Finland: Refined Coconut Oil Market 2025

Refined Coconut Oil Market Size in Finland

The Finnish refined coconut oil market contracted to $X in 2022, waning by -7.5% against the previous year. Overall, consumption, however, posted a resilient increase. Refined coconut oil consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Refined Coconut Oil Production in Finland

In value terms, refined coconut oil production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, posted a remarkable increase. The pace of growth appeared the most rapid in 2014 with an increase of 83%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Refined Coconut Oil Exports

Exports from Finland

Refined coconut oil exports from Finland soared to X tons in 2022, jumping by 244% against 2021 figures. Over the period under review, exports showed a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 668%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, refined coconut oil exports soared to $X in 2022. In general, exports posted a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia (X tons) was the main destination for refined coconut oil exports from Finland, with a 72% share of total exports. Moreover, refined coconut oil exports to Russia exceeded the volume sent to the second major destination, Estonia (X tons), fivefold. Norway (X tons) ranked third in terms of total exports with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia amounted to +106.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+18.8% per year) and Norway (+502.5% per year).

In value terms, Russia ($X) emerged as the key foreign market for refined coconut (copra) oil exports from Finland, comprising 74% of total exports. The second position in the ranking was held by Estonia ($X), with an 11% share of total exports. It was followed by Norway, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia amounted to +70.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+10.8% per year) and Norway (+592.6% per year).

Export Prices by Country

In 2022, the average refined coconut oil export price amounted to $X per ton, picking up by 27% against the previous year. Over the period under review, the export price, however, showed a abrupt downturn. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the 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 Norway ($X per ton), while the average price for exports to Estonia ($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 Norway (+14.9%), while the prices for the other major destinations experienced a decline.

Refined Coconut Oil Imports

Imports into Finland

In 2022, approx. X tons of refined coconut (copra) oil were imported into Finland; dropping by -6.8% on the previous year's figure. Overall, imports, however, showed a strong expansion. The pace of growth appeared the most rapid in 2013 with an increase of 59%. Imports peaked at X tons in 2021, and then declined in the following year.

In value terms, refined coconut oil imports skyrocketed to $X in 2022. In general, imports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2013 with an increase of 62%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest supplier of refined coconut oil to Finland, with a 49% share of total imports. Moreover, refined coconut oil imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was taken by Sweden (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Netherlands totaled +92.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+57.9% per year) and Sweden (-1.5% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of refined coconut (copra) oil to Finland, comprising 45% of total imports. The second position in the ranking was held by Germany ($X), with a 15% share of total imports. It was followed by Sweden, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from the Netherlands amounted to +84.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+39.0% per year) and Sweden (+3.3% per year).

Import Prices by Country

The average refined coconut oil import price stood at $X per ton in 2022, growing by 46% against the previous year. In general, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined coconut oil import price increased by +83.2% against 2020 indices. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 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 UK ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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