Sri Lanka: Dry Peas Market 2024

Dry Peas Market Size in Sri Lanka

The Sri Lankan dry peas market reduced rapidly to $X in 2021, falling by -31.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed a mild descent. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Dry Peas Exports

Exports from Sri Lanka

In 2021, the amount of peas (dry) exported from Sri Lanka shrank to X tons, which is down by -2.7% compared with 2020 figures. Over the period under review, exports showed a noticeable decline. The most prominent rate of growth was recorded in 2017 when exports increased by 649% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, dry peas exports amounted to $X in 2021. Overall, exports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2017 when exports increased by 1,127% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

South Africa (X tons) was the main destination for dry peas exports from Sri Lanka, accounting for a 42% share of total exports. Moreover, dry peas exports to South Africa exceeded the volume sent to the second major destination, Egypt (X tons), twofold. Nepal (X tons) ranked third in terms of total exports with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to South Africa amounted to +96.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (0.0% per year) and Nepal (-29.4% per year).

In value terms, South Africa ($X) emerged as the key foreign market for dry peas exports from Sri Lanka, comprising 41% of total exports. The second position in the ranking was held by Egypt ($X), with a 16% share of total exports. It was followed by Qatar, with a 10% share.

From 2012 to 2021, the average annual growth rate of value to South Africa stood at +29.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (0.0% per year) and Qatar (+3,973.8% per year).

Export Prices by Country

The average dry peas export price stood at $X per ton in 2021, rising by 3.7% against the previous year. In general, the export price, however, recorded a perceptible setback. The pace of growth appeared the most rapid in 2017 an increase of 64% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+11.0%), while the prices for the other major destinations experienced a decline.

Dry Peas Imports

Imports into Sri Lanka

Dry peas imports into Sri Lanka declined notably to X tons in 2021, waning by -35% on 2020. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 29%. Over the period under review, imports hit record highs at X tons in 2020, and then declined dramatically in the following year.

In value terms, dry peas imports shrank rapidly to $X in 2021. Over the period under review, imports saw a perceptible decline. The growth pace was the most rapid in 2020 with an increase of 35%. Imports peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Australia (X tons) constituted the largest dry peas supplier to Sri Lanka, with a 53% share of total imports. Moreover, dry peas imports from Australia exceeded the figures recorded by the second-largest supplier, Denmark (X tons), threefold. Russia (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2021, the average annual growth rate of volume from Australia amounted to -4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+26.5% per year) and Russia (+26.0% per year).

In value terms, Australia ($X) constituted the largest supplier of dry peas to Sri Lanka, comprising 53% of total imports. The second position in the ranking was taken by Russia ($X), with a 14% share of total imports. It was followed by Denmark, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Australia stood at -7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+22.5% per year) and Denmark (+20.7% per year).

Import Prices by Country

The average dry peas import price stood at $X per ton in 2021, with an increase of 9.2% against the previous year. Over the period under review, the import price, however, recorded a noticeable slump. The most prominent rate of growth was recorded in 2020 an increase of 16%. Over the period under review, average import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, the highest price was recorded for prices from the United States ($X per ton) and Australia ($X per ton), while the price for Denmark ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (-2.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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