Scandinavia: Oil Crops Market 2024

Oil Crops Market Size in Scandinavia

The Scandinavia oil crops market contracted to $X in 2022, which is down by X% against the previous year. In general, consumption recorded a pronounced reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Oil Crops Production in Scandinavia

In value terms, oil crops production rose rapidly to $X in 2022 estimated in export price. Overall, production showed a abrupt downturn. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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

In Sweden, oil crops production remained relatively stable over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Finland (X% per year) and Norway (X% per year).

The average oil crops yield rose modestly to X tons per ha in 2022, with an increase of X% on the previous year. The yield figure increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, the yield attained the peak level of X tons per ha. From 2020 to 2022, the growth of the oil crops 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, approx. X ha of oil crops (primary) were harvested in Scandinavia; waning by X% compared with 2021. Overall, the harvested area recorded a noticeable reduction. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the harvested area dedicated to oil crops production attained the peak figure at X ha in 2013; however, from 2014 to 2022, the harvested area stood at a somewhat lower figure.

Oil Crops Exports

Exports in Scandinavia

After two years of decline, shipments abroad of oil crops (primary) increased by X% to X tons in 2022. Overall, exports saw a pronounced increase. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, oil crops exports surged to $X in 2022. In general, exports saw a perceptible increase. The most prominent rate of growth was recorded in 2019 when exports increased by X%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

The biggest shipments were from Sweden (X tons), together accounting for X% of total export.

Sweden was also the fastest-growing in terms of the oil crops (primary) exports, with a CAGR of X% from 2012 to 2022. Sweden (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) also remains the largest oil crops supplier in Scandinavia.

From 2012 to 2022, the average annual growth rate of value in Sweden amounted to X%.

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, shrinking by X% against the previous year. Export price indicated a mild expansion 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, oil crops export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the export price increased by X%. Over the period under review, the export prices attained the maximum at $X per ton in 2021, and then shrank modestly in the following year.

As there is only one major export destination, the average price level is determined by prices for Sweden.

From 2012 to 2022, the rate of growth in terms of prices for Sweden amounted to X% per year.

Oil Crops Imports

Imports in Scandinavia

In 2022, the amount of oil crops (primary) imported in Scandinavia declined markedly to X tons, dropping by X% against the previous year's figure. Overall, imports showed a mild slump. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then declined markedly in the following year.

In value terms, oil crops imports reached $X in 2022. Total imports indicated a slight expansion from 2012 to 2022: its value 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the near future.

Imports by Country

Norway represented the key importer of oil crops (primary) in Scandinavia, with the volume of imports recording X tons, which was near X% of total imports in 2022. Finland (X tons) held the second position in the ranking, followed by Sweden (X tons). All these countries together took near X% share of total imports.

Imports into Norway decreased at an average annual rate of X% from 2012 to 2022. At the same time, Sweden (X%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of X% from 2012-2022. By contrast, 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 imports from 2012-2022, the share of Finland (X p.p.) and Norway (X p.p.) displayed negative dynamics.

In value terms, Norway ($X), Sweden ($X) and Finland ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Sweden, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per ton, growing by X% against the previous year. Import price indicated a noticeable expansion 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, oil crops import price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when the import price increased by X%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Sweden ($X per ton), while Finland ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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