Report Update Nov 1, 2024

Sri Lanka - Taro - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Taro (Cocoyam) Market 2024

Taro (Cocoyam) Market Size in Sri Lanka

In 2022, the Sri Lankan taro (cocoyam) market increased by 35% to $X, rising for the fourth consecutive year after three years of decline. Over the period under review, consumption showed a temperate expansion. Taro (cocoyam) consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Taro (Cocoyam) Production in Sri Lanka

In value terms, taro (cocoyam) production dropped modestly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, (cocoyam) production decreased by -6.6% against 2019 indices. The growth pace was the most rapid in 2018 with an increase of 18% against the previous year. Taro (cocoyam) production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

The average yield of taro in Sri Lanka stood at less than X kg per ha in 2022, leveling off at the previous year's figure. In general, the yield saw 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.

The taro (cocoyam) harvested area in Sri Lanka amounted to less than X ha in 2022, standing approx. at the previous year's figure. Overall, the harvested area showed a relatively flat trend pattern.

Taro (Cocoyam) Exports

Exports from Sri Lanka

In 2022, shipments abroad of taro decreased by -95.8% to X tons, falling for the fourth year in a row after three years of growth. In general, exports faced a significant contraction. The most prominent rate of growth was recorded in 2013 when exports increased by 121% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, taro (cocoyam) exports shrank rapidly to $X in 2022. Overall, exports faced a drastic downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 156% against the previous year. Over the period under review, the (cocoyam) exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons), Qatar (X tons) and Maldives (X kg) were the main destinations of taro (cocoyam) exports from Sri Lanka, with a combined 90% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Maldives (with a CAGR of +22.9%), while the other leaders experienced a decline.

In value terms, Qatar ($X), the United Arab Emirates ($X) and Maldives ($X) constituted the largest markets for taro (cocoyam) exported from Sri Lanka worldwide, together accounting for 94% of total exports.

Maldives, with a CAGR of +12.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average taro (cocoyam) export price amounted to $X per ton, rising by 219% against the previous year. Overall, the export price saw resilient growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to Bahrain ($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 Qatar (+89.2%), while the prices for the other major destinations experienced more modest paces of growth.

Taro (Cocoyam) Imports

Imports into Sri Lanka

After six years of decline, overseas purchases of taro increased by 12% to X kg in 2022. Overall, imports, however, showed a precipitous curtailment. The growth pace was the most rapid in 2015 when imports increased by 190% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of (cocoyam) imports failed to regain momentum.

In value terms, taro (cocoyam) imports rose markedly to $X in 2022. Over the period under review, imports, however, recorded a sharp shrinkage. The pace of growth appeared the most rapid in 2014 when imports increased by 165%. Over the period under review, (cocoyam) imports reached the maximum at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Singapore (X kg) was the main taro (cocoyam) supplier to Sri Lanka, with a approx. 100% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Singapore totaled -24.5%.

In value terms, Singapore ($X) constituted the largest supplier of taro to Sri Lanka.

From 2012 to 2022, the average annual rate of growth in terms of value from Singapore stood at -27.1%.

Import Prices by Country

The average taro (cocoyam) import price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Overall, the import price, however, saw a noticeable decline. The most prominent rate of growth was recorded in 2019 an increase of 12%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Singapore amounted to -3.5% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for taro in the world?

The countries with the highest volumes of taro cocoyam) consumption in 2020 were Nigeria, Cameroon and China, together comprising 56% of global consumption. These countries were followed by Ethiopia, Ghana, Papua New Guinea, Burundi, Madagascar and Rwanda, which together accounted for a further 31%.

What are the largest producers of taro in the world?

The countries with the highest volumes of taro cocoyam) production in 2020 were Nigeria, China and Cameroon, with a combined 57% share of global production. These countries were followed by Ethiopia, Ghana, Papua New Guinea and Burundi, which together accounted for a further 27%.

What are the leading suppliers of taro to Sri Lanka?

In value terms, Singapore $295) constituted the largest supplier of taro cocoyam) to Sri Lanka.

What are the leading importers of taro from Sri Lanka?

In value terms, the largest markets for taro cocoyam) exported from Sri Lanka were Kuwait, Bahrain and Saudi Arabia, together accounting for 91% of total exports.

What is the average export price for taro in Sri Lanka?

In 2020, the average taro cocoyam) export price amounted to $635 per ton, declining by -18.9% against the previous year.

What is the average import price for taro in Sri Lanka?

The average taro cocoyam) import price stood at $1,505 per ton in 2020, with an increase of 7.1% against the previous year.

This report provides an in-depth analysis of the taro (cocoyam) market in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 136 - Taro (Cocoyam)

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

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While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023