Sri Lanka: Vegetable Market 2024

Vegetable Market Size in Sri Lanka

The Sri Lankan vegetable market fell to $X in 2022, approximately mirroring the previous year. Over the period under review, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. As a result, consumption reached the peak level of $X; afterwards, it flattened through to 2022.

Vegetable Production in Sri Lanka

In value terms, vegetable production expanded significantly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

The average yield of vegetables in Sri Lanka skyrocketed to X tons per ha in 2022, jumping by X% on the year before. Over the period under review, the yield showed a relatively flat trend pattern. Over the period under review, the average vegetable yield attained the maximum level at X tons per ha in 2020; however, from 2021 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of vegetables were harvested in Sri Lanka; with a decrease of X% compared with the previous year's figure. Over the period under review, the harvested area, however, saw a moderate increase. The pace of growth was the most pronounced in 2021 when the harvested area increased by X%. As a result, the harvested area attained the peak level of X ha, and then dropped notably in the following year.

Vegetable Exports

Exports from Sri Lanka

In 2022, approx. X tons of vegetables were exported from Sri Lanka; with a decrease of X% on the year before. In general, exports showed a pronounced decrease. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, vegetable exports shrank notably to $X in 2022. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Maldives (X tons) was the main destination for vegetable exports from Sri Lanka, accounting for a X% share of total exports. Moreover, vegetable exports to Maldives exceeded the volume sent to the second major destination, the UK (X tons), fourfold. The third position in this ranking was held by Qatar (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Maldives amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and Qatar (X% per year).

In value terms, the largest markets for vegetable exported from Sri Lanka were Maldives ($X), the UK ($X) and Switzerland ($X), together comprising X% of total exports.

In terms of the main countries of destination, the UK, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average vegetable export price amounted to $X per ton, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

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

Vegetable Imports

Imports into Sri Lanka

In 2022, the amount of vegetables imported into Sri Lanka expanded notably to X tons, with an increase of X% on 2021 figures. In general, total imports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, vegetable imports shrank to $X in 2022. Overall, total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

India (X tons), Pakistan (X tons) and China (X tons) were the main suppliers of vegetable imports to Sri Lanka, with a combined X% share of total imports. These countries were followed by Bangladesh, which accounted for a further X%.

From 2012 to 2022, the biggest increases were recorded for Bangladesh (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constituted the largest supplier of vegetables to Sri Lanka, comprising X% of total imports. The second position in the ranking was taken by Pakistan ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (X% per year) and China (X% per year).

Import Prices by Country

The average vegetable import price stood at $X per ton in 2022, shrinking by X% against the previous year. In general, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 an increase of X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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