Finland: Potato Market 2024

Potato Market Size in Finland

The Finnish potato market soared to $X in 2021, with an increase of 21% against the previous year. Over the period under review, the total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -13.8% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Potato Production in Finland

In value terms, potato production surged to $X in 2021 estimated in export price. Overall, production, however, enjoyed a strong increase. The pace of growth was the most pronounced in 2013 when the production volume increased by 146% against the previous year. Potato production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

The average yield of potatoes in Finland contracted slightly to X tons per ha in 2021, declining by -2.1% on 2020 figures. The yield figure increased at an average annual rate of +2.5% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 19% against the previous year. Over the period under review, the average potato yield hit record highs at X tons per ha in 2020, and then contracted 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 total area harvested in terms of potatoes production in Finland reached X ha, rising by 1.7% compared with 2020 figures. In general, the harvested area saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 6.8% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2014 to 2021, the growth of the potato harvested area remained at a somewhat lower figure.

Potato Exports

Exports from Finland

In 2021, approx. X tons of potatoes were exported from Finland; jumping by 29% compared with 2020 figures. In general, exports, however, showed a deep setback. The most prominent rate of growth was recorded in 2018 with an increase of 42%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, potato exports soared to $X in 2021. Over the period under review, exports, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 when exports increased by 37% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Latvia (X tons), Sweden (X tons) and Estonia (X tons) were the main destinations of potato exports from Finland, with a combined 64% share of total exports. These countries were followed by Lithuania, Russia, the Netherlands and Norway, which together accounted for a further 32%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +195.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for potato exported from Finland were Sweden ($X), Russia ($X) and Latvia ($X), together accounting for 61% of total exports. Estonia, the Netherlands, Lithuania and Norway lagged somewhat behind, together accounting for a further 32%.

Among the main countries of destination, the Netherlands, with a CAGR of +132.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average potato export price amounted to $X per ton, with a decrease of -8.4% against the previous year. Over the period under review, the export price showed a noticeable curtailment. The most prominent rate of growth was recorded in 2016 an increase of 18%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Russia ($X per ton), while the average price for exports to Latvia ($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 Sweden (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.

Potato Imports

Imports into Finland

In 2021, supplies from abroad of potatoes decreased by -1.7% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, imports recorded a deep reduction. The most prominent rate of growth was recorded in 2013 with an increase of 26% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, potato imports skyrocketed to $X in 2021. In general, imports continue to indicate a perceptible shrinkage. The pace of growth was the most pronounced in 2013 when imports increased by 29%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Denmark (X tons), Sweden (X tons) and Lithuania (X tons) were the main suppliers of potato imports to Finland, with a combined 89% share of total imports.

From 2012 to 2021, the biggest increases were in Lithuania (with a CAGR of +2.3%), while purchases for the other leaders experienced a decline.

In value terms, Sweden ($X) constituted the largest supplier of potato to Finland, comprising 53% of total imports. The second position in the ranking was held by Denmark ($X), with a 22% share of total imports. It was followed by Italy, with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Sweden amounted to -2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (-5.5% per year) and Italy (+2.0% per year).

Import Prices by Country

The average potato import price stood at $X per ton in 2021, increasing by 18% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2017 an increase of 19%. The import price peaked in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per ton), while the price for Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Estonia (+13.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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