Palm oil and fractions market in Finland

Earlier Report Observations

Between 2018 and 2024, the Finnish market for palm oil and fractions saw a significant contraction in physical volume, falling from 2 079 tons to 1 261 tons. The market peaked in 2019 at 2 145 tons before entering a sustained decline, with a particularly sharp drop of 26% occurring in 2023. In value terms, the market displayed a different trajectory, rising from 2.1 million USD in 2018 to a high of 2.8 million USD in 2022, after which it fell back to 2.0 million USD by 2024, indicating considerable price fluctuations over the period.

This volume decline was driven by falling domestic production, which more than halved from 44 tons to 20 tons, and a reduction in imports, which were the primary supply source. Imports fluctuated, reaching a high of 2 108 tons in 2019 before falling to 1 240 tons by 2024. The minimal export activity had little impact on the overall market size.

By 2024, the market landscape was increasingly shaped by a focus on sustainability and changing consumer demands. Key factors included the widespread adoption of RSPO certification, tighter EU environmental policies guiding procurement, and growing consumer preference for trans-fat-free products, which directed demand toward certified sustainable palm oil in food and cosmetic applications.

Production palm oil and fractions in Finland

In value, 2017-2020, K $ US

Finland's palm oil and fractions production declined for the third consecutive year. In 2020, output was valued at 90.2 thousand US dollars, representing a modest 6.8% decrease compared to 2019. Over the 2017-2020 period, production fell by 26.8%, with an average annual decline of 9.9%.

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

In kind, 2017-2020, kg

Top producers of palm oil and fractions, 2017-2020

World map of production of palm oil and fractions, 2017-2020

Palm oil and fractions production in Finland declined for the third consecutive year. In 2020, Finland produced 32,103 kilograms of palm oil and fractions, marking a 12.0% decrease from 2019. Between 2017 and 2020, production dropped by 31.7%, with an average annual decline of 11.9%.

Annual dynamics of production in Finland in kind, 2017-2020, kg

Exports palm oil and fractions from Finland

Exports in kind, t

In 2020, Finland exported 0.1 metric tons of palm oil and fractions, showing a sharp year-over-year increase of 153.3%. Over the 2017-2020 period, exports grew by 204%, with an average annual growth rate of 44.9%.

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

From 2017 to 2020, Uganda and Singapore dominated Finland's palm oil and fractions exports in volume terms, jointly accounting for 97.7% of total flows, while other countries held much smaller shares.

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, K $ US

In 2020, Finland's palm oil and fractions exports were valued at 0.3 thousand US dollars, representing a steep 2,990.1% increase compared to the previous year. Between 2017 and 2020, exports surged by 30,527.4%, with an average annual growth rate of 574.1%.

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

From 2017 to 2020, Uganda played a leading role in Finland's palm oil and fractions exports in value terms, accounting for 88.3% of total flows, with the remainder distributed among other partners.

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

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

Imports palm oil and fractions to Finland

Imports in kind, t

Finland imported approximately 1,916 metric tons of palm oil and fractions in 2020, equivalent to a 9.1% decline compared to 2019. Over the 2017-2020 period, imports decreased by 12.7%, with an average annual decline of 4.4%. The largest increase was recorded in 2019 at 3.6%.

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

From 2017 to 2020, the Netherlands (36.0% of import volume), Germany (34.5% of import volume), and Sweden (23.3% of import volume) consistently remained the main sources for Finland's palm oil and fractions imports in volume terms, together accounting for 93.8% of total flows.

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, K $ US

After a two-year reduction, Finland's palm oil and fractions imports increased in 2020. Imports were valued at 1,934 thousand US dollars, marking an 8.7% rise relative to the prior year. Between 2017 and 2020, imports decreased by 16.1%, equating to an average annual decline of 5.7%. The lowest value was recorded in 2019 at 1,779 thousand US dollars, while the largest decline occurred in 2018 at 12.2%.

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

Throughout 2017-2020, Germany (32.1% of import value), the Netherlands (31.4% of import value), and Sweden (29.4% of import value) formed the core of Finland's palm oil and fractions imports in value terms, together accounting for 93.0% of total flows.

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

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