Sri Lanka: Market for Natural Rubber And Gums 2025

Market Size for Natural Rubber And Gums in Sri Lanka

In 2022, the Sri Lankan natural rubber and gum market increased by 4.7% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, recorded a abrupt contraction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Natural Rubber And Gums in Sri Lanka

In value terms, natural rubber and gum production fell to $X in 2022 estimated in export price. In general, production, however, showed a abrupt setback. The most prominent rate of growth was recorded in 2018 when the production volume increased by 112% against the previous year. Natural rubber and gum production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

In 2022, the average yield of natural rubber and gums in Sri Lanka reached X kg per ha, standing approx. at 2021 figures. Overall, the yield, however, recorded a abrupt curtailment. The growth pace was the most rapid in 2020 with an increase of 4.9% against the previous year. Over the period under review, the average natural rubber and gum yield reached the peak level at X tons per ha in 2012; however, from 2013 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The natural rubber and gum harvested area in Sri Lanka fell modestly to X ha in 2022, leveling off at 2021. Overall, the harvested area, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the harvested area increased by 13% against the previous year. The natural rubber and gum harvested area peaked at X ha in 2021, and then reduced slightly in the following year.

Exports of Natural Rubber And Gums

Exports from Sri Lanka

After two years of growth, overseas shipments of natural rubber and gums decreased by -84.3% to X tons in 2022. Over the period under review, exports recorded a abrupt slump. The growth pace was the most rapid in 2016 when exports increased by 459%. Over the period under review, the exports hit record highs at X tons in 2021, and then declined significantly in the following year.

In value terms, natural rubber and gum exports contracted remarkably to $X in 2022. In general, exports saw a abrupt decrease. The pace of growth appeared the most rapid in 2016 with an increase of 580%. Over the period under review, the exports hit record highs at $X in 2021, and then dropped notably in the following year.

Exports by Country

Malaysia (X tons) was the main destination for natural rubber and gum exports from Sri Lanka, accounting for a 66% share of total exports. Moreover, natural rubber and gum exports to Malaysia exceeded the volume sent to the second major destination, Pakistan (X tons), threefold. Vietnam (X tons) ranked third in terms of total exports with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Malaysia totaled +261.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (-8.3% per year) and Vietnam (+17.6% per year).

In value terms, Malaysia ($X) remains the key foreign market for natural rubber and gums exports from Sri Lanka, comprising 55% of total exports. The second position in the ranking was held by Pakistan ($X), with a 25% share of total exports. It was followed by Vietnam, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to Malaysia stood at +232.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (-14.3% per year) and Vietnam (+16.5% per year).

Export Prices by Country

The average natural rubber and gum export price stood at $X per ton in 2022, waning by -33.8% against the previous year. Over the period under review, the export price recorded a abrupt downturn. The most prominent rate of growth was recorded in 2018 when the average export price increased by 113% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Malaysia ($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 Brazil (+11.3%), while the prices for the other major destinations experienced a decline.

Imports of Natural Rubber And Gums

Imports into Sri Lanka

For the fourth consecutive year, Sri Lanka recorded growth in overseas purchases of natural rubber and gums, which increased by 2% to X tons in 2022. In general, imports recorded a prominent increase. The most prominent rate of growth was recorded in 2014 with an increase of 201%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, natural rubber and gum imports soared to $X in 2022. Overall, imports posted a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 115% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

Thailand (X tons), Vietnam (X tons) and Malaysia (X tons) were the main suppliers of natural rubber and gum imports to Sri Lanka, together comprising 95% of total imports. These countries were followed by Singapore, which accounted for a further 2.2%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Singapore (with a CAGR of +191.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest natural rubber and gum suppliers to Sri Lanka were Thailand ($X), Vietnam ($X) and Malaysia ($X), with a combined 95% share of total imports. These countries were followed by Singapore, which accounted for a further 2%.

Singapore, with a CAGR of +173.8%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average natural rubber and gum import price amounted to $X per ton, surging by 14% against the previous year. Over the period under review, the import price, however, saw a noticeable descent. The pace of growth was the most pronounced in 2017 when the average import price increased by 28% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Thailand ($X per ton) and Malaysia ($X per ton), while the price for Singapore ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (-2.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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