Sri Lanka: Chili And Pepper Market 2024

Chili And Pepper Market Size in Sri Lanka

After two years of decline, the Sri Lankan chili and pepper market increased by X% to $X in 2023. Overall, consumption continues to indicate a resilient increase. As a result, consumption attained the peak level of $X. From 2021 to 2023, the growth of the market failed to regain momentum.

Chili And Pepper Production in Sri Lanka

In value terms, chili and pepper production reduced slightly to $X in 2023 estimated in export price. Over the period under review, production recorded a prominent expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2023, production growth failed to regain momentum.

The average yield of chilies and peppers (green) in Sri Lanka stood at X tons per ha in 2023, increasing by X% on the year before. The yield figure increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, the average chili and pepper yield attained the peak level at X tons per ha in 2020; however, from 2021 to 2023, the yield stood at a somewhat 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, the chili and pepper harvested area in Sri Lanka rose modestly to X ha, growing by X% against 2022 figures. In general, the harvested area saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2021 to 2023, the growth of the chili and pepper harvested area remained at a somewhat lower figure.

Chili And Pepper Exports

Exports from Sri Lanka

In 2023, exports of chilies and peppers (green) from Sri Lanka soared to X tons, jumping by X% on 2022. In general, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports remained at a lower figure.

In value terms, chili and pepper exports soared to $X in 2023. Overall, exports posted a significant expansion. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for chili and pepper exports from Sri Lanka, with a X% share of total exports. Moreover, chili and pepper exports to the United Arab Emirates exceeded the volume sent to the second major destination, Germany (X tons), threefold. Qatar (X tons) ranked third in terms of total exports with an X% share.

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

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

From 2012 to 2023, the average annual rate of growth in terms 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: Switzerland (X% per year) and the UK (X% per year).

Export Prices by Country

In 2023, the average chili and pepper export price amounted to $X per ton, growing by X% against the previous year. In general, export price indicated a tangible increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, chili and pepper export price increased by X% against 2018 indices. The growth pace was the most rapid in 2019 when the average export price increased by X% against the previous year. The export price peaked in 2023 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Maldives ($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 more modest paces of growth.

Chili And Pepper Imports

Imports into Sri Lanka

In 2023, chili and pepper imports into Sri Lanka reduced remarkably to X tons, with a decrease of X% on the previous year. Overall, imports faced a drastic downturn. The most prominent rate of growth was recorded in 2022 when imports increased by X%. Imports peaked at X tons in 2015; however, from 2016 to 2023, imports failed to regain momentum.

In value terms, chili and pepper imports fell sharply to $X in 2023. In general, imports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2022 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, India (X tons) constituted the largest chili and pepper supplier to Sri Lanka, accounting for a X% share of total imports. Moreover, chili and pepper imports from India exceeded the figures recorded by the second-largest supplier, the Netherlands (X kg), sixfold. Singapore (X kg) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from India stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Singapore (X% per year).

In value terms, the Netherlands ($X), India ($X) and the United Arab Emirates ($X) constituted the largest chili and pepper suppliers to Sri Lanka, together comprising X% of total imports. Singapore and Thailand lagged somewhat behind, together comprising a further X%.

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

Import Prices by Country

The average chili and pepper import price stood at $X per ton in 2023, increasing by X% against the previous year. Overall, the import price, however, recorded a pronounced descent. The most prominent rate of growth was recorded in 2019 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2020 to 2023, the average import prices failed to regain momentum.

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

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

Source: IndexBox Platform