Sri Lanka: Preserved Cows Meat Market 2024

Preserved Cows Meat Market Size in Sri Lanka

The Sri Lankan preserved cows meat market totaled $X in 2023, almost unchanged from the previous year. Overall, consumption saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the market value increased by X% against the previous year. As a result, consumption reached the peak level of $X. From 2020 to 2023, the growth of the market remained at a lower figure.

Preserved Cows Meat Production in Sri Lanka

In value terms, preserved cows meat production amounted to $X in 2023 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2023, production growth failed to regain momentum.

Preserved Cows Meat Exports

Exports from Sri Lanka

In 2023, shipments abroad of prepared or preserved meat or offal of bovine animals decreased by X% to X tons for the first time since 2019, thus ending a three-year rising trend. Overall, exports, however, saw prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, the exports attained the peak of X tons. From 2019 to 2023, the growth of the exports failed to regain momentum.

In value terms, preserved cows meat exports shrank notably to $X in 2023. In general, exports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then shrank significantly in the following year.

Exports by Country

Maldives (X tons) was the main destination for preserved cows meat exports from Sri Lanka, with a approx. X% share of total exports.

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

In value terms, Maldives ($X) also remains the key foreign market for prepared or preserved meat or offal of bovine animals exports from Sri Lanka.

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

Export Prices by Country

In 2023, the average preserved cows meat export price amounted to $X per ton, surging by X% against the previous year. Overall, export price indicated tangible growth 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, preserved cows meat export price increased by X% against 2021 indices. The pace of growth appeared the most rapid in 2022 an increase of X%. Over the period under review, the average export prices reached the maximum in 2023 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Maldives.

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

Preserved Cows Meat Imports

Imports into Sri Lanka

In 2023, approx. X tons of prepared or preserved meat or offal of bovine animals were imported into Sri Lanka; with an increase of X% compared with 2022 figures. In general, imports posted modest growth. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2023, imports failed to regain momentum.

In value terms, preserved cows meat imports soared to $X in 2023. Over the period under review, imports saw a slight increase. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Imports peaked at $X in 2018; however, from 2019 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Australia (X tons) constituted the largest supplier of preserved cows meat to Sri Lanka, accounting for a X% share of total imports. Moreover, preserved cows meat imports from Australia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), threefold. Brazil (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Australia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Brazil (X% per year).

In value terms, the largest preserved cows meat suppliers to Sri Lanka were Australia ($X), Malaysia ($X) and the United Arab Emirates ($X), with a combined X% share of total imports. Brazil, Singapore and China lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Brazil, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average preserved cows meat import price stood at $X per ton in 2023, reducing by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2020; however, from 2021 to 2023, import prices remained at a lower figure.

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

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

Source: IndexBox Platform