Finland: Margarine And Shortening Market 2024

Margarine And Shortening Market Size in Finland

The Finnish margarine and shortening market rose modestly to $X in 2022, surging by 2.9% against the previous year. Over the period under review, consumption saw a noticeable contraction. Margarine and shortening consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Margarine And Shortening Production in Finland

In value terms, margarine and shortening production rose to $X in 2022 estimated in export price. In general, production continues to indicate a deep contraction. The pace of growth appeared the most rapid in 2018 with an increase of 99%. Margarine and shortening production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Margarine And Shortening Exports

Exports from Finland

In 2022, shipments abroad of margarine and shortening was finally on the rise to reach X tons after two years of decline. In general, exports, however, saw a abrupt decrease. The pace of growth appeared the most rapid in 2018 with an increase of 29% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, margarine and shortening exports skyrocketed to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 26% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Sweden (X tons), Norway (X tons) and Estonia (X tons) were the main destinations of margarine and shortening exports from Finland, together comprising 85% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Norway (with a CAGR of +199.2%), while the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Norway ($X) and Estonia ($X) appeared to be the largest markets for margarine and shortening exported from Finland worldwide, together comprising 88% of total exports.

In terms of the main countries of destination, Norway, with a CAGR of +190.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average margarine and shortening export price amounted to $X per ton, growing by 5.8% against the previous year. Over the period under review, the export price, however, showed a noticeable decline. The most prominent rate of growth was recorded in 2020 an increase of 22% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 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 Sweden ($X per ton), while the average price for exports to Denmark ($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 Estonia (+0.4%), while the prices for the other major destinations experienced a decline.

Margarine And Shortening Imports

Imports into Finland

In 2022, approx. X tons of margarine and shortening were imported into Finland; picking up by 4.4% on the year before. Over the period under review, imports, however, continue to indicate a mild curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 12%. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, margarine and shortening imports reached $X in 2022. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 29%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Sweden (X tons) constituted the largest margarine and shortening supplier to Finland, accounting for a 65% share of total imports. Moreover, margarine and shortening imports from Sweden exceeded the figures recorded by the second-largest supplier, Denmark (X tons), fivefold. The Netherlands (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Sweden totaled -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (-3.3% per year) and the Netherlands (-0.7% per year).

In value terms, Sweden ($X) constituted the largest supplier of margarine and shortening to Finland, comprising 59% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 12% share of total imports. It was followed by Belgium, with a 9.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Sweden was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-0.2% per year) and Belgium (+19.3% per year).

Import Prices by Country

In 2022, the average margarine and shortening import price amounted to $X per ton, reducing by -2.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2021 when the average import price increased by 20% against the previous year. The import price peaked at $X per ton in 2013; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Denmark ($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 UK (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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