Sri Lanka: Maize Market 2025

Maize Market Size in Sri Lanka

In 2022, the Sri Lankan maize market increased by 43% to $X, rising for the second consecutive year after three years of decline. Over the period under review, consumption enjoyed resilient growth. Maize consumption peaked in 2022 and is expected to retain growth in years to come.

Maize Production in Sri Lanka

In value terms, maize production expanded rapidly to $X in 2022 estimated in export price. In general, production, however, enjoyed a tangible increase. The most prominent rate of growth was recorded in 2015 with an increase of 66% against the previous year. Maize production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

In 2022, the average maize yield in Sri Lanka shrank slightly to X tons per ha, waning by -4% on the previous year's figure. The yield figure increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 with an increase of 16% against the previous year. Over the period under review, the average maize yield attained the peak level at X tons per ha in 2021, and then declined slightly in the following year. 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 maize production in Sri Lanka reduced to X ha, with a decrease of -13.4% compared with the year before. Overall, the total harvested area indicated pronounced growth from 2012 to 2022: its figure increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, maize harvested area increased by +76.0% against 2017 indices. The most prominent rate of growth was recorded in 2021 with an increase of 36% against the previous year. As a result, the harvested area reached the peak level of X ha, and then contracted in the following year.

Maize Exports

Exports from Sri Lanka

In 2022, overseas shipments of maize were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, saw a deep reduction. The pace of growth was the most pronounced in 2018 with an increase of 959%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, maize exports amounted to $X in 2022. Overall, exports, however, showed a abrupt setback. The most prominent rate of growth was recorded in 2018 when exports increased by 665% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for maize exports from Sri Lanka, with a approx. 99.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan amounted to +45.5%.

In value terms, Japan ($X) emerged as the key foreign market for maize exports from Sri Lanka.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan totaled +71.5%.

Export Prices by Country

In 2022, the average maize export price amounted to $X per ton, which is down by -55.3% against the previous year. In general, the export price showed a perceptible slump. The most prominent rate of growth was recorded in 2015 when the average export price increased by 76% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Oman amounted to +21.3% per year.

Maize Imports

Imports into Sri Lanka

After two years of decline, purchases abroad of maize increased by 1,015% to X tons in 2022. Over the period under review, imports enjoyed a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 3,321% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, maize imports skyrocketed to $X in 2022. Overall, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 495%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

India (X tons), Pakistan (X tons) and Myanmar (X tons) were the main suppliers of maize imports to Sri Lanka, with a combined 99% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +75.1%), while imports for the other leaders experienced mixed trend patterns.

In value terms, India ($X) constituted the largest supplier of maize to Sri Lanka, comprising 69% of total imports. The second position in the ranking was taken by Pakistan ($X), with a 22% share of total imports. It was followed by Myanmar, with a 4.1% share.

From 2012 to 2022, the average annual growth rate of value from India amounted to +83.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (+7.9% per year) and Myanmar (-41.5% per year).

Import Prices by Country

The average maize import price stood at $X per ton in 2022, dropping by -48.1% against the previous year. Overall, the import price showed a abrupt decline. The most prominent rate of growth was recorded in 2020 when the average import price increased by 112%. 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 Ukraine ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+53.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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