Finland: Preserved Sweet Corn Market 2023

Preserved Sweet Corn Market Size in Finland

In 2021, the Finnish preserved sweet corn market increased by 3.6% to $X, rising for the fourth consecutive year after three years of decline. In general, consumption, however, continues to indicate a prominent expansion. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in years to come.

Preserved Sweet Corn Exports

Exports from Finland

In 2021, overseas shipments of sweet corn prepared or preserved increased by 46% to X tons, rising for the second consecutive year after two years of decline. In general, exports, however, continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 49% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, preserved sweet corn exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a pronounced downturn. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Estonia (X tons) was the main destination for preserved sweet corn exports from Finland, with a 70% share of total exports. Moreover, preserved sweet corn exports to Estonia exceeded the volume sent to the second major destination, Russia (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume to Estonia totaled +11.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (-18.0% per year) and the United Arab Emirates (0.0% per year).

In value terms, Estonia ($X) remains the key foreign market for preserved sweet corn exports from Finland, comprising 75% of total exports. The second position in the ranking was taken by Russia ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Estonia amounted to +14.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (-18.2% per year) and the United Arab Emirates (0.0% per year).

Export Prices by Country

In 2021, the average preserved sweet corn export price amounted to $X per ton, growing by 9.6% against the previous year. Over the period under review, export price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved sweet corn export price increased by +65.9% against 2017 indices. The growth pace was the most rapid in 2016 when the average export price increased by 57% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (+2.9%), while the prices for the other major destinations experienced a decline.

Preserved Sweet Corn Imports

Imports into Finland

In 2021, purchases abroad of sweet corn prepared or preserved decreased by -1.6% to X tons for the first time since 2017, thus ending a three-year rising trend. Overall, imports, however, posted a strong expansion. The pace of growth appeared the most rapid in 2018 with an increase of 59%. Imports peaked at X tons in 2020, and then dropped modestly in the following year.

In value terms, preserved sweet corn imports expanded to $X in 2021. In general, imports, however, continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2019 when imports increased by 71%. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of preserved sweet corn to Finland, accounting for a 54% share of total imports. Moreover, preserved sweet corn imports from Spain exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. Hungary (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Spain stood at +40.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+4.9% per year) and Hungary (+216.4% per year).

In value terms, Spain ($X) constituted the largest supplier of preserved sweet corn to Finland, comprising 55% of total imports. The second position in the ranking was taken by Germany ($X), with a 19% share of total imports. It was followed by France, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Spain stood at +37.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+6.5% per year) and France (+3.3% per year).

Import Prices by Country

The average preserved sweet corn import price stood at $X per ton in 2021, picking up by 6.5% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 15% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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