Successful Euro conversion in Finland
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- 17 January 2002
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Finnish consumers have taken to the Euro in droves. The official conversion on January 1 proceeded smoothly, largely owing to the fact that, for the past year, the new European currency has appeared alongside the Finnish mark.
”We realised that there was a risk that consumption would fall until people had become used to the Euro” said Satu Raiski, Executive Director, Arla Foods Finland. ”However, so far there have been no signs of this.
Switching from the Finnish mark to the Euro, however, can force shops to round up totals to the nearest whole figure. This has been a particular issue in Finland where the Finnish Government decided against introducing one and two cent coins. In Satu Raiski’s view, however, this has had no adverse impact on Arla Foods.
”Sometimes we round down and at other times up. Retailers expect that in the end it all evens out. In addition, when we adjusted our prices last year, we allowed for the smoothest possible conversion to the Euro.”
Arla Foods is the largest importer of cheese to the Finnish market. Besides yellow cheese and speciality cheese, Arla Foods supplies the Finnish market with baby food and gluten-free products.
Annual turnover in the Finnish market totals approx. DKK 400 million.
Arla Foods is an international dairy company owned by 9,700 farmers from Denmark, Sweden, the UK, Germany, Belgium, Luxembourg and the Netherlands. Arla Foods is one of the leading players in the international dairy arena with well-known brands like Arla®, Lurpak®, Puck® and Castello®. Arla Foods is focused on providing good dairy nourishment from sustainable farming and operations and is also the world's largest manufacturer of organic dairy products.