Scandinavia: Rice Market 2025

Rice Market Size in Scandinavia

After three years of growth, the Scandinavia rice market decreased by -6.9% to $X in 2021. The market value increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. The level of consumption peaked at $X in 2020, and then shrank in the following year.

Rice Production in Scandinavia

In value terms, rice production rose rapidly to $X in 2021 estimated in export price. The total production indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +104.8% against 2015 indices. The most prominent rate of growth was recorded in 2016 with an increase of 31%. Over the period under review, production hit record highs in 2021 and is likely to see gradual growth in years to come.

The country with the largest volume of rice production was Finland (X tons), comprising approx. 61% of total volume. Moreover, rice production in Finland exceeded the figures recorded by the second-largest producer, Denmark (X tons), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume in Finland amounted to +3.1%. The remaining producing countries recorded the following average annual rates of production growth: Denmark (+2.2% per year) and Sweden (+6.4% per year).

Rice Exports

Exports in Scandinavia

In 2021, the amount of rice exported in Scandinavia declined to X tons, with a decrease of -7.7% compared with 2020. The total export volume increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when exports increased by 24% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, rice exports dropped modestly to $X in 2021. The total export value increased at an average annual rate of +1.3% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2014 when exports increased by 17% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Denmark was the key exporter of rice in Scandinavia, with the volume of exports accounting for X tons, which was near 78% of total exports in 2021. It was distantly followed by Sweden (X tons), constituting a 19% share of total exports. Norway (X tons) followed a long way behind the leaders.

Denmark was also the fastest-growing in terms of the rice exports, with a CAGR of +4.9% from 2012 to 2021. Sweden (-2.5%) and Norway (-13.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Denmark increased by +17 percentage points.

In value terms, Denmark ($X) remains the largest rice supplier in Scandinavia, comprising 71% of total exports. The second position in the ranking was taken by Sweden ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Denmark amounted to +3.7%. In the other countries, the average annual rates were as follows: Sweden (-1.6% per year) and Norway (-9.0% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, with an increase of 7.4% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the export price increased by 19%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+5.2%), while the other leaders experienced mixed trends in the export price figures.

Rice Imports

Imports in Scandinavia

In 2021, after three years of growth, there was significant decline in overseas purchases of rice, when their volume decreased by -7% to X tons. The total import volume increased at an average annual rate of +1.6% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 7.9% against the previous year. As a result, imports reached the peak of X tons, and then reduced in the following year.

In value terms, rice imports shrank to $X in 2021. The total import value increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2019 when imports increased by 11% against the previous year. The level of import peaked at $X in 2020, and then declined in the following year.

Imports by Country

In 2021, Sweden (X tons), Denmark (X tons), Finland (X tons) and Norway (X tons) was the major importer of rice in Scandinavia, committing 98% of total import. Iceland (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Iceland (with a CAGR of +8.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Denmark ($X) and Norway ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 83% of total imports. Finland and Iceland lagged somewhat behind, together comprising a further 17%.

In terms of the main importing countries, Finland, with a CAGR of +2.5%, 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

In 2021, the import price in Scandinavia amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the import price increased by 9.5%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+0.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform