The production of vegetable oils in Finland has experienced fluctuations over the past decade. In recent years, the output has shown a declining trend. By 2023, production stood at 64.0 thousand metric tons, reflecting a year-on-year decrease of 4.48%. Looking at the five-year period leading up to 2023, the compound annual growth rate (CAGR) is -3.38%, indicating a consistent downward trajectory. Notable fluctuations include a significant drop in 2015 by 22.52%, a recovery in 2016 with a 34.88% increase, and subsequent declines in following years. The period between 2019 and 2023 saw mixed trends with minor fluctuations, culminating in a noticeable overall reduction.
Future forecasts point to a continuing decline, with a projected CAGR of -3.89% from 2024 to 2028, translating to an overall decrease of 18.01% over these years. By 2028, production is expected to fall to 50.11 thousand metric tons.
Trends to watch for in the future include potential shifts in agricultural policies, changes in consumer preferences towards healthier alternatives, advancements in production technologies, and the impact of global market dynamics on local production. Monitoring these factors will be essential for understanding and potentially mitigating the downward trend in vegetable oil production in Finland.
