Sri Lanka: Cassava Market 2024

Cassava Market Size in Sri Lanka

In 2023, after two years of decline, there was growth in the Sri Lankan cassava market, when its value increased by X% to $X. Overall, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2023, the growth of the market remained at a somewhat lower figure.

Cassava Production in Sri Lanka

In value terms, cassava production dropped slightly to $X in 2023 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, production attained the peak level of $X. From 2014 to 2023, production growth failed to regain momentum.

In 2023, the average cassava yield in Sri Lanka amounted to X tons per ha, stabilizing at the year before. The yield figure increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2020 when the yield increased by X% against the previous year. As a result, the yield reached the peak level of X tons per ha. From 2021 to 2023, the growth of the average cassava yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The cassava harvested area in Sri Lanka declined modestly to X ha in 2023, therefore, remained relatively stable against the year before. Overall, the harvested area showed a slight setback. The most prominent rate of growth was recorded in 2021 when the harvested area increased by X%. The cassava harvested area peaked at X ha in 2013; however, from 2014 to 2023, the harvested area remained at a lower figure.

Cassava Exports

Exports from Sri Lanka

After two years of growth, overseas shipments of cassava decreased by X% to X tons in 2023. In general, exports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

In value terms, cassava exports fell rapidly to $X in 2023. Over the period under review, exports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2022 with an increase of X%. As a result, the exports attained the peak of $X, and then plummeted in the following year.

Exports by Country

The United Arab Emirates (X tons) was the main destination for cassava exports from Sri Lanka, accounting for a X% share of total exports. Moreover, cassava exports to the United Arab Emirates exceeded the volume sent to the second major destination, Qatar (X tons), tenfold. The third position in this ranking was taken by the UK (X tons), with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to the United Arab Emirates totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (X% per year) and the UK (X% per year).

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

From 2012 to 2023, the average annual growth rate of value to the United Arab Emirates stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and Qatar (X% per year).

Export Prices by Country

In 2023, the average cassava export price amounted to $X per ton, reducing by X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2023, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Cassava Imports

Imports into Sri Lanka

In 2023, approx. X kg of cassava were imported into Sri Lanka; flattening at the year before. Overall, imports faced a dramatic contraction. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2023, the growth of imports remained at a lower figure.

In value terms, cassava imports shrank to $X in 2023. In general, imports saw a precipitous descent. The growth pace was the most rapid in 2022 when imports increased by X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Vietnam (X kg) was the main supplier of cassava to Sri Lanka, with a approx. X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of volume from Vietnam stood at X%.

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

From 2012 to 2023, the average annual growth rate of value from Vietnam totaled X%.

Import Prices by Country

The average cassava import price stood at $X per ton in 2023, shrinking by X% against the previous year. Overall, the import price, however, showed a resilient expansion. The growth pace was the most rapid in 2017 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2020; however, from 2021 to 2023, import prices failed to regain momentum.

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

From 2012 to 2023, the rate of growth in terms of prices for Vietnam amounted to X% per year.

Source: IndexBox Platform