Sri Lanka: Oil Crops Market 2024

Oil Crops Market Size in Sri Lanka

The Sri Lankan oil crops market contracted to $X in 2022, shrinking by X% against the previous year. Over the period under review, the total consumption indicated slight growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Oil crops consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Oil Crops Production in Sri Lanka

In value terms, oil crops production dropped to $X in 2022 estimated in export price. Over the period under review, the total production indicated modest growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

The average yield of oil crops (primary) in Sri Lanka fell to X tons per ha in 2022, waning by X% against 2021. Over the period under review, the yield continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, the yield attained the peak level of X tons per ha, and then fell 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.

The oil crops harvested area in Sri Lanka reached X ha in 2022, increasing by X% on the previous year's figure. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when the harvested area increased by X% against the previous year. Over the period under review, the harvested area dedicated to oil crops production attained the peak figure at X ha in 2020; however, from 2021 to 2022, the harvested area failed to regain momentum.

Oil Crops Exports

Exports from Sri Lanka

Oil crops exports from Sri Lanka contracted to X tons in 2022, which is down by X% against 2021 figures. In general, exports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of X%. The exports peaked at X tons in 2021, and then fell in the following year.

In value terms, oil crops exports soared to $X in 2022. Over the period under review, total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United Arab Emirates (X tons) was the main destination for oil crops exports from Sri Lanka, accounting for a X% share of total exports. Moreover, oil crops exports to the United Arab Emirates exceeded the volume sent to the second major destination, Pakistan (X tons), twofold. The third position in this ranking was held by Japan (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (X% per year) and Japan (X% per year).

In value terms, the largest markets for oil crops exported from Sri Lanka were the United Arab Emirates ($X), Japan ($X) and Taiwan (Chinese) ($X), with a combined X% share of total exports.

The United Arab Emirates, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of 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 oil crops export price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to the United Arab Emirates ($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 the United Arab Emirates (X%), while the prices for the other major destinations experienced more modest paces of growth.

Oil Crops Imports

Imports into Sri Lanka

Oil crops imports into Sri Lanka contracted dramatically to X tons in 2022, waning by X% against 2021 figures. Over the period under review, imports, however, posted resilient growth. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Imports peaked at X tons in 2021, and then shrank significantly in the following year.

In value terms, oil crops imports shrank remarkably to $X in 2022. Overall, imports, however, enjoyed a buoyant expansion. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Imports peaked at $X in 2021, and then fell dramatically in the following year.

Imports by Country

In 2022, India (X tons) was the main oil crops supplier to Sri Lanka, with a X% share of total imports. It was followed by Togo (X kg), with less than X% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from India stood at X%.

In value terms, India ($X) constituted the largest supplier of oil crops (primary) to Sri Lanka, comprising X% of total imports. The second position in the ranking was held by Togo ($X), with less than X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from India totaled X%.

Import Prices by Country

The average oil crops import price stood at $X per ton in 2022, jumping by X% against the previous year. Over the period under review, the import price, however, showed a slight downturn. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood 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 India ($X per ton), while the price for Togo totaled $X per ton.

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

Source: IndexBox Platform

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