Report Update: May 1, 2024

Sri Lanka - Cereal Grain Products (Including Corn Flakes) - Market Analysis, Forecast, Size, Trends And Insights

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Price for Corn Flakes and Cereal Products in Sri Lanka - 2021

Price for Corn Flakes and Cereal Products in Sri Lanka (FOB) - 2022

The average export price for cereal grain products (including corn flakes) stood at $1,023 per ton in 2022, with an increase of 9.8% against the previous year. Over the period under review, the export price, however, faced a abrupt decline. The most prominent rate of growth was recorded in 2014 when the average export price increased by 24%. As a result, the export price attained the peak level of $4,584 per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($1,435 per ton), while the average price for exports to Nigeria ($520 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 Kenya (+19.8%), while the prices for the other major destinations experienced a decline.

Price for Corn Flakes and Cereal Products in Sri Lanka (CIF) - 2022

In 2022, the average import price for cereal grain products (including corn flakes) amounted to $1,913 per ton, therefore, remained relatively stable against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2021 when the average import price increased by 28%. The import price peaked at $2,145 per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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 Philippines ($3,077 per ton), while the price for the Netherlands ($362 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Corn Flakes and Cereal Products in Sri Lanka

Corn flakes and cereal products exports from Sri Lanka shrank rapidly to 8.4K tons in 2022, waning by -23.5% compared with the previous year. In general, exports showed a pronounced decrease. The growth pace was the most rapid in 2021 with an increase of 27%. As a result, the exports reached the peak of 11K tons, and then shrank rapidly in the following year.

In value terms, corn flakes and cereal products exports fell rapidly to $8.6M in 2022. The total export value increased at an average annual rate of +3.0% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 30% against the previous year. As a result, the exports reached the peak of $10M, and then fell significantly in the following year.

Export of Corn Flakes and Cereal Products in Sri Lanka (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
India	6.0	4.7	6.0	5.5	-2.9%
Pakistan	0.3	0.5	0.6	0.5	18.6%
United Arab Emirates	0.3	0.4	0.5	0.4	10.1%
Ghana	0.3	0.3	0.5	0.3	0.0%
Nigeria	N/A	0.1	0.3	0.3	73.2%
Oman	0.2	0.3	0.3	N/A	22.5%
Others	0.8	1.6	2.1	1.6	26.0%
Total	7.9	7.9	10.3	8.6	2.9%

Top Export Markets for Corn Flakes and Cereal Products from Sri Lanka in 2022:

Oman (undefinedK tons)
India (6.3K tons)
Nigeria (0.6K tons)
Pakistan (0.5K tons)
Ghana (0.3K tons)
United Arab Emirates (0.3K tons)

Imports of Corn Flakes and Cereal Products in Sri Lanka

Corn flakes and cereal products imports into Sri Lanka fell rapidly to 1.1K tons in 2022, declining by -57.2% compared with 2021 figures. Over the period under review, imports faced a abrupt setback. The most prominent rate of growth was recorded in 2021 when imports increased by 91% against the previous year. As a result, imports attained the peak of 2.5K tons, and then contracted remarkably in the following year.

In value terms, corn flakes and cereal products imports reduced rapidly to $2.1M in 2022. In general, imports recorded a noticeable curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 145% against the previous year. As a result, imports attained the peak of $4.8M, and then reduced rapidly in the following year.

Import of Corn Flakes and Cereal Products in Sri Lanka (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
India	1,251	1,040	3,031	1,540	7.2%
Philippines	352	252	638	175	-20.8%
Australia	10.9	64.6	91.5	88.9	101.3%
Poland	1.1	14.2	102	78.6	315.0%
Malaysia	194	178	409	77.7	-26.3%
United Arab Emirates	73.7	113	234	33.1	-23.4%
Netherlands	47.2	71.1	43.3	17.0	-28.9%
China	50.7	27.4	41.7	6.4	-49.8%
Others	347	202	216	42.8	-50.2%
Total	2,328	1,963	4,807	2,060	-4.0%

Top Suppliers of Corn Flakes and Cereal Products to Sri Lanka in 2022:

India (691.9 tons)
Australia (128.1 tons)
Philippines (57.0 tons)
United Arab Emirates (53.6 tons)
Netherlands (47.0 tons)
Malaysia (39.1 tons)
Poland (35.6 tons)
China (10.3 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for corn flakes and cereal products in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 10613333 - Rolled, flaked, hulled, pearled, sliced or kibbled cereal grains (excluding rice)
Prodcom 10613335 - Germ of cereals, whole, rolled, flaked or ground (excluding rice)
Prodcom 10613351 - Muesli type preparations based on unroasted cereal flakes
Prodcom 10613353 - Other prepared foods obtained by the swelling or roasting of cereals
Prodcom 10613355 - Cereals in grain form, precooked or otherwise prepared (excluding maize)

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023