Sri Lanka: Thiosulphates Market 2024

Thiosulphates Market Size in Sri Lanka

The Sri Lankan thiosulphates market rose rapidly to $X in 2021, with an increase of 7.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a noticeable downturn. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Thiosulphates Exports

Exports from Sri Lanka

Thiosulphates exports from Sri Lanka soared to X tons in 2021, with an increase of 473% on 2020 figures. Overall, exports enjoyed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, thiosulphates exports soared to $X in 2021. In general, exports posted a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Bangladesh (X tons) was the main destination for thiosulphates exports from Sri Lanka, accounting for a 85% share of total exports. Moreover, thiosulphates exports to Bangladesh exceeded the volume sent to the second major destination, Ethiopia (X tons), ninefold. China (X tons) ranked third in terms of total exports with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Bangladesh amounted to +450.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ethiopia (0.0% per year) and China (0.0% per year).

In value terms, Bangladesh ($X) remains the key foreign market for thiosulphates exports from Sri Lanka, comprising 92% of total exports. The second position in the ranking was taken by Ethiopia ($X), with a 5.4% share of total exports. It was followed by China, with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Bangladesh totaled +265.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ethiopia (0.0% per year) and China (0.0% per year).

Export Prices by Country

The average thiosulphates export price stood at $X per ton in 2021, reducing by -35.5% against the previous year. In general, the export price recorded a abrupt decrease. The most prominent rate of growth was recorded in 2020 an increase of 161%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bangladesh ($X per ton), while the average price for exports to Indonesia ($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 Maldives (-20.4%), while the prices for the other major destinations experienced a decline.

Thiosulphates Imports

Imports into Sri Lanka

In 2021, the amount of thiosulphates imported into Sri Lanka skyrocketed to X tons, rising by 26% on the previous year. Overall, imports, however, recorded a pronounced descent. The most prominent rate of growth was recorded in 2017 when imports increased by 28% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, thiosulphates imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +48.4% against 2018 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 50%. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of thiosulphates to Sri Lanka, accounting for a 76% share of total imports. Moreover, thiosulphates imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+17.8% per year) and the Netherlands (+298.1% per year).

In value terms, China ($X) constituted the largest supplier of thiosulphates to Sri Lanka, comprising 69% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 7.2% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to -1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+349.4% per year) and Malaysia (+21.7% per year).

Import Prices by Country

In 2021, the average thiosulphates import price amounted to $X per ton, growing by 12% against the previous year. Overall, import price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, thiosulphates import price increased by +29.5% against 2016 indices. The most prominent rate of growth was recorded in 2016 an increase of 57% against the previous year. The import price peaked in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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