Sunflower, safflower or cottonseed oil and fractions market in Finland

Earlier Report Observations

The Finnish market for sunflower, safflower, and cottonseed oil grew from 5,159 t in 2018 to 9,012 t in 2023, driven primarily by national policies promoting biofuels. Initial growth was supported by the 2018 coal ban bill, which aimed to phase out coal by 2029 and encouraged the use of biofuels in heating and machinery, alongside the National Energy and Climate Strategy's 2019 reassessment to increase biofuel use.

The market volume surged by 26.6% in 2022 and 32.1% in 2023, following the 2021 implementation of the Act on the Promotion of the Use of Biofuel Oil. This legislation obligated the replacement of part of light fuel oil with biofuel oil, significantly increasing demand for vegetable oils. The sharp rise in imports, which reached 5,224 t in 2023, compensated for a declining domestic production trend influenced by updated plant protection product authorizations and ongoing revisions to national energy and climate targets.

Production sunflower, safflower or cottonseed oil and fractions in Finland

In kind, 2017-2020, t

Top producers of sunflower, safflower or cottonseed oil and fractions, 2017-2020

World map of production of sunflower, safflower or cottonseed oil and fractions, 2017-2020

In 2020, Finland produced 4 700 tonnes of sunflower, safflower, or cottonseed oil and fractions, representing a 6.0% decrease from the previous year. Over the 2017-2020 period, production grew by 6.8%, with an average annual growth rate of 2.2%. The lowest production level was recorded in 2018 at 4 300 tonnes, while the highest was in 2019 at 5 000 tonnes. The most significant increase occurred in 2019, with a 16.3% rise.

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

Exports sunflower, safflower or cottonseed oil and fractions from Finland

Exports in kind, t

Market performance showed notable fluctuations during this period. The minimum export volume was recorded in 2019 at 1 tonne, while the maximum was in 2020 at 15 tonnes, representing a 13.1-fold difference between these years. In 2020, Finland exported 15 tonnes of sunflower, safflower, or cottonseed oil and fractions, marking a substantial increase of 1 213.5% compared to the previous year. The largest decline was observed in 2019, with a 91.7% drop.

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

From 2017 to 2020, Estonia was the leading destination for exports in kind, accounting for 86.1% of total flows, while other markets collectively made up the remainder.

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

After two consecutive years of growth, Finland's exports of sunflower, safflower, or cottonseed oil and fractions declined in 2020. Exports totaled 30 thousand US dollars that year, reflecting a solid year-over-year decrease of 11.7%. Between 2017 and 2020, exports increased by 62.8%, equivalent to an annualized growth rate of 17.6%. The highest value was recorded in 2019 at 34 thousand US dollars, with the largest increase occurring in 2018 at 69.5%.

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

During the 2017-2020 period, Estonia was the principal market for Finland's exports of sunflower, safflower, or cottonseed oil and fractions in value terms, representing 70.5% of total exports, while other destinations contributed a smaller share.

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

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

Imports sunflower, safflower or cottonseed oil and fractions to Finland

Imports in kind, t

The data indicates irregular changes, suggesting a volatile market environment. The minimum import volume was recorded in 2019 at 486 tonnes, while the maximum was in 2020 at 1 161 tonnes, showing a 2.4-fold variation between these years. In 2020, Finland imported 1 161 tonnes of sunflower, safflower, or cottonseed oil and fractions, equivalent to a 138.9% increase compared to the previous year. The largest decline was in 2019, with a 44.3% decrease.

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

From 2017 to 2020, Germany (with 38.3% of imports in kind), Belgium (19.9%), and Poland (17.7%) were the top suppliers of sunflower, safflower, or cottonseed oil and fractions to Finland. Together, these three countries accounted for 75.9% of total imports in kind.

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

In 2020, Finland's imports of sunflower, safflower, or cottonseed oil and fractions amounted to 1 514 thousand US dollars, marking a 51.1% year-over-year increase. Over the 2017-2020 period, imports grew by 72.6%, with an average annual growth rate of 19.9%. The largest decline was recorded in 2019, with a 16.8% drop.

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

From 2017 to 2020, Germany (34.5% of imports in value terms), Belgium (16.2%), and Poland (14.9%) were the largest suppliers of sunflower, safflower, or cottonseed oil and fractions to Finland. Combined, these three countries represented 65.6% of total imports in value terms.

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

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