Sri Lanka: Wood Charcoal Market 2024

Wood Charcoal Market Size in Sri Lanka

In 2021, after two years of decline, there was significant growth in the Sri Lankan wood charcoal market, when its value increased by 62% to $X. In general, consumption continues to indicate a prominent expansion. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Wood Charcoal Production in Sri Lanka

In value terms, wood charcoal production expanded markedly to $X in 2021 estimated in export price. Overall, the total production indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -29.4% against 2018 indices. The growth pace was the most rapid in 2018 with an increase of 59% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Wood Charcoal Exports

Exports from Sri Lanka

In 2021, after two years of growth, there was significant decline in shipments abroad of wood charcoal, when their volume decreased by -39.3% to X tons. In general, exports, however, saw a slight increase. The pace of growth appeared the most rapid in 2019 when exports increased by 125%. The exports peaked at X tons in 2020, and then dropped significantly in the following year.

In value terms, wood charcoal exports shrank markedly to $X in 2021. Overall, exports, however, recorded a notable increase. The pace of growth appeared the most rapid in 2017 with an increase of 84% against the previous year. The exports peaked at $X in 2020, and then reduced markedly in the following year.

Exports by Country

The Netherlands (X tons) was the main destination for wood charcoal exports from Sri Lanka, accounting for a 38% share of total exports. Moreover, wood charcoal exports to the Netherlands exceeded the volume sent to the second major destination, South Korea (X tons), twofold. Vietnam (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Netherlands stood at -3.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+14.6% per year) and Vietnam (+6.5% per year).

In value terms, the Netherlands ($X) remains the key foreign market for wood charcoal exports from Sri Lanka, comprising 40% of total exports. The second position in the ranking was taken by South Korea ($X), with an 11% share of total exports. It was followed by Japan, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to the Netherlands was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+16.1% per year) and Japan (+2.5% per year).

Export Prices by Country

The average wood charcoal export price stood at $X per ton in 2021, with an increase of 34% against the previous year. Over the last nine years, it increased at an average annual rate of +2.6%. The growth pace was the most rapid in 2018 an increase of 49%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Croatia ($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 the United Arab Emirates (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Charcoal Imports

Imports into Sri Lanka

In 2021, purchases abroad of wood charcoal increased by 59% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 182% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, wood charcoal imports soared to $X in 2021. In general, imports continue to indicate modest growth. The pace of growth was the most pronounced in 2018 with an increase of 175%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

India (X tons), Indonesia (X tons) and Singapore (X tons) were the main suppliers of wood charcoal imports to Sri Lanka, with a combined 99% share of total imports.

From 2012 to 2021, the biggest increases were in Singapore (with a CAGR of +34.7%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, India ($X), Indonesia ($X) and Singapore ($X) were the largest wood charcoal suppliers to Sri Lanka, with a combined 99% share of total imports.

Among the main suppliers, Singapore, with a CAGR of +33.7%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average wood charcoal import price amounted to $X per ton, growing by 26% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.0%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was India ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+2.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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