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

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

After two years of growth, the Portuguese seafood meals and pellets market decreased by -49.8% to $X in 2021. In general, consumption saw a deep setback. Seafood meals and pellets consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Production of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Portugal

In value terms, seafood meals and pellets production shrank to $X in 2021 estimated in export price. Over the period under review, the total production indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +8.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +32.7% against 2019 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by 58% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Exports from Portugal

In 2021, shipments abroad of flours, meals and pellets of fish or of crustaceans and molluscs increased by 8.1% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports continue to indicate a strong expansion. The growth pace was the most rapid in 2013 when exports increased by 107% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, seafood meals and pellets exports dropped modestly to $X in 2021. Over the period under review, exports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2013 with an increase of 140%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X tons) was the main destination for seafood meals and pellets exports from Portugal, accounting for a 61% share of total exports. Moreover, seafood meals and pellets exports to Spain exceeded the volume sent to the second major destination, Italy (X tons), threefold. Poland (X tons) ranked third in terms of total exports with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Spain stood at +16.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+2.2% per year) and Poland (-4.1% per year).

In value terms, the largest markets for seafood meals and pellets exported from Portugal were Spain ($X), Italy ($X) and Germany ($X), together accounting for 90% of total exports.

Germany, with a CAGR of +177.0%, recorded the highest growth rate of 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

The average seafood meals and pellets export price stood at $X per ton in 2021, falling by -9.7% against the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 16% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per ton), while the average price for exports to Spain ($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 Turkey (+3.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Imports into Portugal

In 2021, supplies from abroad of flours, meals and pellets of fish or of crustaceans and molluscs decreased by -28.6% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports continue to indicate a abrupt slump. The growth pace was the most rapid in 2018 with an increase of 120%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, seafood meals and pellets imports shrank rapidly to $X in 2021. Overall, imports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2018 when imports increased by 112%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Spain (X tons) was the main seafood meals and pellets supplier to Portugal, accounting for a 94% share of total imports. Moreover, seafood meals and pellets imports from Spain exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from Spain totaled -9.2%.

In value terms, Spain ($X) constituted the largest supplier of flours, meals and pellets of fish or of crustaceans and molluscs to Portugal, comprising 93% of total imports. The second position in the ranking was held by Germany ($X), with a 6.1% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain amounted to -5.6%.

Import Prices by Country

The average seafood meals and pellets import price stood at $X per ton in 2021, picking up by 6.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.9%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 18% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is likely to continue growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Spain amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+4.0%).

Source: IndexBox Platform

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