Sri Lanka: Green Bean Market 2024

Green Bean Market Size in Sri Lanka

The Sri Lankan green bean market reduced slightly to $X in 2023, falling by X% against the previous year. Over the period under review, consumption showed a strong expansion. As a result, consumption attained the peak level of $X. From 2021 to 2023, the growth of the market remained at a somewhat lower figure.

Green Bean Production in Sri Lanka

In value terms, green bean production contracted slightly to $X in 2023 estimated in export price. Over the period under review, production enjoyed a prominent increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, production reached the peak level of $X. From 2021 to 2023, production growth remained at a somewhat lower figure.

The average yield of green beans in Sri Lanka amounted to X tons per ha in 2023, standing approx. at 2022 figures. The yield figure increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the yield increased by X%. Over the period under review, the average green bean yield hit record highs at X tons per ha in 2018; however, from 2019 to 2023, the 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.

In 2023, approx. X ha of green beans were harvested in Sri Lanka; surging by X% compared with the previous year's figure. In general, the harvested area continues to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2020 with an increase of X%. As a result, the harvested area attained the peak level of X ha. From 2021 to 2023, the growth of the green bean harvested area failed to regain momentum.

Green Bean Exports

Exports from Sri Lanka

In 2023, shipments abroad of green beans decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. In general, exports recorded a pronounced contraction. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2023, the growth of the exports remained at a lower figure.

In value terms, green bean exports surged to $X in 2023. Overall, exports saw a deep reduction. The pace of growth appeared the most rapid in 2018 when exports increased by X%. As a result, the exports reached the peak of $X. From 2019 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

Maldives (X tons) was the main destination for green bean exports from Sri Lanka, with a X% share of total exports. Moreover, green bean exports to Maldives exceeded the volume sent to the second major destination, Switzerland (X tons), twofold. The third position in this ranking was held by the United Arab Emirates (X tons), with a X% share.

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

In value terms, the largest markets for green bean exported from Sri Lanka were Maldives ($X), Switzerland ($X) and France ($X), with a combined X% share of total exports. The United Arab Emirates, Norway, Saudi Arabia, Qatar, the UK, Bahrain and Kuwait lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, the UK, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average green bean export price amounted to $X per ton, surging by X% against the previous year. In general, the export price, however, saw a pronounced decrease. Over the period under review, the average export prices reached the maximum at $X per ton in 2020; however, from 2021 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to the United Arab Emirates ($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 the UK (X%), while the prices for the other major destinations experienced a decline.

Green Bean Imports

Imports into Sri Lanka

In 2023, overseas purchases of green beans were finally on the rise to reach X kg for the first time since 2016, thus ending a six-year declining trend. Over the period under review, imports, however, saw a sharp setback. The pace of growth was the most pronounced in 2015 when imports increased by X% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

In value terms, green bean imports soared to $X in 2023. In general, imports, however, showed a sharp curtailment. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

India (X kg), China (X kg) and Singapore (X kg) were the main suppliers of green bean imports to Sri Lanka, with a combined X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for Singapore (with a CAGR of X%), while purchases for the other leaders experienced a decline.

In value terms, the largest green bean suppliers to Sri Lanka were China ($X), Thailand ($X) and India ($X), with a combined X% share of total imports. Singapore, Egypt and Myanmar lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Singapore, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average green bean import price stood at $X per ton in 2023, which is down by X% against the previous year. Over the period under review, the import price, however, showed buoyant growth. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. The import price peaked at $X per ton in 2022, and then declined significantly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform