Maize market in Sri Lanka

Earlier Report Observations

The maize market in Sri Lanka saw a contraction from 399 thousand tons in 2018 to 343 thousand tons in 2020. This decline was largely due to a steep fall in imports, which dropped from 130 thousand tons to 30 thousand tons over these years, reducing overall supply. The COVID-19 pandemic in 2020 further disrupted cultivation and supply chains, compounding the market's reduction.

A sharp reversal occurred in 2021, with the market volume jumping 40% to 481 thousand tons. This surge was driven by a substantial increase in domestic production, supported by government and international programs that expanded maize cultivation area and provided farmers with improved inputs and financial facilities.

From 2022 onward, the market entered a downward trend, reaching 418 thousand tons in 2023. Domestic production faced severe constraints, including the unavailability of chemical fertilizers and hybrid seeds following a policy shift, alongside broader economic crisis conditions that increased costs and limited resources. In response, the government reversed the fertilizer ban and launched a digital system to improve maize supply management.

Production maize in Sri Lanka

In kind, 2017-2020, K t

Top producers of maize, 2017-2020

World map of production of maize, 2017-2020

In 2020, Sri Lanka produced 313.5 K t of maize, marking a 27.6% increase compared to 2019. Between 2017 and 2020, production grew by 60.2%, which translates to an annualized growth rate of 17.0%. The largest decline occurred in 2019, with a drop of 9.0%, while the largest increase was recorded in 2018, at 38.0%.

Annual dynamics of production in Sri Lanka in kind, 2017-2020, K t

Exports maize from Sri Lanka

Exports in kind, K t

Market performance showed noticeable fluctuations during this period. Exports reached their lowest point in 2017 and peaked in 2018, with a staggering 272-fold difference between these years. In 2020, Sri Lanka exported 0.0 K t of maize, reflecting a sharp decline of 42.7% compared to 2019. The maximum value was recorded in 2018 at 0.5 K t. The largest decline occurred in 2019, with a drop of 96.9%, while the largest increase was in 2018, at 27,095.8%.

Annual dynamics of product's exports from Sri Lanka in kind, 2017-2020, K t

From 2017 to 2020, Oman dominated the geographical structure of maize exports from Sri Lanka, accounting for 93.7% of total flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Sri Lanka in kind, 2017-2020

Exports in value, K $ US

The data reveals irregular changes, indicating a volatile market environment. Exports varied significantly, with a 40-fold difference between the minimum in 2017 and the maximum in 2018. In 2020, cross-border shipments of maize from Sri Lanka amounted to 46 K $ US, representing a solid reduction of 22.6% compared to the previous year. The maximum value was recorded in 2018 at 169 K $ US. The largest decline occurred in 2019, with a drop of 64.6%, while the largest increase was in 2018, at 3,936.4%.

Annual dynamics of product's exports from Sri Lanka in value, 2017-2020, K $ US

From 2017 to 2020, Oman, Japan, and the United Kingdom were the top contributors to maize exports in value terms, with shares of 46.1%, 33.3%, and 12.3%, respectively. Together, they accounted for 91.7% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Sri Lanka in value, 2017-2020

Imports maize to Sri Lanka

Imports in kind, K t

Maize imports to Sri Lanka declined for the third consecutive year. In 2020, imports reached 29.8 K t, equivalent to a sharp decline of 71.2% compared to 2019. Over the period from 2017 to 2020, imports decreased by 83.5%, with a compound annual growth rate (CAGR) of -45.2%.

Annual dynamics of product's imports to Sri Lanka in kind, 2017-2020, K t

From 2017 to 2020, Pakistan, Ukraine, and Romania were the main sources for maize imports in kind, with shares of 26.5%, 23.7%, and 22.1%, respectively. Together, they represented 72.3% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Sri Lanka in kind, 2017-2020

Imports in value, K $ US

The data reveals irregular changes, indicating a volatile market environment. Imports changed by 3.5-fold from the peak in 2017 to the trough in 2020. In 2020, maize imports to Sri Lanka amounted to 14 239 K $ US, representing a dramatic contraction of 51.4% year-over-year. The largest increase was recorded in 2019, at 9.5%.

Annual dynamics of product's imports to Sri Lanka in value, 2017-2020, K $ US

From 2017 to 2020, Pakistan, India, and Ukraine were the main destinations for maize imports in value terms, with shares of 23.3%, 18.8%, and 17.8%, respectively. Together, they accounted for 59.9% of total imports.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Sri Lanka in value, 2017-2020