Sri Lanka: Groundnuts Market 2024

Groundnuts Market Size in Sri Lanka

The Sri Lankan groundnuts market amounted to $X in 2022, increasing by X% against the previous year. Overall, consumption showed a prominent increase. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Groundnuts Production in Sri Lanka

In value terms, groundnuts production expanded sharply to $X in 2022 estimated in export price. In general, production showed a resilient increase. The growth pace was the most rapid in 2013 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

The average yield of ground-nut (in-shell) in Sri Lanka shrank modestly to X tons per ha in 2022, remaining constant against the previous year. Over the period under review, the yield, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the yield increased by X% against the previous year. The groundnuts yield peaked at X tons per ha in 2021, and then declined modestly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The groundnuts harvested area in Sri Lanka expanded to X ha in 2022, picking up by X% compared with the previous year. Over the period under review, the total harvested area indicated prominent growth from 2012 to 2022: its figure increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, groundnuts harvested area decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the harvested area increased by X% against the previous year. The groundnuts harvested area peaked at X ha in 2016; however, from 2017 to 2022, the harvested area stood at a somewhat lower figure.

Groundnuts Exports

Exports from Sri Lanka

In 2022, overseas shipments of ground-nut (in-shell) decreased by X% to X kg, falling for the second consecutive year after two years of growth. Over the period under review, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, groundnuts exports fell to $X in 2022. Overall, exports saw a dramatic downturn. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Switzerland (X kg) was the main destination for groundnuts exports from Sri Lanka, with a X% share of total exports. Moreover, groundnuts exports to Switzerland exceeded the volume sent to the second major destination, Oman (X kg), ninefold. Sweden (X kg) ranked third in terms of total exports with a X% share.

From 2013 to 2022, the average annual growth rate of volume to Switzerland totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (X% per year) and Sweden (X% per year).

In value terms, Switzerland ($X) remains the key foreign market for ground-nut (in-shell) exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was held by Maldives ($X), with a X% share of total exports. It was followed by Oman, with a X% share.

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

Export Prices by Country

In 2022, the average groundnuts export price amounted to $X per ton, standing approx. at the previous year. Overall, the export price, however, saw a abrupt slump. The growth pace was the most rapid in 2019 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to Sweden ($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 Maldives (X%), while the prices for the other major destinations experienced a decline.

Groundnuts Imports

Imports into Sri Lanka

After two years of decline, purchases abroad of ground-nut (in-shell) decreased by X% to X tons in 2020. Over the period under review, imports saw a mild decline. Imports peaked at X tons in 2012; however, from 2013 to 2020, imports stood at a somewhat lower figure.

In value terms, groundnuts imports reduced to $X in 2020. In general, imports recorded a perceptible decrease. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2020, imports stood at a somewhat lower figure.

Imports by Country

In 2020, Afghanistan (X tons) was the main supplier of groundnuts to Sri Lanka, with a approx. X% share of total imports.

From 2012 to 2020, the average annual growth rate of volume from Afghanistan was relatively modest.

In value terms, Afghanistan ($X) constituted the largest supplier of ground-nut (in-shell) to Sri Lanka.

From 2012 to 2020, the average annual growth rate of value from Afghanistan was relatively modest.

Import Prices by Country

The average groundnuts import price stood at $X per ton in 2020, with a decrease of X% against the previous year. In general, the import price saw a perceptible downturn. The growth pace was the most rapid in 2013 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2014 to 2020, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2020, the rate of growth in terms of prices for India amounted to X% per year.

Source: IndexBox Platform

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