Finland: Ghee Market Overview 2021

Ghee Market Size in Finland

In 2020, the Finnish ghee market decreased by -X% to $X, falling for the second year in a row after two years of growth. Overall, consumption, however, showed prominent growth. The growth pace was the most rapid in 2012 when the market value increased by X% y-o-y. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2020, consumption remained at a lower figure.

Ghee Exports

Exports from Finland

In 2020, after thirteen years of growth, there was significant decline in shipments abroad of ghee, when their volume decreased by -X% to X kg. Overall, exports saw a deep contraction. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. As a result, exports attained the peak of X tonnes, and then declined rapidly in the following year.

In value terms, ghee exports dropped notably to $X in 2020. Over the period under review, exports showed a noticeable curtailment. The pace of growth was the most pronounced in 2011 with an increase of X% against the previous year. Over the period under review, exports attained the peak figure at $X in 2019, and then shrank significantly in the following year.

Exports by Country

Japan (X kg) was the main destination for ghee exports from Finland, accounting for a X% share of total exports. Moreover, ghee exports to Japan exceeded the volume sent to the second major destination, Spain (X kg), twofold.

From 2007 to 2020, the average annual growth rate of volume to Japan stood at +X%.

In value terms, Japan ($X) remains the key foreign market for ghee exports from Finland, comprising X% of total exports. The second position in the ranking was occupied by Spain ($X), with a X% share of total exports.

From 2007 to 2020, the average annual growth rate of value to Japan stood at +X%.

Export Prices by Country

In 2020, the average ghee export price amounted to $X per tonne, surging by X% against the previous year. Overall, the export price showed a strong increase. As a result, export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the country of destination; the country with the highest price was Japan ($X per tonne), while the average price for exports to Spain totaled $X per tonne.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Spain.

Ghee Imports

Imports into Finland

For the third year in a row, Finland recorded decline in purchases abroad of ghee, which decreased by -X% to X tonnes in 2020. Overall, imports, however, enjoyed a notable expansion. The growth pace was the most rapid in 2014 when imports increased by X% year-to-year. As a result, imports attained the peak of X tonnes. from 2015 to 2020, the growth imports failed to regain the momentum.

In value terms, ghee imports declined markedly to $X in 2020. Over the period under review, imports, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2012 with an increase of X% y-o-y. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2020, imports failed to regain the momentum.

Imports by Country

In 2020, the Netherlands (X tonnes) constituted the largest supplier of ghee to Finland, accounting for a X% share of total imports. Moreover, ghee imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Belgium (X tonnes), sixfold. Sweden (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from the Netherlands amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+X% per year) and Sweden (-X% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of ghee to Finland, comprising X% of total imports. The second position in the ranking was occupied by Germany ($X), with a X% share of total imports. It was followed by Belgium, with a X% share.

From 2007 to 2020, the average annual growth rate of value from the Netherlands amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+X% per year) and Belgium (+X% per year).

Import Prices by Country

In 2020, the average ghee import price amounted to $X per tonne, rising by X% against the previous year. Over the period under review, import price indicated strong growth from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when the average import price increased by X% y-o-y. The import price peaked in 2020 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Germany ($X per tonne), while the price for the Netherlands ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by India, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for ghee in the world?

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The country with the largest volume of ghee consumption was India (3.8M tonnes), accounting for 74% of total volume. Moreover, ghee consumption in India exceeded the figures recorded by the second-largest consumer, Pakistan (876K tonnes), fourfold.

What are the largest producers of ghee in the world?

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India (3.8M tonnes) constituted the country with the largest volume of ghee production, accounting for 73% of total volume. Moreover, ghee production in India exceeded the figures recorded by the second-largest producer, Pakistan (876K tonnes), fourfold.

What are the leading suppliers of ghee to Finland?

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In value terms, the Netherlands ($444K) constituted the largest supplier of ghee to Finland, comprising 53% of total imports. The second position in the ranking was occupied by Germany ($121K), with a 14% share of total imports. It was followed by Belgium, with a 14% share.

What are the leading importers of ghee from Finland?

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In value terms, Japan ($3.7K) remains the key foreign market for ghee exports from Finland, comprising 81% of total exports. The second position in the ranking was occupied by Spain ($846), with a 18% share of total exports.

What is the average export price for ghee in Finland?

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In 2020, the average ghee export price amounted to $15,408 per tonne, increasing by 613% against the previous year.

What is the average import price for ghee in Finland?

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The average ghee import price stood at $8,411 per tonne in 2020, with an increase of 31% against the previous year.

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