Sri Lanka: Preserved Cows Meat Market 2024

Preserved Cows Meat Market Size in Sri Lanka

The Sri Lankan preserved cows meat market rose notably to $X in 2021, increasing by 9.8% against the previous year. The market value increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Preserved Cows Meat Production in Sri Lanka

In value terms, preserved cows meat production rose remarkably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the production volume increased by 26% against the previous year. Preserved cows meat production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Preserved Cows Meat Exports

Exports from Sri Lanka

Preserved cows meat exports from Sri Lanka amounted to X tons in 2021, increasing by 9.9% on 2020. In general, exports showed a strong increase. The most prominent rate of growth was recorded in 2018 when exports increased by 116%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, preserved cows meat exports fell slightly to $X in 2021. Over the period under review, exports enjoyed notable growth. The pace of growth was the most pronounced in 2013 with an increase of 71% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Maldives (X tons) was the main destination for preserved cows meat exports from Sri Lanka, accounting for a approx. 99% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Maldives amounted to +10.5%.

In value terms, Maldives ($X) also remains the key foreign market for prepared or preserved meat or offal of bovine animals exports from Sri Lanka.

From 2012 to 2021, the average annual rate of growth in terms of value to Maldives totaled +3.6%.

Export Prices by Country

In 2021, the average preserved cows meat export price amounted to $X per ton, declining by -11.4% against the previous year. In general, the export price recorded a drastic downturn. The growth pace was the most rapid in 2019 an increase of 21% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Maldives.

From 2012 to 2021, the rate of growth in terms of prices for Maldives amounted to -6.3% per year.

Preserved Cows Meat Imports

Imports into Sri Lanka

In 2021, preserved cows meat imports into Sri Lanka dropped to X tons, with a decrease of -7.4% on 2020. Overall, total imports indicated a moderate increase from 2012 to 2021: its volume increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +9.9% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 29% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, preserved cows meat imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Australia (X tons) constituted the largest preserved cows meat supplier to Sri Lanka, accounting for a 36% share of total imports. Moreover, preserved cows meat imports from Australia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), threefold. The third position in this ranking was taken by the United Arab Emirates (X kg), with a 3% share.

From 2012 to 2021, the average annual growth rate of volume from Australia stood at +12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-13.7% per year) and the United Arab Emirates (+28.0% per year).

In value terms, Australia ($X), Malaysia ($X) and the United Arab Emirates ($X) were the largest preserved cows meat suppliers to Sri Lanka, with a combined 54% share of total imports. Saudi Arabia, Brazil, Singapore and China lagged somewhat behind, together comprising a further 8.6%.

Among the main suppliers, Brazil, with a CAGR of +120.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average preserved cows meat import price amounted to $X per ton, picking up by 52% against the previous year. Over the period under review, import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+30.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :