Milk market in Finland

Earlier Report Observations

Between 2018 and 2023, Finland's milk market volume contracted steadily, falling from 612.8 thousand tonnes to 457.0 thousand tonnes. This decline was primarily driven by reduced milk production, which dropped from 657.7 thousand tonnes to 512.2 thousand tonnes over the same period. The initial downturn in 2018-2019 was influenced by lower producer prices resulting from falling European milk prices and increased imports of cheap cheese, which squeezed farmer incomes despite state production subsidies. Although producer prices began to recover from 2021 onward, rising input costs—particularly due to poor domestic grain harvests—and an 8% reduction in the number of dairy farms limited production expansion.

Despite the shrinking volume, the market's value in monetary terms started to rebound after 2022, reaching 494.0 million USD in 2024. This shift was fueled by record increases in producer prices, which jumped by 15-29% in 2022 and another 33.6% in early 2023 as production costs continued to climb. Cooperative dairies invested in sustainability programs and competitiveness initiatives, while global demand growth in Asia, Africa, and the Middle East provided additional price support. By 2024, production volume showed signs of recovery, rising to 544.3 thousand tonnes and lifting market volume to 487.7 thousand tonnes.

Production milk in Finland

In value, 2017-2020, M $ US

In 2020, Finland's milk output was valued at 620.8 million US dollars, marking a 6.5% year-over-year increase. Production grew by 4.8% between 2017 and 2020, averaging an annualized rate of 1.6%. The lowest value was recorded in 2019 at 582.9 million US dollars, with the largest decline of 1.6% also occurring that year.

Annual dynamics of production in Finland in value, 2017-2020, M $ US

In kind, 2017-2020, K t

Top producers of milk, 2017-2020

World map of production of milk, 2017-2020

Finland's milk production volume declined for the third consecutive year. In 2020, the country produced 619.0 thousand tonnes of milk, reflecting a slight decrease of 2.1% compared to 2019. Over the period from 2017 to 2020, production fell by 12.5%, with a compound annual growth rate of -4.4%.

Annual dynamics of production in Finland in kind, 2017-2020, K t

Exports milk from Finland

Exports in kind, t

Finland exported 64 359 tonnes of milk in 2020, representing a significant increase of 36.2% compared to 2019. Between 2017 and 2020, exports rose by 16.7%, averaging an annualized growth rate of 5.3%. The lowest volume was recorded in 2019 at 47 261 tonnes, with the largest decline of 15.3% also occurring that year.

Annual dynamics of product's exports from Finland in kind, 2017-2020, t

From 2017 to 2020, China, Sweden, and Egypt remained the top buyers of milk from Finland, accounting for 28.6%, 21.4%, and 8.2% of exports in kind, respectively. Together, these three markets represented 58.2% of Finland's total milk exports by volume.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Finland in kind, 2017-2020

Exports in value, M $ US

Finland's milk exports increased for the second consecutive year. In 2020, exports reached 163.5 million US dollars, showing a sharp rise of 30.6% compared to the previous year. Between 2017 and 2020, export value grew by 37%, with an annualized rate of 11.1%. The lowest value was recorded in 2018 at 107.2 million US dollars, with the largest decline of 10.2% also occurring that year.

Annual dynamics of product's exports from Finland in value, 2017-2020, M $ US

From 2017 to 2020, three key markets—China, Sweden, and the Netherlands—collectively absorbed 58.8% of Finland's total milk exports in value terms.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Finland in value, 2017-2020

Imports milk to Finland

Imports in kind, t

After a two-year decline, Finland's milk imports increased in 2020. The country imported approximately 9 088 tonnes of milk, representing an 11.7% rise from 2019. Over the period from 2017 to 2020, imports decreased by 26.8%, with a compound annual growth rate of -9.9%. The lowest volume was recorded in 2019 at 8 136 tonnes, with the largest decline of 25.7% also occurring that year.

Annual dynamics of product's imports to Finland in kind, 2017-2020, t

From 2017 to 2020, Germany and Sweden remained the primary sources for Finland's milk imports in kind, jointly accounting for 84.6% of total import volumes, while other partners made up the remainder.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Finland in kind, 2017-2020

Imports in value, M $ US

After a two-year drop, Finland's milk imports increased in 2020. Imports totaled 10.2 million US dollars, reflecting a 4.8% increase compared to the previous year. Between 2017 and 2020, import value decreased by 10.3%, averaging an annualized decline of 3.6%. The lowest value was recorded in 2019 at 9.7 million US dollars, with the largest decline of 13.7% also occurring that year.

Annual dynamics of product's imports to Finland in value, 2017-2020, M $ US

From 2017 to 2020, Germany, Estonia, and Sweden led as the main suppliers of milk to Finland in value terms, accounting for 45.9%, 23.0%, and 9.0% of imports, respectively. Their combined share reached 78.0% of Finland's total milk imports by value.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Finland in value, 2017-2020