Scandinavia: Market for Lucerne (Alfalfa) Meal And Pellets 2024

Market Size for Lucerne (Alfalfa) Meal And Pellets in Scandinavia

In 2021, the Scandinavia lucerne meal and pellets market decreased by -18.9% to $X, falling for the third year in a row after two years of growth. Overall, consumption continues to indicate a abrupt curtailment. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Lucerne (Alfalfa) Meal And Pellets in Scandinavia

In value terms, lucerne meal and pellets production contracted rapidly to $X in 2021 estimated in export price. In general, production showed a abrupt downturn. The pace of growth appeared the most rapid in 2020 when the production volume increased by 53% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Lucerne (Alfalfa) Meal And Pellets

Exports in Scandinavia

In 2021, shipments abroad of lucerne (alfalfa) meal and pellets decreased by -13.4% to X tons, falling for the third consecutive year after two years of growth. Overall, exports recorded a slight reduction. The pace of growth appeared the most rapid in 2018 with an increase of 60% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, lucerne meal and pellets exports reduced to $X in 2021. Total exports indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -34.4% against 2018 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 61%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Denmark (X tons) and Sweden (X tons) represented roughly 99.9% of total exports in 2021.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Sweden (with a CAGR of +24.3%).

In value terms, the largest lucerne meal and pellets supplying countries in Scandinavia were Sweden ($X) and Denmark ($X).

Among the main exporting countries, Sweden, with a CAGR of +23.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, picking up by 7.5% against the previous year. Over the last nine years, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2013 an increase of 13% against the previous year. Over the period under review, the export prices reached the maximum in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while Denmark stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+1.1%).

Imports of Lucerne (Alfalfa) Meal And Pellets

Imports in Scandinavia

In 2021, purchases abroad of lucerne (alfalfa) meal and pellets decreased by -14% to X tons, falling for the third consecutive year after two years of growth. In general, imports, however, posted a perceptible expansion. The growth pace was the most rapid in 2018 when imports increased by 162% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, lucerne meal and pellets imports shrank to $X in 2021. Over the period under review, imports, however, showed a tangible increase. The most prominent rate of growth was recorded in 2018 when imports increased by 115%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

The purchases of the three major importers of lucerne (alfalfa) meal and pellets, namely Sweden, Denmark and Norway, represented more than two-thirds of total import. The following importers - Finland (X tons) and Iceland (X tons) - each recorded a 3.7% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Denmark (with a CAGR of +24.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Denmark ($X) and Norway ($X) were the countries with the highest levels of imports in 2021, together accounting for 95% of total imports.

In terms of the main importing countries, Denmark, with a CAGR of +23.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2021, leveling off at the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the import price increased by 41%. Over the period under review, import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+12.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform