Sri Lanka: Market for Prepared Or Preserved Crab Meat 2024

Market Size for Prepared Or Preserved Crab Meat in Sri Lanka

The Sri Lankan market for prepared or preserved crab meat reduced notably to $X in 2021, which is down by -35.4% against the previous year. Over the period under review, consumption continues to indicate a noticeable decrease. As a result, consumption reached the peak level of $X, and then reduced remarkably in the following year.

Production of Prepared Or Preserved Crab Meat in Sri Lanka

In value terms, prepared or preserved crab meat production rose markedly to $X in 2021 estimated in export price. Overall, the total production indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -15.7% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 30%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Exports of Prepared Or Preserved Crab Meat

Exports from Sri Lanka

In 2021, shipments abroad of prepared or preserved crab meat was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports saw a strong increase. The pace of growth was the most pronounced in 2017 when exports increased by 213%. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, prepared or preserved crab meat exports skyrocketed to $X in 2021. Over the period under review, exports showed a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for prepared or preserved crab meat exports from Sri Lanka, accounting for a 59% share of total exports. Moreover, prepared or preserved crab meat exports to the United States exceeded the volume sent to the second major destination, Indonesia (X tons), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +9.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+285.9% per year) and the UK (+45.0% per year).

In value terms, the United States ($X) remains the key foreign market for prepared or preserved crab meat exports from Sri Lanka, comprising 73% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 9.6% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +8.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+254.3% per year) and the UK (+48.4% per year).

Export Prices by Country

The average export price for prepared or preserved crab meat stood at $X per ton in 2021, shrinking by -18.2% against the previous year. In general, the export price saw a perceptible slump. The pace of growth appeared the most rapid in 2020 when the average export price increased by 56%. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the UK ($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 UK (+2.3%), while the prices for the other major destinations experienced a decline.

Imports of Prepared Or Preserved Crab Meat

Imports into Sri Lanka

In 2021, approx. X kg of prepared or preserved crab meat were imported into Sri Lanka; increasing by 25% compared with the year before. Overall, imports, however, recorded a perceptible shrinkage. The pace of growth was the most pronounced in 2015 with an increase of 432% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, prepared or preserved crab meat imports declined to $X in 2021. In general, imports, however, saw a dramatic contraction. The pace of growth appeared the most rapid in 2015 with an increase of 238% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

India (X kg), Singapore (X kg) and the Netherlands (X kg) were the main suppliers of prepared or preserved crab meat imports to Sri Lanka, with a combined 97% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of 0.0%), while imports for the other leaders experienced a decline.

In value terms, the largest prepared or preserved crab meat suppliers to Sri Lanka were India ($X), Singapore ($X) and Thailand ($X), with a combined 95% share of total imports. The Netherlands lagged somewhat behind, accounting for a further 5%.

In terms of the main suppliers, the Netherlands, with a CAGR of 0.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average import price for prepared or preserved crab meat amounted to $X per ton, reducing by -26.7% against the previous year. In general, the import price recorded a abrupt decline. The most prominent rate of growth was recorded in 2013 when the average import price increased by 7% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (-0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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