Estonia: Linseed Market 2024

Linseed Market Size in Estonia

The Estonian linseed market soared to $X in 2022, with an increase of 30% against the previous year. Overall, consumption continues to indicate a remarkable increase. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in the immediate term.

Linseed Production in Estonia

In value terms, linseed production rose notably to $X in 2022 estimated in export price. Overall, production showed a pronounced decline. The most prominent rate of growth was recorded in 2013 with an increase of 186%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

In 2022, the average yield of linseed in Estonia dropped to X tons per ha, shrinking by -2.4% against 2021. Overall, the yield indicated strong growth from 2012 to 2022: its figure increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, linseed yield increased by +7.4% against 2020 indices. The growth pace was the most rapid in 2013 when the yield increased by 161%. As a result, the yield reached the peak level of X tons per ha. From 2014 to 2022, the growth of the average linseed yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The linseed harvested area in Estonia contracted significantly to X ha in 2022, waning by -32.5% against 2021. Over the period under review, the harvested area, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2021 when the harvested area increased by 186% against the previous year. As a result, the harvested area attained the peak level of X ha, and then dropped significantly in the following year.

Linseed Exports

Exports from Estonia

After three years of growth, overseas shipments of linseed decreased by -73.4% to X tons in 2022. Overall, exports, however, continue to indicate significant growth. The growth pace was the most rapid in 2014 with an increase of 11,859%. The exports peaked at X tons in 2021, and then declined rapidly in the following year.

In value terms, linseed exports contracted remarkably to $X in 2022. In general, exports, however, saw a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 10,818% against the previous year. The exports peaked at $X in 2021, and then contracted significantly in the following year.

Exports by Country

Poland (X tons), the Netherlands (X tons) and Belgium (X tons) were the main destinations of linseed exports from Estonia, with a combined 92% share of total exports. These countries were followed by Lithuania, which accounted for a further 6.8%.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of +98.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for linseed exported from Estonia were Poland ($X), the Netherlands ($X) and Belgium ($X), together comprising 90% of total exports. Lithuania lagged somewhat behind, accounting for a further 6.5%.

Lithuania, with a CAGR of +85.9%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average linseed export price stood at $X per ton in 2022, rising by 9.9% against the previous year. Overall, the export price, however, continues to indicate a pronounced contraction. The pace of growth appeared the most rapid in 2018 an increase of 183% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Netherlands ($X per ton) and Belgium ($X per ton), while the average price for exports to Poland ($X per ton) and Lithuania ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+13.3%), while the prices for the other major destinations experienced more modest paces of growth.

Linseed Imports

Imports into Estonia

In 2022, after three years of growth, there was significant decline in supplies from abroad of linseed, when their volume decreased by -41.4% to X tons. Over the period under review, imports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2020 with an increase of 111%. Over the period under review, imports hit record highs at X tons in 2021, and then reduced sharply in the following year.

In value terms, linseed imports declined rapidly to $X in 2022. In general, imports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 150%. As a result, imports reached the peak of $X, and then declined rapidly in the following year.

Imports by Country

In 2022, Kazakhstan (X tons) constituted the largest supplier of linseed to Estonia, accounting for a 65% share of total imports. Moreover, linseed imports from Kazakhstan exceeded the figures recorded by the second-largest supplier, Russia (X tons), fourfold. Poland (X tons) ranked third in terms of total imports with an 8.6% share.

From 2012 to 2022, the average annual growth rate of volume from Kazakhstan totaled +76.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+101.3% per year) and Poland (+41.6% per year).

In value terms, Kazakhstan ($X) constituted the largest supplier of linseed to Estonia, comprising 59% of total imports. The second position in the ranking was held by Russia ($X), with a 13% share of total imports. It was followed by Poland, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Kazakhstan amounted to +79.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+98.9% per year) and Poland (+47.3% per year).

Import Prices by Country

The average linseed import price stood at $X per ton in 2022, increasing by 24% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 35% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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 Finland ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform