Sri Lanka: Cherry Market 2024

Cherry Market Size in Sri Lanka

The Sri Lankan cherry market soared to $X in 2022, increasing by X% against the previous year. Overall, consumption posted perceptible growth. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Cherry Production in Sri Lanka

In value terms, cherry production stood at less than $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 with a decrease of X% against the previous year. Cherry production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

The average yield of cherries in Sri Lanka stood at less than X kg per ha in 2022, approximately mirroring 2021. In general, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The cherry harvested area in Sri Lanka totaled less than X ha in 2022, approximately reflecting the previous year's figure. In general, the harvested area showed a relatively flat trend pattern.

Cherry Exports

Exports from Sri Lanka

After two years of decline, overseas shipments of cherries decreased by X% to X kg in 2022. Over the period under review, exports continue to indicate a precipitous contraction. The smallest decline of X% was in 2014. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, cherry exports fell sharply to $X in 2022. In general, exports continue to indicate a dramatic descent. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X kg) was the main destination for cherry exports from Sri Lanka, with a X% share of total exports. It was followed by Maldives (X kg), with a X% share of total exports.

From 2013 to 2022, the average annual growth rate of volume to Saudi Arabia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (X% per year) and Bahrain (X% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for cherries exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was held by Bahrain ($X), with a X% share of total exports.

From 2013 to 2022, the average annual growth rate of value to Saudi Arabia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (X% per year) and Maldives (X% per year).

Export Prices by Country

In 2022, the average cherry export price amounted to $X per ton, picking up by X% against the previous year. Overall, the export price continues to indicate a pronounced increase. The most prominent rate of growth was recorded in 2015 an increase of X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, 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 Bahrain ($X per ton), while the average price for exports to Maldives ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bahrain (X%), while the prices for the other major destinations experienced mixed trend patterns.

Cherry Imports

Imports into Sri Lanka

In 2022, approx. X kg of cherries were imported into Sri Lanka; which is down by X% on the previous year. Over the period under review, imports showed a precipitous setback. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X kg in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, cherry imports contracted significantly to $X in 2022. In general, imports recorded a significant decrease. The pace of growth was the most pronounced in 2017 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X kg), Singapore (X kg) and the United States (X kg) were the main suppliers of cherry imports to Sri Lanka.

From 2013 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while purchases for the other leaders experienced a decline.

In value terms, the United Arab Emirates ($X), Singapore ($X) and the United States ($X) constituted the largest cherry suppliers to Sri Lanka.

Among the main suppliers, the United Arab Emirates, 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 cherry import price stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, the import price recorded a deep reduction. The pace of growth was the most pronounced in 2017 when the average import price increased by X%. Over the period under review, average import prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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