

Exports from Sri Lanka

In 2021, overseas shipments of lamb and sheep meat increased by 52% to X tons, rising for the second year in a row after three years of decline. In general, exports, however, showed a deep slump. The most prominent rate of growth was recorded in 2016 with an increase of 547%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, lamb and sheep meat exports surged to $X in 2021. Overall, exports, however, recorded a perceptible reduction. The most prominent rate of growth was recorded in 2016 with an increase of 322%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Maldives (X tons) was the main destination for lamb and sheep meat exports from Sri Lanka, with a approx. 103% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Maldives amounted to +5.8%.

In value terms, Maldives ($X) emerged as the key foreign market for lamb and sheep meat exports from Sri Lanka.

From 2012 to 2021, the average annual growth rate of value to Maldives stood at +9.1%.

Export Prices by Country

The average lamb and sheep meat export price stood at $X per ton in 2021, rising by 27% against the previous year. In general, the export price saw a measured expansion. The pace of growth was the most pronounced in 2019 when the average export price increased by 80%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Ireland amounted to +22.7% per year.

Imports of Lamb and Sheep Meat

Imports into Sri Lanka

In 2021, imports of lamb and sheep meat into Sri Lanka skyrocketed to X tons, picking up by 56% against 2020. In general, imports enjoyed a resilient increase. The growth pace was the most rapid in 2018 when imports increased by 74%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, lamb and sheep meat imports surged to $X in 2021. Overall, imports showed a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 128%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Australia (X tons), Spain (X tons) and Singapore (X tons) were the main suppliers of lamb and sheep meat imports to Sri Lanka, together accounting for 73% of total imports.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +57.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest lamb and sheep meat suppliers to Sri Lanka were Australia ($X), Singapore ($X) and Spain ($X), together comprising 81% of total imports.

In terms of the main suppliers, Singapore, with a CAGR of +43.1%, saw the highest rates of growth with regard to 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 lamb and sheep meat import price stood at $X per ton in 2021, rising by 4.7% against the previous year. Over the period under review, import price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, lamb and sheep meat import price decreased by -22.5% against 2018 indices. The pace of growth appeared the most rapid in 2013 when the average import price increased by 33%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, 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 ($X per ton), while the price for Italy ($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 United Arab Emirates (+17.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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