Price for Butter and Other Fats and Oils Derived from Milk in Finland - 2023
Contents:
- Price for Butter and Other Fats and Oils Derived from Milk in Finland (FOB) - 2023
- Price for Butter and Other Fats and Oils Derived from Milk in Finland (CIF) - 2023
- Exports of Butter and Other Fats and Oils Derived from Milk in Finland
- Imports of Butter and Other Fats and Oils Derived from Milk in Finland
Price for Butter and Other Fats and Oils Derived from Milk in Finland (FOB) - 2023
The average export price for butter and other fats and oils derived from milk stood at $5,954 per ton in November 2023, picking up by 2.9% against the previous month. In general, the export price, however, showed a slight descent. The export price peaked at $6,830 per ton in November 2022; however, from December 2022 to November 2023, the export prices failed to regain momentum.
Average prices varied somewhat for the major export markets. In November 2023, the countries with the highest prices were the United States ($7,295 per ton) and Georgia ($6,840 per ton), while the average price for exports to Saudi Arabia ($5,378 per ton) and Ukraine ($5,437 per ton) were amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+0.4%), while the prices for the other major destinations experienced mixed trend patterns.
Price for Butter and Other Fats and Oils Derived from Milk in Finland (CIF) - 2023
The average import price for butter and other fats and oils derived from milk stood at $6,002 per ton in September 2023, declining by -6% against the previous month. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2023 when the average import price increased by 28% against the previous month. The import price peaked at $7,692 per ton in December 2022; however, from January 2023 to September 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Belgium ($9,432 per ton), while the price for Sweden ($4,257 per ton) was amongst the lowest.
From October 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Italy (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Butter and Other Fats and Oils Derived from Milk in Finland
In 2022, overseas shipments of butter and other fats and oils derived from milk decreased by -11.6% to 30K tons, falling for the second year in a row after two years of growth. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when exports increased by 19%. As a result, the exports attained the peak of 35K tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of butter and other fats and oils derived from milk surged to $173M in 2022. The total export value increased at an average annual rate of +2.5% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Butter and Other Fats and Oils Derived from Milk in Finland (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| France | 53.7 | 44.0 | 45.1 | 67.6 | 8.0% |
| Sweden | 34.4 | 35.9 | 30.8 | 31.1 | -3.3% |
| Netherlands | 26.7 | 25.8 | 21.9 | 17.9 | -12.5% |
| Belgium | 6.6 | 5.4 | 6.2 | 10.9 | 18.2% |
| Poland | 2.8 | 4.0 | 9.4 | 9.4 | 49.7% |
| Azerbaijan | 3.1 | 3.6 | 4.1 | 5.6 | 21.8% |
| Estonia | 2.6 | 2.5 | 3.4 | 4.0 | 15.4% |
| Saudi Arabia | 3.1 | 2.9 | 3.8 | 3.3 | 2.1% |
| Israel | 5.2 | 8.1 | 3.1 | 3.2 | -14.9% |
| Armenia | 2.7 | 2.8 | 3.5 | 3.0 | 3.6% |
| Germany | 4.9 | 1.3 | 2.5 | 2.4 | -21.2% |
| Others | 14.9 | 12.1 | 12.4 | 14.7 | -0.4% |
| Total | 161 | 148 | 146 | 173 | 2.4% |
Top Export Markets for Butter and Other Fats and Oils Derived from Milk from Finland in 2022:
- France (10.9K tons)
- Sweden (6.5K tons)
- Netherlands (2.9K tons)
- Belgium (1.8K tons)
- Poland (1.7K tons)
- Azerbaijan (1.0K tons)
- Estonia (0.7K tons)
- Saudi Arabia (0.6K tons)
- Israel (0.6K tons)
- Armenia (0.5K tons)
- Germany (0.4K tons)
Imports of Butter and Other Fats and Oils Derived from Milk in Finland
For the third year in a row, Finland recorded decline in overseas purchases of butter and other fats and oils derived from milk, which decreased by -3.5% to 899 tons in 2022. Over the period under review, imports continue to indicate a perceptible decline. The smallest decline of -3.1% was in 2020.
In value terms, imports of butter and other fats and oils derived from milk rose remarkably to $5.5M in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Butter and Other Fats and Oils Derived from Milk in Finland (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 1,846 | 1,551 | 1,194 | 1,959 | 2.0% |
| Sweden | 1,653 | 1,280 | 1,266 | 1,294 | -7.8% |
| Denmark | 706 | 880 | 1,194 | 916 | 9.1% |
| Netherlands | 709 | 461 | 597 | 569 | -7.1% |
| Belgium | 166 | 159 | 376 | 563 | 50.2% |
| Italy | 84.8 | 127 | 143 | 184 | 29.5% |
| Others | 331 | 158 | 54.1 | 47.1 | -47.8% |
| Total | 5,495 | 4,616 | 4,823 | 5,534 | 0.2% |
Top Suppliers of Butter and Other Fats and Oils Derived from Milk to Finland in 2022:
- Sweden (322.2 tons)
- Germany (270.8 tons)
- Denmark (147.1 tons)
- Netherlands (64.7 tons)
- Belgium (57.2 tons)
- Italy (32.5 tons)
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This report provides an in-depth analysis of the butter and ghee market in Finland.
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This report provides an in-depth analysis of the market for butter and dairy spreads in Finland.
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This report provides an in-depth analysis of the global butter and ghee market.
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This year global butter production is anticipated to keep up with ha last year, amounting to 5.6M tons. The EU is forecast to decrease butter exports due to a slight drop in production amid an increase in demand. Butter exports from New Zealand are not forecast to grow due to increased competition with UHT cream for food service being increasingly in demand.
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