Price for Pearls; Articles of Natural or Cultured Pearls in Sri Lanka - 2022

Contents:

1. Price for Pearls; Articles of Natural or Cultured Pearls in Sri Lanka (CIF) - 2022
2. Price for Pearls; Articles of Natural or Cultured Pearls in Sri Lanka (FOB) - 2022
3. Imports of Pearls; Articles of Natural or Cultured Pearls in Sri Lanka
4. Exports of Pearls; Articles of Natural or Cultured Pearls in Sri Lanka

Price for Pearls; Articles of Natural or Cultured Pearls in Sri Lanka (CIF) - 2022

In 2022, the average import price for pearls; articles of natural or cultured pearlses amounted to $28,000 per ton, declining by -30.9% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average import price increased by 67%. Over the period under review, average import prices reached the maximum at $61,530 per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +69.5% per year.

Price for Pearls; Articles of Natural or Cultured Pearls in Sri Lanka (FOB) - 2022

In 2022, the average export price for pearls; articles of natural or cultured pearlses amounted to $160,000 per ton, waning by -19.3% against the previous year. Over the period under review, the export price, however, showed a significant expansion. The pace of growth appeared the most rapid in 2015 when the average export price increased by 545% against the previous year. Over the period under review, the average export prices attained the peak figure at $483,000 per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($440,000 per ton), while the average price for exports to Maldives ($22,000 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 Qatar (+365.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Pearls; Articles of Natural or Cultured Pearls in Sri Lanka

For the third year in a row, Sri Lanka recorded decline in supplies from abroad of pearls; articles of natural or cultured pearlses, which decreased by -83.3% to 1 kg in 2022. In general, imports continue to indicate a precipitous descent. The smallest decline of -53.1% was in 2020.

In value terms, imports of pearls; articles of natural or cultured pearlses dropped significantly to $28 in 2022. Over the period under review, imports saw a sharp downturn. The smallest decline of -38.5% was in 2021.

Top Suppliers of Pearls; Articles of Natural or Cultured Pearls to Sri Lanka in 2022:

1. India (1.0 kg)

Exports of Pearls; Articles of Natural or Cultured Pearls in Sri Lanka

For the fourth year in a row, Sri Lanka recorded growth in shipments abroad of pearls; articles of natural or cultured pearlses, which increased by 33% to 4 kg in 2022. In general, total exports indicated a significant expansion from 2019 to 2022: its volume increased at an average annual rate of +26.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +100.0% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 50% against the previous year. Over the period under review, the exports of attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, exports of pearls; articles of natural or cultured pearlses totaled $640 in 2022. Overall, exports, however, showed a abrupt curtailment.

Top Export Markets for Pearls; Articles of Natural or Cultured Pearls from Sri Lanka in 2022:

1. United Kingdom (1.0 kg)
2. Australia (1.0 kg)
3. Maldives (1.0 kg)
4. Germany (1.0 kg)

Source: IndexBox Market Intelligence Platform