Finland: Market for Sunflower-Seed And Safflower Oil 2024

Market Size for Sunflower-Seed And Safflower Oil in Finland

For the fourth consecutive year, the Finnish sunflower-seed and safflower oil market recorded growth in sales value, which increased by 18% to $X in 2022. Overall, the total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +67.1% against 2016 indices. Sunflower-seed and safflower oil consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Sunflower-Seed And Safflower Oil in Finland

In value terms, sunflower-seed and safflower oil production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a significant increase. The growth pace was the most rapid in 2013 when the production volume increased by 659% against the previous year. Sunflower-seed and safflower oil production peaked in 2022 and is likely to continue growth in the near future.

Exports of Sunflower-Seed And Safflower Oil

Exports from Finland

In 2022, the amount of sunflower-seed and safflower oil exported from Finland soared to X tons, growing by 129% compared with the previous year. In general, exports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2021 with an increase of 193% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, sunflower-seed and safflower oil exports surged to $X in 2022. Overall, exports posted strong growth. The most prominent rate of growth was recorded in 2021 when exports increased by 238%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Poland (X tons) was the main destination for sunflower-seed and safflower oil exports from Finland, accounting for a 62% share of total exports. Moreover, sunflower-seed and safflower oil exports to Poland exceeded the volume sent to the second major destination, Estonia (X tons), threefold. The third position in this ranking was held by Saudi Arabia (X tons), with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Poland was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+10.8% per year) and Saudi Arabia (+96.5% per year).

In value terms, Poland ($X), the Netherlands ($X) and Estonia ($X) appeared to be the largest markets for sunflower-seed and safflower oil exported from Finland worldwide, together accounting for 85% of total exports.

The Netherlands, with a CAGR of +25,061.1%, recorded the highest growth rate of 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 2022, the average sunflower-seed and safflower oil export price amounted to $X per ton, increasing by 12% against the previous year. Over the last decade, it increased at an average annual rate of +3.6%. The most prominent rate of growth was recorded in 2017 when the average export price increased by 34% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Estonia ($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 the Netherlands (+638.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sunflower-Seed And Safflower Oil

Imports into Finland

For the third consecutive year, Finland recorded growth in supplies from abroad of sunflower-seed and safflower oil, which increased by 58% to X tons in 2022. In general, imports recorded prominent growth. The most prominent rate of growth was recorded in 2020 when imports increased by 105% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, sunflower-seed and safflower oil imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Germany (X tons) constituted the largest sunflower-seed and safflower oil supplier to Finland, accounting for a 37% share of total imports. Moreover, sunflower-seed and safflower oil imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. Poland (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to +42.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+2.1% per year) and Poland (+176.7% per year).

In value terms, Germany ($X), Belgium ($X) and Poland ($X) constituted the largest sunflower-seed and safflower oil suppliers to Finland, together accounting for 69% of total imports.

Poland, with a CAGR of +174.2%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average sunflower-seed and safflower oil import price stood at $X per ton in 2022, jumping by 26% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 29%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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