Sri Lanka: Meat Dishes Market 2024

Meat Dishes Market Size in Sri Lanka

The Sri Lankan meat dishes market fell slightly to $X in 2022, declining by -3.4% against the previous year. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Meat dishes consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Meat Dishes Production in Sri Lanka

In value terms, meat dishes production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.9% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when the production volume increased by 28%. Meat dishes production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Meat Dishes Exports

Exports from Sri Lanka

In 2022, the amount of meat dishes exported from Sri Lanka declined slightly to X tons, remaining relatively unchanged against the previous year. In general, exports saw a noticeable shrinkage. The growth pace was the most rapid in 2018 with an increase of 40% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, meat dishes exports amounted to $X in 2022. Over the period under review, total exports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +65.9% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 47% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

India (X tons), Maldives (X tons) and Japan (X tons) were the main destinations of meat dishes exports from Sri Lanka, together accounting for 100% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of +230.6%), while the other leaders experienced more modest paces of growth.

In value terms, Maldives ($X), India ($X) and Japan ($X) were the largest markets for meat dishes exported from Sri Lanka worldwide, with a combined 100% share of total exports.

Japan, with a CAGR of +229.8%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average meat dishes export price stood at $X per ton in 2022, increasing by 14% against the previous year. In general, export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, meat dishes export price increased by +27.1% against 2020 indices. The pace of growth appeared the most rapid in 2015 an increase of 36% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Seychelles (+14.2%), while the prices for the other major destinations experienced more modest paces of growth.

Meat Dishes Imports

Imports into Sri Lanka

In 2022, the amount of meat dishes imported into Sri Lanka shrank dramatically to X tons, which is down by -60.5% compared with the previous year. Overall, imports recorded a pronounced descent. The most prominent rate of growth was recorded in 2021 when imports increased by 169% against the previous year. As a result, imports attained the peak of X tons, and then declined rapidly in the following year.

In value terms, meat dishes imports shrank dramatically to $X in 2022. Over the period under review, imports saw a slight curtailment. The growth pace was the most rapid in 2021 with an increase of 117% against the previous year. As a result, imports reached the peak of $X, and then contracted dramatically in the following year.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest meat dishes supplier to Sri Lanka, with a 52% share of total imports. Moreover, meat dishes imports from Malaysia exceeded the figures recorded by the second-largest supplier, Australia (X tons), twofold. The United States (X tons) ranked third in terms of total imports with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia stood at +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+7.6% per year) and the United States (-9.3% per year).

In value terms, Malaysia ($X) constituted the largest supplier of meat dishes to Sri Lanka, comprising 56% of total imports. The second position in the ranking was taken by the United States ($X), with a 20% share of total imports. It was followed by Australia, with a 14% share.

From 2012 to 2022, the average annual growth rate of value from Malaysia stood at +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-8.1% per year) and Australia (+4.4% per year).

Import Prices by Country

In 2022, the average meat dishes import price amounted to $X per ton, picking up by 11% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 27%. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a somewhat 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 Singapore ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+32.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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