Sri Lanka: Preserved Tuna Market 2024

Preserved Tuna Market Size in Sri Lanka

The Sri Lankan preserved tuna market reached $X in 2021, with an increase of 1.6% against the previous year. Overall, consumption, however, enjoyed a resilient expansion. Over the period under review, the market attained the peak level in 2021 and is likely to see steady growth in the near future.

Preserved Tuna Production in Sri Lanka

In value terms, preserved tuna production amounted to $X in 2021 estimated in export price. Overall, production, however, enjoyed resilient growth. The pace of growth was the most pronounced in 2019 when the production volume increased by 39%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Preserved Tuna Exports

Exports from Sri Lanka

In 2021, approx. X tons of tuna (prepared or preserved) were exported from Sri Lanka; falling by -81.6% against the previous year's figure. Overall, exports saw a dramatic curtailment. The pace of growth appeared the most rapid in 2013 when exports increased by 265% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, preserved tuna exports declined significantly to $X in 2021. Over the period under review, exports continue to indicate a sharp shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of 253%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Oman (X tons) was the main destination for preserved tuna exports from Sri Lanka, with a 93% share of total exports. It was followed by the Czech Republic (X kg), with a 2.6% share of total exports. Slovakia (X kg) ranked third in terms of total exports with a 2.6% share.

From 2012 to 2021, the average annual growth rate of volume to Oman totaled +3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+24.3% per year) and Slovakia (-78.6% per year).

In value terms, Oman ($X) remains the key foreign market for tuna (prepared or preserved) exports from Sri Lanka, comprising 70% of total exports. The second position in the ranking was held by Slovakia ($X), with a 13% share of total exports. It was followed by the Czech Republic, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Oman amounted to +36.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (-85.1% per year) and the Czech Republic (+11.3% per year).

Export Prices by Country

In 2021, the average preserved tuna export price amounted to $X per ton, almost unchanged from the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average export price increased by 42%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Slovakia ($X per ton), while the average price for exports to Saudi Arabia ($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 Oman (+31.7%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Tuna Imports

Imports into Sri Lanka

In 2021, overseas purchases of tuna (prepared or preserved) were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 252%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, preserved tuna imports surged to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 285% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Thailand (X tons) was the main supplier of preserved tuna to Sri Lanka, with a 98% share of total imports. It was followed by the United Arab Emirates (X tons), with a 2% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Thailand amounted to +1.4%.

In value terms, Thailand ($X) constituted the largest supplier of tuna (prepared or preserved) to Sri Lanka, comprising 98% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 1.8% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Thailand stood at +2.8%.

Import Prices by Country

The average preserved tuna import price stood at $X per ton in 2021, with a decrease of -4.6% against the previous year. Over the last nine years, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 44% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for the United Arab Emirates amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+16.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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