Portugal: Market for Flours, Meals And Pellets Of Fish 2024

Market Size for Flours, Meals And Pellets Of Fish in Portugal

In 2021, the Portuguese fish meals and pellet market decreased by -24.1% to $X for the first time since 2014, thus ending a six-year rising trend. Over the period under review, consumption, however, posted strong growth. Fish meals and pellet consumption peaked at $X in 2020, and then declined remarkably in the following year.

Production of Flours, Meals And Pellets Of Fish in Portugal

In value terms, fish meals and pellet production reduced slightly to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the production volume increased by 7.5% against the previous year. As a result, production reached the peak level of $X, and then declined modestly in the following year.

Exports of Flours, Meals And Pellets Of Fish

Exports from Portugal

In 2021, shipments abroad of flours, meals and pellets of fish decreased by -66.3% to X kg, falling for the sixth year in a row after four years of growth. Over the period under review, exports showed a dramatic downturn. The pace of growth appeared the most rapid in 2014 with an increase of 150%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, fish meals and pellet exports contracted notably to $X in 2021. Overall, exports saw a abrupt decrease. The most prominent rate of growth was recorded in 2015 with an increase of 33% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

France (X kg), the Netherlands (X kg) and the UK (X kg) were the main destinations of fish meals and pellet exports from Portugal, with a combined 71% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +8.8%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for fish meals and pellet exported from Portugal were Norway ($X), the UK ($X) and France ($X), with a combined 74% share of total exports. These countries were followed by Luxembourg and the Netherlands, which together accounted for a further 25%.

The Netherlands, with a CAGR of +32.6%, recorded the highest rates of growth with regard to the value of exports, in terms of 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 fish meals and pellet export price amounted to $X per ton, increasing by 58% against the previous year. Over the period under review, the export price saw prominent growth. The pace of growth appeared the most rapid in 2020 when the average export price increased by 110%. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Norway ($X per ton), while the average price for exports to France ($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 Norway (+68.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flours, Meals And Pellets Of Fish

Imports into Portugal

In 2021, after three years of growth, there was significant decline in supplies from abroad of flours, meals and pellets of fish, when their volume decreased by -44.9% to X tons. In general, imports, however, saw a significant expansion. The pace of growth was the most pronounced in 2015 with an increase of 287%. Over the period under review, imports hit record highs at X tons in 2020, and then dropped markedly in the following year.

In value terms, fish meals and pellet imports fell markedly to $X in 2021. Over the period under review, imports, however, saw a significant expansion. The pace of growth was the most pronounced in 2015 when imports increased by 254% against the previous year. Over the period under review, imports reached the maximum at $X in 2020, and then reduced remarkably in the following year.

Imports by Country

In 2021, Sweden (X tons) constituted the largest supplier of fish meals and pellet to Portugal, accounting for a 75% share of total imports. Moreover, fish meals and pellet imports from Sweden exceeded the figures recorded by the second-largest supplier, Spain (X tons), eightfold. The third position in this ranking was taken by the Netherlands (X tons), with an 8.4% share.

From 2012 to 2021, the average annual growth rate of volume from Sweden amounted to -4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+15.5% per year) and the Netherlands (+132.7% per year).

In value terms, Sweden ($X) constituted the largest supplier of flours, meals and pellets of fish to Portugal, comprising 61% of total imports. The second position in the ranking was held by Spain ($X), with a 24% share of total imports. It was followed by the Netherlands, with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Sweden stood at +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+16.7% per year) and the Netherlands (+119.0% per year).

Import Prices by Country

The average fish meals and pellet import price stood at $X per ton in 2021, approximately reflecting the previous year. In general, the import price showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 an increase of 38%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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