Scandinavia: Wheat Market 2024

Wheat Market Size in Scandinavia

The Scandinavia wheat market expanded sharply to $X in 2022, growing by X% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Wheat Production in Scandinavia

In value terms, wheat production declined slightly to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

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

From 2012 to 2022, the average annual growth rate of volume in Sweden totaled X%. In the other countries, the average annual rates were as follows: Finland (X% per year) and Norway (X% per year).

The average wheat yield rose markedly to X tons per ha in 2022, increasing by X% on 2021. Over the period under review, the yield recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the yield increased by X%. As a result, the yield reached the peak level of X tons per ha. From 2020 to 2022, the growth of the wheat yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of wheat in Scandinavia declined to X ha, shrinking by X% against the year before. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the harvested area increased by X%. As a result, the harvested area reached the peak level of X ha. From 2015 to 2022, the growth of the wheat harvested area remained at a somewhat lower figure.

Wheat Exports

Exports in Scandinavia

In 2022, overseas shipments of wheat decreased by X% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports, however, recorded mild growth. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, wheat exports soared to $X in 2022. Overall, exports, however, recorded noticeable growth. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Sweden prevails in exports structure, accounting for X tons, which was approx. X% of total exports in 2022. It was distantly followed by Finland (X tons), creating an X% share of total exports.

Sweden was also the fastest-growing in terms of the wheat exports, with a CAGR of X% from 2012 to 2022. Finland (X%) illustrated a downward trend over the same period. While the share of Sweden (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Finland (X p.p.) displayed negative dynamics.

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

In Sweden, wheat exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, rising by X% against the previous year. Export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wheat export price increased by X% against 2016 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per ton), while Sweden amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (X%).

Wheat Imports

Imports in Scandinavia

In 2022, purchases abroad of wheat increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, recorded a abrupt decline. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, wheat imports surged to $X in 2022. In general, imports, however, continue to indicate a noticeable contraction. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Norway represented the largest importing country with an import of around X tons, which reached X% of total imports. Finland (X tons) ranks second in terms of the total imports with an X% share, followed by Sweden (X%).

From 2012 to 2022, average annual rates of growth with regard to wheat imports into Norway stood at X%. At the same time, Finland (X%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of X% from 2012-2022. By contrast, Sweden (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Finland and Norway increased by X and X percentage points, respectively.

In value terms, Norway ($X) constitutes the largest market for imported wheat in Scandinavia, comprising X% of total imports. The second position in the ranking was held by Finland ($X), with a X% share of total imports.

In Norway, wheat imports contracted by an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Finland (X% per year) and Sweden (X% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, jumping by X% against the previous year. Import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wheat import price increased by X% against 2016 indices. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Sweden ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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