Portugal: Cheese And Curd Market 2024

Cheese And Curd Market Size in Portugal

In 2022, the Portuguese cheese and curd market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. In general, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Cheese And Curd Production in Portugal

In value terms, cheese and curd production surged to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.0% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Cheese And Curd Exports

Exports from Portugal

In 2022, overseas shipments of cheese and curd increased by 26% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +1.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, cheese and curd exports skyrocketed to $X in 2022. Over the period under review, total exports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +79.8% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Spain (X tons) was the main destination for cheese and curd exports from Portugal, with a 44% share of total exports. Moreover, cheese and curd exports to Spain exceeded the volume sent to the second major destination, Angola (X tons), threefold. The third position in this ranking was taken by Cabo Verde (X tons), with a 5.8% share.

From 2012 to 2022, the average annual growth rate of volume to Spain totaled +6.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (-5.7% per year) and Cabo Verde (+17.1% per year).

In value terms, Spain ($X) remains the key foreign market for cheese and curd exports from Portugal, comprising 36% of total exports. The second position in the ranking was taken by Angola ($X), with a 15% share of total exports. It was followed by France, with a 7% share.

From 2012 to 2022, the average annual growth rate of value to Spain totaled +12.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (-4.9% per year) and France (+3.2% per year).

Export Prices by Country

In 2022, the average cheese and curd export price amounted to $X per ton, picking up by 11% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2014 when the average export price increased by 12% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+4.8%), while the prices for the other major destinations experienced more modest paces of growth.

Cheese And Curd Imports

Imports into Portugal

In 2022, supplies from abroad of cheese and curd increased by 9.4% to X tons, rising for the second year in a row after two years of decline. In general, total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +22.2% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 19%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, cheese and curd imports soared to $X in 2022. Overall, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +48.8% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 23%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, Spain (X tons) constituted the largest cheese and curd supplier to Portugal, with a 39% share of total imports. Moreover, cheese and curd imports from Spain exceeded the figures recorded by the second-largest supplier, France (X tons), twofold. The third position in this ranking was taken by Germany (X tons), with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain amounted to +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+5.9% per year) and Germany (+1.9% per year).

In value terms, Spain ($X) constituted the largest supplier of cheese and curd to Portugal, comprising 37% of total imports. The second position in the ranking was held by France ($X), with a 15% share of total imports. It was followed by Germany, with a 15% share.

From 2012 to 2022, the average annual growth rate of value from Spain totaled +7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+6.4% per year) and Germany (+4.2% per year).

Import Prices by Country

In 2022, the average cheese and curd import price amounted to $X per ton, picking up by 13% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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