Finland: Butter Market 2024

Butter Market Size in Finland

The Finnish butter market skyrocketed to $X in 2022, increasing by 27% against the previous year. Over the period under review, consumption, however, showed a mild descent. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Butter Production in Finland

In value terms, butter production fell to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 38% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Butter Exports

Exports from Finland

In 2022, butter exports from Finland shrank remarkably to X tons, which is down by -27% on the previous year's figure. In general, exports, however, saw a prominent expansion. The pace of growth was the most pronounced in 2015 when exports increased by 73%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, butter exports skyrocketed to $X in 2022. Overall, total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 29%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

France (X tons) was the main destination for butter exports from Finland, with a 39% share of total exports. Moreover, butter exports to France exceeded the volume sent to the second major destination, Sweden (X tons), twofold. The third position in this ranking was held by the Netherlands (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to France stood at +38.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+5.9% per year) and the Netherlands (+12.9% per year).

In value terms, France ($X) remains the key foreign market for butter exports from Finland, comprising 40% of total exports. The second position in the ranking was held by Sweden ($X), with an 18% share of total exports. It was followed by the Netherlands, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to France stood at +45.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+9.6% per year) and the Netherlands (+16.5% per year).

Export Prices by Country

In 2022, the average butter export price amounted to $X per ton, with an increase of 62% against the previous year. Overall, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter export price increased by +66.8% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Israel ($X 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 Russia (+13.2%), while the prices for the other major destinations experienced more modest paces of growth.

Butter Imports

Imports into Finland

In 2022, after five years of decline, there was significant growth in supplies from abroad of butter, when their volume increased by 6.5% to X tons. In general, imports, however, saw a abrupt decrease. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, butter imports skyrocketed to $X in 2022. Over the period under review, imports, however, continue to indicate a abrupt slump. The growth pace was the most rapid in 2017 with an increase of 43%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), Denmark (X tons) and Italy (X tons) were the main suppliers of butter imports to Finland, together comprising 97% of total imports. France and the Netherlands lagged somewhat behind, together accounting for a further 3.4%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +6.1%), while imports for the other leaders experienced a decline.

In value terms, Germany ($X), Denmark ($X) and Italy ($X) were the largest butter suppliers to Finland, together accounting for 96% of total imports. France and the Netherlands lagged somewhat behind, together accounting for a further 4.1%.

Among the main suppliers, France, with a CAGR of +4.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average butter import price amounted to $X per ton, rising by 12% against the previous year. Over the period under review, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter import price increased by +19.4% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 46% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 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 the Netherlands ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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