The state of affairs in food sector has stabilized in Finland, and the outlook is slightly brighter compared to previous years.
Food industry production turned to modest growth in the first half of 2024, and for some companies, the cost burden has also eased.
However, revenue growth has been hindered by consumer demand still focusing on more affordable options, such as private label brands and imported food products, as well as a moderate decline in food prices.
Investments in growth are still yet to materialize.
Both food exports and imports increased during January-June 2024. Finnish food companies are facing increased competition, as imports have risen to record levels in recent years, reaching approximately six billion euros.
In the first half of 2024, the growth in exports was largely driven by raw materials, such as grain exports. Meanwhile, the growth in imports has been in more highly processed food products.
Oat export superpower
Harvesting began exceptionally early in Finland this year. According to estimates, domestic production is expected to largely meet the needs of the food industry, and, for example, there will be enough oats for export.
Finland is one of the largest oat producers and exporters in the world. Among European countries, only Poland grows more oats than Finland. During the 2024/2025 marketing season, it is estimated that up to 40 percent of domestic oats were exported.
The majority of oats are exported as whole grains, but the goal is to increase the export of more processed oat products
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