Sri Lanka: Market for Smoked Fish Other than Salmon and Herring 2024

Market Size for Smoked Fish Other than Salmon and Herring in Sri Lanka

The Sri Lankan market for smoked fish other than salmon and herring expanded to $X in 2021, picking up by 3.8% against the previous year. Over the period under review, consumption, however, posted resilient growth. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Smoked Fish Other than Salmon and Herring in Sri Lanka

In value terms, production of smoked fish other than salmon and herring rose to $X in 2021 estimated in export price. Overall, production, however, posted a prominent expansion. The pace of growth was the most pronounced in 2018 with an increase of 53% against the previous year. Production of peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Smoked Fish Other than Salmon and Herring

Exports from Sri Lanka

In 2021, shipments abroad of smoked fish other than salmon and herring decreased by -17.2% to X kg, falling for the fourth year in a row after two years of growth. Over the period under review, exports saw a abrupt contraction. The most prominent rate of growth was recorded in 2013 when exports increased by 188% against the previous year. Over the period under review, the exports of attained the maximum at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, exports of smoked fish other than salmon and herring contracted to $X in 2021. Overall, exports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2013 when exports increased by 176%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Australia (X kg), Qatar (X kg) and the United States (X kg) were the main destinations of exports of smoked fish other than salmon and herring from Sri Lanka, with a combined 64% share of total exports. These countries were followed by South Korea, Kuwait, Maldives, Italy, Zambia, Japan, Switzerland, Lebanon, Cyprus and the UK, which together accounted for a further 34%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Switzerland (with a CAGR of +200.0%), while the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) remains the key foreign market for smoked fish other than salmon and herring exports from Sri Lanka, comprising 42% of total exports. The second position in the ranking was held by the United States ($X), with an 18% share of total exports. It was followed by South Korea, with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Australia amounted to +34.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-19.0% per year) and South Korea (-7.6% per year).

Export Prices by Country

The average export price for smoked fish other than salmon and herring stood at $X per ton in 2021, increasing by 3.7% against the previous year. Over the period under review, the export price continues to indicate moderate growth. The growth pace was the most rapid in 2018 when the average export price increased by 57%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Maldives ($X per ton), while the average price for exports to Zambia ($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 Lebanon (+12.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Smoked Fish Other than Salmon and Herring

Imports into Sri Lanka

In 2021, the amount of smoked fish other than salmon and herring imported into Sri Lanka skyrocketed to X tons, picking up by 75% compared with the previous year's figure. Over the period under review, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 6,034%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports of remained at a lower figure.

In value terms, imports of smoked fish other than salmon and herring skyrocketed to $X in 2021. In general, imports, however, showed a pronounced setback. The pace of growth was the most pronounced in 2018 when imports increased by 3,860% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports of failed to regain momentum.

Imports by Country

Thailand (X tons), Indonesia (X tons) and Pakistan (X tons) were the main suppliers of imports of smoked fish other than salmon and herring to Sri Lanka, together comprising 97% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Pakistan (with a CAGR of +33.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) constituted the largest supplier of smoked fish other than salmon and herring to Sri Lanka, comprising 53% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 23% share of total imports. It was followed by Pakistan, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from Thailand totaled -2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+7.4% per year) and Pakistan (-1.6% per year).

Import Prices by Country

In 2021, the average import price for smoked fish other than salmon and herring amounted to $X per ton, dropping by -1.6% against the previous year. Over the period under review, the import price continues to indicate a abrupt slump. The pace of growth was the most pronounced in 2014 an increase of 56%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Thailand ($X per ton), while the price for India ($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 (-14.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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