Portugal: Preserved Beef Market 2024

Preserved Beef Market Size in Portugal

The Portuguese preserved beef market fell significantly to $X in 2021, waning by -18.1% against the previous year. Over the period under review, consumption continues to indicate a mild contraction. As a result, consumption attained the peak level of $X, and then shrank notably in the following year.

Preserved Beef Production in Portugal

In value terms, preserved beef production reduced sharply to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 54%. As a result, production reached the peak level of $X, and then shrank markedly in the following year.

Preserved Beef Exports

Exports from Portugal

Preserved beef exports from Portugal surged to X tons in 2021, rising by 109% compared with the year before. In general, exports recorded a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of 1,136% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, preserved beef exports soared to $X in 2021. Over the period under review, exports enjoyed a significant increase. The growth pace was the most rapid in 2018 when exports increased by 1,036%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

France (X tons) was the main destination for preserved beef exports from Portugal, accounting for a 60% share of total exports. Moreover, preserved beef exports to France exceeded the volume sent to the second major destination, Luxembourg (X tons), twofold. Spain (X tons) ranked third in terms of total exports with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to France stood at +67.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Luxembourg (+179.0% per year) and Spain (+159.3% per year).

In value terms, France ($X), Luxembourg ($X) and Spain ($X) were the largest markets for preserved beef exported from Portugal worldwide, with a combined 93% share of total exports.

Luxembourg, with a CAGR of +203.1%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average preserved beef export price amounted to $X per ton, growing by 35% against the previous year. Overall, the export price recorded a strong expansion. The pace of growth was the most pronounced in 2018 an increase of 115%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Luxembourg ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+40.9%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Beef Imports

Imports into Portugal

Preserved beef imports into Portugal skyrocketed to X tons in 2021, picking up by 96% on the year before. In general, imports enjoyed strong growth. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, preserved beef imports surged to $X in 2021. Overall, imports recorded a prominent increase. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of preserved beef to Portugal, accounting for a 87% share of total imports. Moreover, preserved beef imports from Spain exceeded the figures recorded by the second-largest supplier, Italy (X tons), eightfold. The third position in this ranking was taken by Belgium (X tons), with a 2.4% share.

From 2012 to 2021, the average annual growth rate of volume from Spain amounted to +19.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+19.1% per year) and Belgium (-8.9% per year).

In value terms, Spain ($X) constituted the largest supplier of beef and veal (salted, in brine, dried or smoked) to Portugal, comprising 75% of total imports. The second position in the ranking was taken by Italy ($X), with a 22% share of total imports. It was followed by Belgium, with a 3.1% share.

From 2012 to 2021, the average annual growth rate of value from Spain amounted to +19.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+16.9% per year) and Belgium (-8.6% per year).

Import Prices by Country

The average preserved beef import price stood at $X per ton in 2021, growing by 5% against the previous year. Over the period under review, the import price, however, recorded a pronounced descent. The most prominent rate of growth was recorded in 2020 an increase of 34% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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