Starches market in Sri Lanka

Earlier Report Observations

The starch market in Sri Lanka grew consistently from 2018 to 2021, with total volume rising from 17 409 tons to 21 580 tons. This expansion was underpinned by increasing import volumes, which climbed from 12 612 tons to over 16 700 tons, while domestic production fluctuated between 4 000 and 5 500 tons.

A pronounced contraction began in 2022, with market volume falling by over 20% to 17 153 tons and further declining to 15 297 tons in 2023. This downturn aligned with a reduction in imports, which dropped to 13 538 tons in 2022 and 11 308 tons in 2023, and a dip in domestic production to 3 878 tons in 2022 before a modest recovery.

Production starches in Sri Lanka

In kind, 2017-2020, t

Top producers of starches, 2017-2020

World map of production of starches, 2017-2020

Sri Lanka's starch production rebounded after a two-year decline. In 2020, the country produced 5 517 tonnes of starches, marking a sharp year-on-year increase of 36.5%. Over the period from 2017 to 2020, production grew by 12.7%, which translates to an average annual growth rate of 4.1%. The lowest production level was recorded in 2019 at 4 043 tonnes, which also saw the largest decline of 15.8%.

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

Exports starches from Sri Lanka

Exports in kind, t

The market for starch exports from Sri Lanka experienced significant fluctuations during this period. Export volumes peaked in 2017 and then fell to their lowest point in 2018, representing a dramatic 90-fold difference between these years. In 2020, Sri Lanka exported 260 tonnes of starches, showing a substantial increase of 64.8% compared to the previous year. The minimum export volume was recorded in 2018 at just 3 tonnes, which also saw the largest decline of 98.9%. Conversely, the largest increase occurred in 2019 with a remarkable growth of 5 063.9%.

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

From 2017 to 2020, the United Arab Emirates was the dominant buyer of starches from Sri Lanka, accounting for 77.5% of total exports by volume. The remaining share was distributed among other countries.

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 market for starch exports in value terms showed considerable volatility during these years. The highest value was reached in 2017, while the lowest occurred in 2018, with a peak-to-trough ratio of 47 times. In 2020, starch shipments from Sri Lanka totaled 75 thousand US dollars, indicating a year-on-year gain of 33.4%. The minimum value was recorded in 2018 at 3 thousand US dollars, which also saw the largest decline of 97.9%. The largest increase was recorded in 2019 with growth of 1 652.3%.

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

Between 2017 and 2020, the country structure of starch exports in value terms was highly concentrated. The United Arab Emirates and Qatar together accounted for 82.9% of total export flows, with other partners making up the remainder.

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 starches to Sri Lanka

Imports in kind, t

In 2020, Sri Lanka imported 15 501 tonnes of starches, reflecting a slight decrease of 1.4% compared to the previous year. Over the period from 2017 to 2020, imports increased by 18.1%, equating to an annualized growth rate of 5.7%. The minimum import volume was recorded in 2018 at 12 612 tonnes, while the maximum was reached in 2019 at 15 722 tonnes. The largest decline occurred in 2018 with a drop of 3.9%, and the largest increase was recorded in 2019 with growth of 24.7%.

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

From 2017 to 2020, India, Turkey, and Thailand were the leading suppliers of starches to Sri Lanka by volume. India accounted for 52.6% of imports, Turkey for 16.8%, and Thailand for 12.7%. Together, these three countries represented 82.1% of total starch imports by volume.

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

In 2020, Sri Lanka imported approximately 5 781 thousand US dollars worth of starches, marking a decline of 9.9% compared to 2019. Over the period from 2017 to 2020, imports increased by 11%, with a compound annual growth rate of 3.5%. The minimum value was recorded in 2018 at 4 887 thousand US dollars, while the maximum was reached in 2019 at 6 412 thousand US dollars. The largest increase occurred in 2019 with growth of 31.2%.

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

Between 2017 and 2020, India, Thailand, and Turkey were the main sources of starch imports to Sri Lanka in value terms. India accounted for 50.8% of imports, Thailand for 14.6%, and Turkey for 12.9%. Collectively, these three countries represented 78.3% of total starch imports by value.

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

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