Sri Lanka: Market for Wheat and Meslin Flour 2024

Market Size for Wheat and Meslin Flour in Sri Lanka

In 2022, the Sri Lankan wheat and meslin flour market increased by 77% to $X, rising for the second consecutive year after seven years of decline. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Wheat and Meslin Flour in Sri Lanka

In value terms, wheat and meslin flour production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a deep reduction. The most prominent rate of growth was recorded in 2021 when the production volume increased by 4.5%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Wheat and Meslin Flour

Exports from Sri Lanka

In 2022, the amount of wheat and meslin flour exported from Sri Lanka stood at X tons, remaining constant against 2021 figures. Overall, exports, however, recorded a deep downturn. The pace of growth appeared the most rapid in 2019 when exports increased by 346%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, wheat and meslin flour exports amounted to $X in 2022. In general, exports, however, continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2019 when exports increased by 69%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Singapore (X tons) was the main destination for wheat and meslin flour exports from Sri Lanka, accounting for a 47% share of total exports. Moreover, wheat and meslin flour exports to Singapore exceeded the volume sent to the second major destination, Malaysia (X tons), twofold. The third position in this ranking was taken by Maldives (X tons), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Singapore amounted to +9.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+31.5% per year) and Maldives (+19.6% per year).

In value terms, Singapore ($X), Malaysia ($X) and Maldives ($X) appeared to be the largest markets for wheat and meslin flour exported from Sri Lanka worldwide, with a combined 78% share of total exports. Thailand, India, Hong Kong SAR and Cambodia lagged somewhat behind, together accounting for a further 21%.

In terms of the main countries of destination, India, with a CAGR of +91.2%, saw the highest rates of growth with regard to 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

The average wheat and meslin flour export price stood at $X per ton in 2022, increasing by 5.4% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 195%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Singapore ($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 India (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wheat and Meslin Flour

Imports into Sri Lanka

In 2022, approx. X tons of wheat and meslin flour were imported into Sri Lanka; with an increase of 2,746% on the previous year. Overall, imports posted a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, wheat and meslin flour imports surged to $X in 2022. In general, imports continue to indicate a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Turkey (X tons) constituted the largest wheat and meslin flour supplier to Sri Lanka, accounting for a 65% share of total imports. Moreover, wheat and meslin flour imports from Turkey exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. The United Arab Emirates (X tons) ranked third in terms of total imports with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey stood at +244.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+41.5% per year) and the United Arab Emirates (+44.5% per year).

In value terms, the largest wheat and meslin flour suppliers to Sri Lanka were Turkey ($X), India ($X) and the United Arab Emirates ($X), together accounting for 97% of total imports.

Turkey, with a CAGR of +260.2%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wheat and meslin flour import price stood at $X per ton in 2022, which is down by -9.3% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 20% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 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 the United Arab Emirates ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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