Sri Lanka: Feedstuff Preparing Machinery Market 2024

Feedstuff Preparing Machinery Market Size in Sri Lanka

The Sri Lankan feedstuff preparing machinery market was finally on the rise to reach $X in 2021, after two years of decline. Overall, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Feedstuff Preparing Machinery Production in Sri Lanka

In value terms, feedstuff preparing machinery production rose to $X in 2021 estimated in export price. In general, the total production indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.7% 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 -11.6% against 2017 indices. The growth pace was the most rapid in 2014 when the production volume increased by 39% against the previous year. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Feedstuff Preparing Machinery Exports

Exports from Sri Lanka

In 2020, shipments abroad of machinery for preparing animal feedstuffs decreased by 0% to X units for the first time since 2017, thus ending a two-year declining trend. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 100%. Over the period under review, the exports attained the maximum at X units in 2017; however, from 2018 to 2020, the exports failed to regain momentum.

In value terms, feedstuff preparing machinery exports declined significantly to $X in 2020. In general, exports showed a deep slump. The growth pace was the most rapid in 2017 when exports increased by 39% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2020, the growth of the exports remained at a lower figure.

Exports by Country

From 2012 to 2021, the average annual growth rate of volume to No country was relatively modest.

In value terms, India ($X) also remains the key foreign market for machinery for preparing animal feedstuffs exports from Sri Lanka.

From 2012 to 2021, the average annual growth rate of value to India totaled -8.5%.

Export Prices by Country

The average feedstuff preparing machinery export price stood at $X per unit in 2021, increasing by 88% against the previous year. In general, export price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The export price peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for India amounted to +3.3% per year.

Feedstuff Preparing Machinery Imports

Imports into Sri Lanka

Feedstuff preparing machinery imports into Sri Lanka shrank to X units in 2021, reducing by -12% on the previous year. In general, imports, however, saw a resilient increase. The growth pace was the most rapid in 2018 with an increase of 662% against the previous year. Imports peaked at X units in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, feedstuff preparing machinery imports fell to $X in 2021. Over the period under review, imports, however, posted a measured expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 541%. Imports peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of feedstuff preparing machinery to Sri Lanka, with a 55% share of total imports. Moreover, feedstuff preparing machinery imports from China exceeded the figures recorded by the second-largest supplier, India (X units), threefold. The third position in this ranking was held by the United States (X units), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +43.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+10.6% per year) and the United States (+34.1% per year).

In value terms, China ($X) constituted the largest supplier of machinery for preparing animal feedstuffs to Sri Lanka, comprising 50% of total imports. The second position in the ranking was held by India ($X), with a 15% share of total imports. It was followed by the United States, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +39.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+8.4% per year) and the United States (+28.8% per year).

Import Prices by Country

The average feedstuff preparing machinery import price stood at $X per unit in 2021, with an increase of 1.5% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average import price increased by 13% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Switzerland ($X per unit) and Malaysia ($X per unit), while the price for the United States ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+29.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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