Sri Lanka: Sugar Beet Market 2025

Sugar Beet Market Size in Sri Lanka

The Sri Lankan sugar beet market reached $X in 2022, picking up by 8.5% against the previous year. Over the period under review, consumption posted a tangible increase. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Sugar Beet Production in Sri Lanka

In value terms, sugar beet production expanded notably to $X in 2022 estimated in export price. Overall, production showed a resilient increase. The growth pace was the most rapid in 2020 when the production volume increased by 60% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

In 2022, the average sugar beet yield in Sri Lanka totaled less than X kg per ha, almost unchanged from the year before. In general, the yield recorded a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. less than X ha of sugar beet were harvested in Sri Lanka; therefore, remained relatively stable against the year before. In general, the harvested area showed a relatively flat trend pattern.

Sugar Beet Exports

Exports from Sri Lanka

Sugar beet exports from Sri Lanka dropped remarkably to X kg in 2022, shrinking by -24.6% against 2021. In general, exports recorded a abrupt slump. The growth pace was the most rapid in 2015 when exports increased by 704%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, sugar beet exports fell remarkably to $X in 2022. Over the period under review, exports, however, recorded a temperate increase. The growth pace was the most rapid in 2015 with an increase of 735% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Maldives (X kg) was the main destination for sugar beet exports from Sri Lanka, with a 78% share of total exports. Moreover, sugar beet exports to Maldives exceeded the volume sent to the second major destination, Switzerland (X kg), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Maldives totaled -11.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+3.1% per year) and Singapore (0.0% per year).

In value terms, Maldives ($X) remains the key foreign market for sugar beet exports from Sri Lanka, comprising 86% of total exports. The second position in the ranking was taken by Switzerland ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Maldives totaled +10.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (-10.2% per year) and Singapore (0.0% per year).

Export Prices by Country

The average sugar beet export price stood at $X per ton in 2022, approximately mirroring the previous year. Overall, the export price, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2020 when the average export price increased by 74%. The export price peaked at $X per ton in 2021, and then fell in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Maldives (+24.7%).

Sugar Beet Imports

Imports into Sri Lanka

In 2022, overseas purchases of sugar beet decreased by -37.7% to X kg, falling for the fifth year in a row after two years of growth. Overall, imports faced a dramatic contraction. The growth pace was the most rapid in 2016 when imports increased by 506%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, sugar beet imports shrank remarkably to $X in 2022. In general, imports recorded a significant decrease. The most prominent rate of growth was recorded in 2016 when imports increased by 429%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X kg) was the main sugar beet supplier to Sri Lanka, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from India totaled -27.1%.

In value terms, India ($X) constituted the largest supplier of sugar beet to Sri Lanka.

From 2012 to 2022, the average annual growth rate of value from India stood at -29.0%.

Import Prices by Country

The average sugar beet import price stood at $X per ton in 2022, shrinking by -60.5% against the previous year. In general, the import price showed a perceptible contraction. The most prominent rate of growth was recorded in 2018 an increase of 296% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to -2.6% per year.

Source: IndexBox Platform

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