Finland: Rice Bran Market 2024

Rice Bran Market Size in Finland

For the fifth consecutive year, the Finnish rice bran market recorded decline in sales value, which decreased by -7.9% to $X in 2021. Over the period under review, the total consumption indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -45.8% against 2016 indices. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Rice Bran Production in Finland

In value terms, rice bran production reduced to $X in 2021 estimated in export price. In general, production continues to indicate a deep contraction. The pace of growth appeared the most rapid in 2016 with an increase of 69%. Rice bran production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Rice Bran Exports

Exports from Finland

In 2021, approx. X tons of rice bran were exported from Finland; with a decrease of -11.6% compared with the previous year. In general, exports saw a precipitous descent. The smallest decline of -4.9% was in 2013. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, rice bran exports skyrocketed to $X in 2021. Over the period under review, exports recorded a abrupt contraction. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Sweden (X tons) was the main destination for rice bran exports from Finland, with a 65% share of total exports. Moreover, rice bran exports to Sweden exceeded the volume sent to the second major destination, France (X tons), sixfold. Portugal (X tons) ranked third in terms of total exports with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Sweden amounted to -10.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-35.4% per year) and Portugal (+10.5% per year).

In value terms, the largest markets for rice bran exported from Finland were France ($X), Sweden ($X) and Portugal ($X), together accounting for 52% of total exports. Japan, the Netherlands, Italy, Russia, Germany and Estonia lagged somewhat behind, together accounting for a further 33%.

The Netherlands, with a CAGR of +68.1%, 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 2021, the average rice bran export price amounted to $X per ton, with an increase of 32% against the previous year. Over the period under review, the export price saw strong growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Sweden ($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 Japan (+42.2%), while the prices for the other major destinations experienced more modest paces of growth.

Rice Bran Imports

Imports into Finland

In 2021, approx. X tons of rice bran were imported into Finland; declining by -29.8% compared with the previous year's figure. In general, imports continue to indicate a sharp downturn. The pace of growth was the most pronounced in 2020 when imports increased by 46%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, rice bran imports fell notably to $X in 2021. Overall, imports continue to indicate a sharp decline. The pace of growth appeared the most rapid in 2020 with an increase of 66% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Estonia (X tons) constituted the largest supplier of rice bran to Finland, with a 79% share of total imports. Moreover, rice bran imports from Estonia exceeded the figures recorded by the second-largest supplier, Sweden (X tons), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Estonia stood at -16.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-3.6% per year) and Denmark (-56.3% per year).

In value terms, Sweden ($X), Estonia ($X) and Denmark ($X) appeared to be the largest rice bran suppliers to Finland, together comprising 96% of total imports.

Among the main suppliers, Sweden, with a CAGR of -14.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average rice bran import price stood at $X per ton in 2021, dropping by -16.7% against the previous year. Over the period under review, import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 an increase of 94%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+58.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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