Finland: Dry Peas Market 2024

Dry Peas Market Size in Finland

In 2021, after three years of growth, there was significant decline in the Finnish dry peas market, when its value decreased by -10.8% to $X. In general, consumption, however, continues to indicate a buoyant increase. Over the period under review, the market reached the maximum level at $X in 2020, and then declined in the following year.

Dry Peas Production in Finland

In value terms, dry peas production reduced notably to $X in 2021 estimated in export price. Overall, production, however, saw noticeable growth. The most prominent rate of growth was recorded in 2020 with an increase of 101%. As a result, production attained the peak level of $X, and then shrank dramatically in the following year.

In 2021, the average yield of peas (dry) in Finland contracted slightly to X tons per ha, flattening at the previous year. The yield figure increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 23%. The dry peas yield peaked at X tons per ha in 2020, and then dropped in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the harvested area of peas (dry) in Finland shrank modestly to X ha, which is down by -4% compared with 2020 figures. In general, the harvested area, however, enjoyed buoyant growth. The pace of growth was the most pronounced in 2015 with an increase of 113%. The dry peas harvested area peaked at X ha in 2020, and then declined modestly in the following year.

Dry Peas Exports

Exports from Finland

In 2021, the amount of peas (dry) exported from Finland soared to X tons, with an increase of 38% against the previous year's figure. Overall, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2018 with an increase of 3,498% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, dry peas exports soared to $X in 2021. In general, exports saw significant growth. The pace of growth appeared the most rapid in 2018 with an increase of 1,243%. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in years to come.

Exports by Country

Norway (X tons), the UK (X tons) and Estonia (X tons) were the main destinations of dry peas exports from Finland, with a combined 100% share of total exports.

From 2012 to 2021, the biggest increases were in Norway (with a CAGR of +367.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) emerged as the key foreign market for dry peas exports from Finland, comprising 65% of total exports. The second position in the ranking was held by Norway ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+438.3% per year) and Estonia (+11.4% per year).

Export Prices by Country

The average dry peas export price stood at $X per ton in 2021, surging by 113% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was the UK ($X per ton), while the average price for exports to Norway ($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 Norway (+15.2%), while the prices for the other major destinations experienced mixed trend patterns.

Dry Peas Imports

Imports into Finland

In 2021, after two years of decline, there was significant growth in purchases abroad of peas (dry), when their volume increased by 56% to X tons. Over the period under review, imports saw a strong expansion. The pace of growth was the most pronounced in 2014 when imports increased by 829% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, dry peas imports skyrocketed to $X in 2021. Overall, imports posted a remarkable increase. The growth pace was the most rapid in 2014 when imports increased by 262%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Estonia (X tons) constituted the largest supplier of dry peas to Finland, with a 67% share of total imports. Moreover, dry peas imports from Estonia exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), eightfold. The Czech Republic (X tons) ranked third in terms of total imports with a 7.4% share.

From 2012 to 2021, the average annual growth rate of volume from Estonia stood at +124.9%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+0.8% per year) and the Czech Republic (+12.8% per year).

In value terms, the largest dry peas suppliers to Finland were Estonia ($X), France ($X) and Germany ($X), together accounting for 61% of total imports.

Among the main suppliers, Estonia, with a CAGR of +154.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average dry peas import price amounted to $X per ton, with a decrease of -16.6% against the previous year. In general, the import price showed a deep downturn. The pace of growth was the most pronounced in 2015 an increase of 98%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+25.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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