Portugal: Fig Market 2024

Fig Market Size in Portugal

In 2022, after three years of decline, there was significant growth in the Portuguese fig market, when its value increased by 7.1% to $X. The market value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Fig consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Fig Production in Portugal

In value terms, fig production expanded remarkably to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 19% against the previous year. Fig production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of figs in Portugal expanded notably to X tons per ha, growing by 6.9% against the previous year. Over the period under review, the yield indicated prominent growth from 2012 to 2022: its figure increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fig yield decreased by -6.0% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 32%. As a result, the yield reached the peak level of X tons per ha. From 2021 to 2022, the growth of the average fig yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of figs in Portugal shrank slightly to X ha, approximately reflecting 2021. In general, the harvested area saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the harvested area increased by 1.7%. As a result, the harvested area reached the peak level of X ha. From 2015 to 2022, the growth of the fig harvested area remained at a somewhat lower figure.

Fig Exports

Exports from Portugal

In 2022, overseas shipments of figs decreased by -35.3% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports saw a deep slump. The most prominent rate of growth was recorded in 2020 when exports increased by 34% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, fig exports reduced remarkably to $X in 2022. Over the period under review, exports showed a abrupt shrinkage. The growth pace was the most rapid in 2016 when exports increased by 30%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Austria (X tons), Italy (X tons) and the United States (X tons) were the main destinations of fig exports from Portugal, together accounting for 50% of total exports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +61.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), France ($X) and Italy ($X) constituted the largest markets for fig exported from Portugal worldwide, with a combined 42% share of total exports.

In terms of the main countries of destination, Italy, with a CAGR of +50.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average fig export price stood at $X per ton in 2022, jumping by 28% against the previous year. Over the period under review, the export price, however, saw a mild contraction. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Angola ($X per ton), while the average price for exports to Austria ($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 France (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.

Fig Imports

Imports into Portugal

In 2022, the amount of figs imported into Portugal fell to X tons, with a decrease of -8.9% on 2021 figures. The total import volume increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 64% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, fig imports shrank to $X in 2022. The total import value increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 48%. Over the period under review, imports reached the peak figure at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of fig to Portugal, accounting for a 77% share of total imports. Moreover, fig imports from Spain exceeded the figures recorded by the second-largest supplier, Turkey (X tons), fivefold. The third position in this ranking was taken by the Netherlands (X tons), with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain stood at +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+4.4% per year) and the Netherlands (+31.5% per year).

In value terms, Spain ($X) constituted the largest supplier of figs to Portugal, comprising 70% of total imports. The second position in the ranking was held by Turkey ($X), with a 20% share of total imports. It was followed by the Netherlands, with a 3.6% share.

From 2012 to 2022, the average annual growth rate of value from Spain amounted to +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+3.3% per year) and the Netherlands (+29.1% per year).

Import Prices by Country

The average fig import price stood at $X per ton in 2022, falling by -6.2% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average import price increased by 24% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then dropped in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+1.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :