Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Sri Lanka - 2022

Contents:

1. Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Sri Lanka (CIF) - 2022
2. Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Sri Lanka (FOB) - 2022
3. Imports of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Sri Lanka
4. Exports of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Sri Lanka

Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Sri Lanka (CIF) - 2022

In 2022, the average import price for powdered sweetened milk and cream of fat weight content over 1.5% amounted to $3,270 per ton, with a decrease of -20.3% against the previous year. Overall, the import price saw a slight slump. The pace of growth appeared the most rapid in 2019 when the average import price increased by 27%. The import price peaked at $4,101 per ton in 2021, and then declined rapidly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($8,432 per ton), while the price for Australia ($2,393 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+57.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Sri Lanka (FOB) - 2022

In 2022, the average export price for powdered sweetened milk and cream of fat weight content over 1.5% amounted to $4,354 per ton, declining by -47.6% against the previous year. Overall, the export price saw a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when the average export price increased by 84% against the previous year. The export price peaked at $10,378 per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($8,130 per ton), while the average price for exports to Maldives ($3,191 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (-0.8%), while the prices for the other major destinations experienced a decline.

Imports of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Sri Lanka

In 2022, imports of powdered sweetened milk and cream of fat weight content over 1.5% into Sri Lanka surged to 611 tons, increasing by 42% on the year before. Over the period under review, imports, however, recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2020 with an increase of 92%. As a result, imports reached the peak of 1.4K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of powdered sweetened milk and cream of fat weight content over 1.5% expanded sharply to $2M in 2022. In general, imports, however, continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2020 when imports increased by 94% against the previous year. As a result, imports attained the peak of $4.8M. From 2021 to 2022, the growth of imports of remained at a lower figure.

Top Suppliers of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% to Sri Lanka in 2022:

1. New Zealand (188.2 tons)
2. Ireland (58.4 tons)
3. Australia (24.3 tons)
4. India (20.0 tons)
5. Netherlands (7.3 tons)
6. Indonesia (6.6 tons)

Exports of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Sri Lanka

Exports of powdered sweetened milk and cream of fat weight content over 1.5% from Sri Lanka skyrocketed to 130 tons in 2022, rising by 30% on the previous year. In general, total exports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +6.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +91.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 48% against the previous year. Over the period under review, the exports of attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, exports of powdered sweetened milk and cream of fat weight content over 1.5% reduced dramatically to $566K in 2022. Overall, exports, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2021 when exports increased by 19% against the previous year.

Top Export Markets for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% from Sri Lanka in 2022:

1. Maldives (43.8 tons)
2. Mauritius (21.7 tons)
3. Saudi Arabia (7.8 tons)
4. Canada (3.3 tons)
5. Australia (0.9 tons)

Source: IndexBox Market Intelligence Platform