Finland: Market for Wheat and Meslin Flour 2024

Market Size for Wheat and Meslin Flour in Finland

The Finnish wheat and meslin flour market contracted rapidly to $X in 2022, reducing by -29.1% against the previous year. Overall, consumption showed a abrupt downturn. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Wheat and Meslin Flour in Finland

In value terms, wheat and meslin flour production fell dramatically to $X in 2022 estimated in export price. In general, production recorded a abrupt slump. The growth pace was the most rapid in 2013 with an increase of 18% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Exports of Wheat and Meslin Flour

Exports from Finland

In 2022, overseas shipments of wheat and meslin flour decreased by -19.8% to X tons, falling for the ninth consecutive year after two years of growth. In general, exports saw a abrupt slump. The most prominent rate of growth was recorded in 2013 when exports increased by 33% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, wheat and meslin flour exports expanded notably to $X in 2022. Overall, exports showed a deep contraction. The most prominent rate of growth was recorded in 2013 with an increase of 42% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Estonia (X tons), Sweden (X tons) and the Netherlands (X tons) were the main destinations of wheat and meslin flour exports from Finland, together comprising 69% of total exports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +15.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Estonia ($X), Sweden ($X) and the Netherlands ($X) constituted the largest markets for wheat and meslin flour exported from Finland worldwide, with a combined 70% share of total exports.

The Netherlands, with a CAGR of +14.2%, recorded the highest growth rate of the value of exports, in terms of 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

The average wheat and meslin flour export price stood at $X per ton in 2022, jumping by 38% against the previous year. Over the period under review, export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wheat and meslin flour export price increased by +82.8% against 2015 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Czech Republic ($X per ton) and Sweden ($X per ton), while the average price for exports to Slovakia ($X per ton) and Lithuania ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (+5.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wheat and Meslin Flour

Imports into Finland

In 2022, the amount of wheat and meslin flour imported into Finland dropped dramatically to X tons, with a decrease of -35.6% compared with 2021 figures. Over the period under review, imports recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2014 when imports increased by 16%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, wheat and meslin flour imports shrank rapidly to $X in 2022. Overall, imports recorded a deep downturn. The pace of growth appeared the most rapid in 2016 when imports increased by 7.3% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Latvia (X tons) constituted the largest wheat and meslin flour supplier to Finland, accounting for a 63% share of total imports. Moreover, wheat and meslin flour imports from Latvia exceeded the figures recorded by the second-largest supplier, Italy (X tons), fourfold. Estonia (X tons) ranked third in terms of total imports with an 8% share.

From 2012 to 2022, the average annual growth rate of volume from Latvia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+30.6% per year) and Estonia (-23.7% per year).

In value terms, Latvia ($X), Italy ($X) and Sweden ($X) constituted the largest wheat and meslin flour suppliers to Finland, with a combined 69% share of total imports. Germany, Estonia and Luxembourg lagged somewhat behind, together accounting for a further 18%.

Luxembourg, with a CAGR of +45.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average wheat and meslin flour import price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 15%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Luxembourg (+4.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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