Finland: Crude Coconut Oil Market 2024

Crude Coconut Oil Market Size in Finland

The Finnish crude coconut oil market fell remarkably to $X in 2022, declining by -39.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption faced a dramatic decline. The growth pace was the most rapid in 2018 with an increase of 6.7%. Crude coconut oil consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Crude Coconut Oil Exports

Exports from Finland

In 2022, shipments abroad of crude coconut (copra) oil increased by 93% to X tons, rising for the third consecutive year after two years of decline. Overall, exports saw a remarkable increase. The growth pace was the most rapid in 2014 when exports increased by 381% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, crude coconut oil exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 499% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Sweden (X kg) was the main destination for crude coconut oil exports from Finland, accounting for a 54% share of total exports. Moreover, crude coconut oil exports to Sweden exceeded the volume sent to the second major destination, the Czech Republic (X kg), threefold. The third position in this ranking was taken by Estonia (X kg), with a 13% share.

From 2013 to 2022, the average annual growth rate of volume to Sweden stood at +86.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+252.2% per year) and Estonia (+12.5% per year).

In value terms, Sweden ($X), the Czech Republic ($X) and Estonia ($X) were the largest markets for crude coconut oil exported from Finland worldwide, together comprising 91% of total exports.

The Czech Republic, with a CAGR of +297.7%, saw 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

In 2022, the average crude coconut oil export price amounted to $X per ton, increasing by 2.2% against the previous year. Overall, the export price posted a moderate expansion. The pace of growth appeared the most rapid in 2019 when the average export price increased by 70% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

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

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (+12.9%), while the prices for the other major destinations experienced mixed trend patterns.

Crude Coconut Oil Imports

Imports into Finland

In 2022, crude coconut oil imports into Finland contracted rapidly to X tons, reducing by -42.7% on 2021 figures. Over the period under review, imports recorded a dramatic decrease. The pace of growth was the most pronounced in 2018 with an increase of 13% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, crude coconut oil imports contracted notably to $X in 2022. Overall, imports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 19% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The Netherlands (X tons), the Philippines (X tons) and Sri Lanka (X tons) were the main suppliers of crude coconut oil imports to Finland, together comprising 85% of total imports.

From 2012 to 2022, the biggest increases were recorded for Sri Lanka (with a CAGR of +25.1%), while purchases for the other leaders experienced a decline.

In value terms, the Philippines ($X), the Netherlands ($X) and Germany ($X) constituted the largest crude coconut oil suppliers to Finland, together comprising 81% of total imports. Sri Lanka, Sweden and Indonesia lagged somewhat behind, together comprising a further 15%.

Sri Lanka, with a CAGR of +25.1%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average crude coconut oil import price amounted to $X per ton, growing by 11% against the previous year. Overall, the import price posted a resilient increase. The pace of growth was the most pronounced in 2013 an increase of 67%. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Germany ($X per ton) and the Philippines ($X per ton), while the price for Sri Lanka ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+18.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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