Sri Lanka: Market for Frozen Pig Meat Other Than Cuts Or Carcases 2024

Market Size for Frozen Pig Meat Other Than Cuts Or Carcases in Sri Lanka

The Sri Lankan market for frozen pig meat other than cuts or carcases shrank to $X in 2022, declining by -5.8% against the previous year. Over the period under review, the total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +7.2% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Frozen Pig Meat Other Than Cuts Or Carcases in Sri Lanka

In value terms, production of frozen pig meat other than cuts or carcases fell to $X in 2022 estimated in export price. Overall, the total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +7.3% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 34%. Over the period under review, production of attained the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Frozen Pig Meat Other Than Cuts Or Carcases

Exports from Sri Lanka

Exports of frozen pig meat other than cuts or carcases from Sri Lanka soared to X kg in 2022, picking up by 49% on the year before. In general, exports, however, recorded a dramatic downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 72% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, exports of frozen pig meat other than cuts or carcases skyrocketed to $X in 2022. Over the period under review, exports, however, saw a dramatic decline. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Maldives (X kg) was the main destination for exports of frozen pig meat other than cuts or carcases from Sri Lanka, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Maldives stood at -34.2%.

In value terms, Maldives ($X) also remains the key foreign market for frozen pig meat other than cuts or carcases exports from Sri Lanka.

From 2012 to 2022, the average annual rate of growth in terms of value to Maldives stood at -31.5%.

Export Prices by Country

The average export price for frozen pig meat other than cuts or carcases stood at $X per ton in 2022, surging by 17% against the previous year. In general, the export price showed a resilient expansion. The most prominent rate of growth was recorded in 2021 an increase of 80%. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see steady growth in years to come.

As there is only one major export destination, the average price level is determined by prices for Maldives.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +11.7% per year.

Imports of Frozen Pig Meat Other Than Cuts Or Carcases

Imports into Sri Lanka

Imports of frozen pig meat other than cuts or carcases into Sri Lanka soared to X tons in 2022, picking up by 51% against 2021 figures. Overall, imports showed buoyant growth. The pace of growth was the most pronounced in 2014 when imports increased by 200% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, imports of frozen pig meat other than cuts or carcases surged to $X in 2022. In general, imports continue to indicate a strong increase. The pace of growth appeared the most rapid in 2014 with an increase of 197%. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Brazil (X tons) constituted the largest frozen pig meat other than cuts or carcases supplier to Sri Lanka, with a 69% share of total imports. Moreover, imports of frozen pig meat other than cuts or carcases from Brazil exceeded the figures recorded by the second-largest supplier, Spain (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil totaled +25.2%.

In value terms, Brazil ($X) constituted the largest supplier of frozen pig meat other than cuts or carcases to Sri Lanka, comprising 73% of total imports. The second position in the ranking was taken by Spain ($X), with a 27% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Brazil stood at +24.3%.

Import Prices by Country

In 2022, the average import price for frozen pig meat other than cuts or carcases amounted to $X per ton, with an increase of 23% against the previous year. Overall, the import price, however, saw a mild reduction. The most prominent rate of growth was recorded in 2017 when the average import price increased by 30%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for Spain amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+19.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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