03.10.2019
Pellervo Economic Research PTT estimates that food prices will rise 1.1 % during 2019 and 1.4 % in 2020 in Finland. Especially meat product prices are expected to grow up to 4 % during 2019. According to PTT, consumption of almost all dairy product categories will decline during 2019. At the same time vegetable prices have been declining during this year as growth conditions have normalized after a demanding last year.
The way Finnish people eat is changing substantially. Meat consumption has been rising for decades in Finland, but now it looks like it is halting. Pork meat consumption has declined for a long time but this year also beef consumption will fall. The growth of meat consumption during the 21st century has been mostly due to Finns eating more poultry, but according to PTT that growth is also ending.
Meat is eaten less because Finns are eating more vegetables, berries and fruits, and there has been a surge of plant based meat alternatives to grocery store shelves in the last few years. Health and environmental consciousness have been the driving factors in changing eating habits. Vegetable consumption has been on the rise for several years, so PTT researchers do not see this is a short term boom but a long term trend. Dairy products are been replaced by plant based alternatives such as oat drinks, creams and yoghurts.
Finnish food industry’s growth is very much export driven. Export demand of especially dairy products and pork meat has been on the rise. This demand can also affect domestic price developments. (Source: Yle, 24.9.2019)