Sri Lanka: Yams Market 2024

Yams Market Size in Sri Lanka

In 2022, the Sri Lankan yams market increased by 0.2% to $X, rising for the third consecutive year after two years of decline. Over the period under review, consumption, however, recorded a mild curtailment. Yams consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Yams Production in Sri Lanka

In value terms, yams production shrank slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when the production volume increased by 34%. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

The average yield of yams in Sri Lanka totaled less than X kg per ha in 2022, stabilizing at the previous year. Overall, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. less than X ha of yams were harvested in Sri Lanka; remaining stable against 2021 figures. Overall, the harvested area saw a relatively flat trend pattern.

Yams Exports

Exports from Sri Lanka

In 2022, shipments abroad of yams decreased by -0.8% to X tons, falling for the third year in a row after four years of growth. In general, exports, however, posted a tangible expansion. The pace of growth appeared the most rapid in 2016 with an increase of 2,468%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, yams exports declined notably to $X in 2022. Over the period under review, exports, however, posted a noticeable expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 2,508%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Canada (X tons) was the main destination for yams exports from Sri Lanka, accounting for a 92% share of total exports. Moreover, yams exports to Canada exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), more than tenfold. Maldives (X tons) ranked third in terms of total exports with a 0.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada stood at +9.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-11.2% per year) and Maldives (-20.1% per year).

In value terms, Canada ($X) remains the key foreign market for yams exports from Sri Lanka, comprising 91% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 2.8% share of total exports. It was followed by Australia, with a 2.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Canada stood at +9.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-7.5% per year) and Australia (-14.3% per year).

Export Prices by Country

In 2022, the average yams export price amounted to $X per ton, reducing by -40.8% against the previous year. Overall, the export price recorded a mild decrease. The most prominent rate of growth was recorded in 2017 when the average export price increased by 43%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to the United Arab Emirates ($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 Bahrain (+10.1%), while the prices for the other major destinations experienced more modest paces of growth.

Yams Imports

Imports into Sri Lanka

Yams imports into Sri Lanka declined remarkably to X kg in 2022, dropping by -49.7% against 2021 figures. Over the period under review, imports, however, recorded a strong expansion. The pace of growth was the most pronounced in 2021 when imports increased by 35,900%. As a result, imports reached the peak of X kg, and then dropped significantly in the following year.

In value terms, yams imports fell sharply to $X in 2022. In general, imports, however, posted a measured expansion. The growth pace was the most rapid in 2021 with an increase of 28,000%. As a result, imports attained the peak of $X, and then dropped dramatically in the following year.

Imports by Country

In 2022, China (X kg) was the main supplier of yams to Sri Lanka, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China stood at +12.8%.

In value terms, China ($X) constituted the largest supplier of yams to Sri Lanka.

From 2012 to 2022, the average annual growth rate of value from China stood at +2.0%.

Import Prices by Country

The average yams import price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Over the period under review, the import price showed a abrupt decline. The most prominent rate of growth was recorded in 2020 when the average import price increased by 30%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for Singapore amounted to -6.6% per year.

Source: IndexBox Platform

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