Scandinavia: Pyrethrum And Peppermint Market 2024

Pyrethrum And Peppermint Exports

Exports in Scandinavia

In 2021, shipments abroad of pyrethrum and peppermint increased by 517% to X tons, rising for the second year in a row after two years of decline. Overall, exports showed prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, pyrethrum and peppermint exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a measured expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Denmark prevails in exports structure, amounting to X tons, which was near 93% of total exports in 2021. It was distantly followed by Sweden (X tons), achieving a 4.6% share of total exports. Norway (X tons) held a relatively small share of total exports.

Exports from Denmark increased at an average annual rate of +22.1% from 2012 to 2021. At the same time, Norway (+36.7%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +36.7% from 2012-2021. By contrast, Sweden (-12.2%) illustrated a downward trend over the same period. Denmark (+43 p.p.) and Norway (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while Sweden saw its share reduced by -43.4% from 2012 to 2021, respectively.

In value terms, Denmark ($X) emerged as the largest pyrethrum and peppermint supplier in Scandinavia, comprising 73% of total exports. The second position in the ranking was held by Sweden ($X), with a 24% share of total exports.

In Denmark, pyrethrum and peppermint exports increased at an average annual rate of +8.6% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Sweden (-5.8% per year) and Norway (+19.6% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, reducing by -66.5% against the previous year. Over the period under review, the export price showed a abrupt shrinkage. The pace of growth was the most pronounced in 2019 when the export price increased by 16%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Sweden ($X per ton), while Denmark ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+7.3%), while the other leaders experienced a decline in the export price figures.

Pyrethrum And Peppermint Imports

Imports in Scandinavia

For the third year in a row, Scandinavia recorded growth in overseas purchases of pyrethrum and peppermint, which increased by 16% to X tons in 2021. Total imports indicated a temperate increase from 2012 to 2021: its volume increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +56.9% against 2014 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, pyrethrum and peppermint imports amounted to $X in 2021. Total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +13.1% against 2016 indices. The most prominent rate of growth was recorded in 2016 with an increase of 27% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, Sweden (X tons) and Denmark (X tons) represented the key importers of pyrethrum and peppermint in Scandinavia, together committing 73% of total imports. Norway (X tons) ranks next in terms of the total imports with a 16% share, followed by Finland (10%).

From 2012 to 2021, the biggest increases were in Norway (with a CAGR of +6.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest pyrethrum and peppermint importing markets in Scandinavia were Denmark ($X), Sweden ($X) and Norway ($X), together accounting for 89% of total imports.

Norway, with a CAGR of +6.6%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per ton, dropping by -12.4% against the previous year. Over the last nine years, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2016 when the import price increased by 34% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Denmark ($X per ton) and Norway ($X per ton), while Sweden ($X per ton) and Finland ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+8.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform