Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Sri Lanka - 2022

Contents:

1. Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Sri Lanka (CIF) - 2022
2. Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Sri Lanka (FOB) - 2022
3. Imports of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Sri Lanka
4. Exports of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Sri Lanka

Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Sri Lanka (CIF) - 2022

The average import price for crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses stood at $8,565 per ton in 2022, reducing by -31.2% against the previous year. In general, the import price, however, continues to indicate perceptible growth. The most prominent rate of growth was recorded in 2016 when the average import price increased by 70%. Over the period under review, average import prices hit record highs at $12,453 per ton in 2021, and then fell significantly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Singapore ($9,979 per ton), while the price for China ($8,263 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Sri Lanka (FOB) - 2022

The average export price for crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses stood at $11,101 per ton in 2022, stabilizing at the previous year. Over the period under review, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses decreased by -16.3% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by 52%. As a result, the export price reached the peak level of $13,259 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 foreign markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($13,360 per ton), while the average price for exports to Poland ($1,000 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 the Netherlands (+21.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Sri Lanka

After three years of growth, overseas purchases of crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses decreased by -31% to 16 tons in 2022. In general, imports, however, posted significant growth. The pace of growth was the most pronounced in 2020 when imports increased by 268%.

In value terms, imports of crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses shrank sharply to $137K in 2022. Overall, imports, however, recorded significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 281% against the previous year.

Top Suppliers of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers to Sri Lanka in 2022:

1. China (11.4 tons)
2. United States (3.6 tons)
3. Singapore (0.5 tons)

Exports of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Sri Lanka

For the fourth consecutive year, Sri Lanka recorded growth in shipments abroad of crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses, which increased by 20% to 8.7 tons in 2022. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 469%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, exports of crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses skyrocketed to $97K in 2022. Over the period under review, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 541%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Top Export Markets for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers from Sri Lanka in 2022:

1. United Kingdom (4.0 tons)
2. Netherlands (2.3 tons)

Source: IndexBox Market Intelligence Platform