Sri Lanka: Potato Market 2024

Potato Market Size in Sri Lanka

The Sri Lankan potato market reduced to $X in 2021, waning by -5.3% against the previous year. The market value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Potato Production in Sri Lanka

In value terms, potato production rose markedly to $X in 2021 estimated in export price. In general, production posted a prominent increase. The pace of growth appeared the most rapid in 2014 when the production volume increased by 202% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

The average yield of potatoes in Sri Lanka rose to X tons per ha in 2021, increasing by 1.5% on the previous year's figure. The yield figure increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 8.9% against the previous year. As a result, the yield attained the peak level of X tons per ha. From 2020 to 2021, the growth of the average potato yield remained 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 potato harvested area in Sri Lanka soared to X ha in 2021, growing by 26% on 2020 figures. Overall, the harvested area, however, showed a relatively flat trend pattern. Over the period under review, the harvested area dedicated to potato production attained the peak figure at X ha in 2019; however, from 2020 to 2021, the harvested area remained at a lower figure.

Potato Exports

Exports from Sri Lanka

In 2021, overseas shipments of potatoes increased by 123% to X tons, rising for the sixth consecutive year after two years of decline. Over the period under review, exports posted significant growth. The growth pace was the most rapid in 2016 with an increase of 324%. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in the immediate term.

In value terms, potato exports expanded rapidly to $X in 2021. Overall, exports recorded a significant increase. The pace of growth was the most pronounced in 2016 with an increase of 236% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons), the United Arab Emirates (X tons) and Kuwait (X tons) were the main destinations of potato exports from Sri Lanka, together accounting for 95% of total exports. These countries were followed by Maldives and Belgium, which together accounted for a further 4.4%.

From 2012 to 2021, the biggest increases were in Maldives (with a CAGR of +58.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for potato exported from Sri Lanka were the United States ($X), Kuwait ($X) and the United Arab Emirates ($X), together accounting for 91% of total exports. Belgium and Maldives lagged somewhat behind, together accounting for a further 7.5%.

In terms of the main countries of destination, Maldives, with a CAGR of +62.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average potato export price amounted to $X per ton, shrinking by -49.4% against the previous year. Overall, the export price continues to indicate a slight decrease. The most prominent rate of growth was recorded in 2018 an increase of 44%. The export price peaked at $X per ton in 2020, and then shrank rapidly in the following year.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Belgium ($X per ton), while the average price for exports to the United Arab Emirates ($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 Kuwait (+9.5%), while the prices for the other major destinations experienced mixed trend patterns.

Potato Imports

Imports into Sri Lanka

In 2021, overseas purchases of potatoes decreased by -24% to X tons, falling for the third year in a row after two years of growth. In general, imports saw a mild curtailment. The pace of growth appeared the most rapid in 2017 with an increase of 25% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, potato imports contracted notably to $X in 2021. The total import value increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 39%. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Pakistan (X tons) constituted the largest supplier of potato to Sri Lanka, with a 60% share of total imports. Moreover, potato imports from Pakistan exceeded the figures recorded by the second-largest supplier, Bangladesh (X tons), fivefold. The third position in this ranking was taken by India (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Pakistan totaled -2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Bangladesh (+12.8% per year) and India (-3.0% per year).

In value terms, Pakistan ($X) constituted the largest supplier of potato to Sri Lanka, comprising 55% of total imports. The second position in the ranking was taken by India ($X), with a 14% share of total imports. It was followed by China, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Pakistan stood at +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-2.1% per year) and China (-3.3% per year).

Import Prices by Country

In 2021, the average potato import price amounted to $X per ton, picking up by 1.9% against the previous year. Over the last nine years, it increased at an average annual rate of +2.6%. The pace of growth was the most pronounced in 2014 when the average import price increased by 28%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the Netherlands ($X per ton), while the price for Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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