Finland: Preserved Beef Market 2024

Preserved Beef Market Size in Finland

The Finnish preserved beef market declined markedly to $X in 2021, with a decrease of -17.4% against the previous year. In general, consumption continues to indicate a drastic downturn. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Preserved Beef Production in Finland

In value terms, preserved beef production shrank sharply to $X in 2021 estimated in export price. In general, production recorded a deep setback. The most prominent rate of growth was recorded in 2013 with an increase of 106% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Preserved Beef Exports

Exports from Finland

In 2021, exports of beef and veal (salted, in brine, dried or smoked) from Finland fell significantly to X kg, which is down by -96.8% against 2020. Overall, exports saw a dramatic descent. The pace of growth appeared the most rapid in 2016 with an increase of 1,192% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, preserved beef exports dropped markedly to $X in 2021. In general, exports recorded a dramatic decline. The most prominent rate of growth was recorded in 2016 when exports increased by 813%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Norway (X kg), the United States (X kg) and the UK (X kg) were the main destinations of preserved beef exports from Finland, together accounting for 72% of total exports. Moreover, preserved beef exports in Norway exceeded the figures recorded by the second-largest exporter, the United States, twofold.

From 2012 to 2021, the biggest increases were recorded for Norway (with a CAGR of +18.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Norway ($X) emerged as the key foreign market for beef and veal (salted, in brine, dried or smoked) exports from Finland, comprising 43% of total exports. The second position in the ranking was held by Indonesia ($X), with an 18% share of total exports. It was followed by the United States, with a 16% share.

From 2012 to 2021, the average annual growth rate of value to Norway totaled +15.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (0.0% per year) and the United States (0.0% per year).

Export Prices by Country

In 2021, the average preserved beef export price amounted to $X per ton, growing by 1,165% against the previous year. Over the period under review, the export price posted a significant expansion. The most prominent rate of growth was recorded in 2014 when the average export price increased by 1,221%. The export price peaked in 2021 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Iraq ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (+0.8%).

Preserved Beef Imports

Imports into Finland

After three years of decline, purchases abroad of beef and veal (salted, in brine, dried or smoked) increased by 0.9% to X tons in 2021. Overall, imports, however, continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2014 when imports increased by 133% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, preserved beef imports reached $X in 2021. In general, imports, however, continue to indicate a mild reduction. The growth pace was the most rapid in 2014 when imports increased by 81%. Over the period under review, imports attained the peak figure at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Italy (X tons) constituted the largest supplier of preserved beef to Finland, with a 68% share of total imports. Moreover, preserved beef imports from Italy exceeded the figures recorded by the second-largest supplier, Estonia (X tons), fivefold. The third position in this ranking was taken by Germany (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy stood at +16.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (-8.4% per year) and Germany (-21.9% per year).

In value terms, Italy ($X) constituted the largest supplier of beef and veal (salted, in brine, dried or smoked) to Finland, comprising 67% of total imports. The second position in the ranking was held by Estonia ($X), with a 19% share of total imports. It was followed by Denmark, with a 7.9% share.

From 2012 to 2021, the average annual growth rate of value from Italy stood at +12.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (-6.5% per year) and Denmark (+16.4% per year).

Import Prices by Country

The average preserved beef import price stood at $X per ton in 2021, standing approx. at the previous year. Over the period under review, the import price continues to indicate a resilient increase. The pace of growth appeared the most rapid in 2019 when the average import price increased by 195%. The import price peaked in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Estonia ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+24.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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