Sri Lanka: Preserved Salmon Market 2024

Preserved Salmon Market Size in Sri Lanka

In 2021, the Sri Lankan preserved salmon market decreased by -5.9% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption, however, showed a slight setback. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Preserved Salmon Production in Sri Lanka

In value terms, preserved salmon production reduced to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 33%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Preserved Salmon Exports

Exports from Sri Lanka

In 2021, shipments abroad of salmon (prepared or preserved) decreased by -63.6% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports showed a abrupt slump. The pace of growth appeared the most rapid in 2019 when exports increased by 846% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, preserved salmon exports reduced remarkably to $X in 2021. In general, exports showed a dramatic curtailment. The growth pace was the most rapid in 2019 when exports increased by 1,388%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Australia (X kg) was the main destination for preserved salmon exports from Sri Lanka, accounting for a 71% share of total exports. Moreover, preserved salmon exports to Australia exceeded the volume sent to the second major destination, Kuwait (X kg), fivefold. Jordan (X kg) ranked third in terms of total exports with a 5% share.

From 2012 to 2021, the average annual growth rate of volume to Australia amounted to +3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (-2.3% per year) and Jordan (-27.9% per year).

In value terms, Australia ($X), Kuwait ($X) and Jordan ($X) appeared to be the largest markets for preserved salmon exported from Sri Lanka worldwide, together comprising 87% of total exports.

Among the main countries of destination, Australia, with a CAGR of +1.5%, 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 a decline.

Export Prices by Country

The average preserved salmon export price stood at $X per ton in 2021, which is down by -17.1% against the previous year. In general, the export price recorded a noticeable setback. The pace of growth was the most pronounced in 2019 when the average export price increased by 58%. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Ireland ($X per ton), while the average price for exports to Bahrain ($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 Ireland (+23.1%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Salmon Imports

Imports into Sri Lanka

In 2021, the amount of salmon (prepared or preserved) imported into Sri Lanka contracted to X tons, which is down by -7.8% compared with 2020 figures. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 71% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, preserved salmon imports declined to $X in 2021. In general, imports showed a pronounced descent. The pace of growth appeared the most rapid in 2018 with an increase of 69% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Denmark (X kg), the UK (X kg) and Thailand (X kg) were the main suppliers of preserved salmon imports to Sri Lanka, with a combined 84% share of total imports. New Zealand, Singapore, Norway, China and the United Arab Emirates lagged somewhat behind, together comprising a further 11%.

From 2012 to 2021, the biggest increases were recorded for Norway (with a CAGR of +29.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) constituted the largest supplier of salmon (prepared or preserved) to Sri Lanka, comprising 52% of total imports. The second position in the ranking was held by Denmark ($X), with a 12% share of total imports. It was followed by Thailand, with a 9.5% share.

From 2012 to 2021, the average annual growth rate of value from the UK amounted to +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+0.7% per year) and Thailand (-6.7% per year).

Import Prices by Country

In 2021, the average preserved salmon import price amounted to $X per ton, remaining constant against the previous year. Overall, the import price recorded a perceptible curtailment. The growth pace was the most rapid in 2016 when the average import price increased by 14% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+14.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :