Portugal: Market for Flours, Meals And Pellets Of Meat Or Meat Offal 2024

Market Size for Flours, Meals And Pellets Of Meat Or Meat Offal in Portugal

In 2021, the Portuguese meat meals and pellets market increased by 12% to $X, rising for the second year in a row after three years of decline. Over the period under review, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +8.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +11.7% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Production of Flours, Meals And Pellets Of Meat Or Meat Offal in Portugal

In value terms, meat meals and pellets production fell to $X in 2021 estimated in export price. In general, production, however, showed a prominent increase. The pace of growth was the most pronounced in 2014 with an increase of 142% against the previous year. Meat meals and pellets production peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Exports of Flours, Meals And Pellets Of Meat Or Meat Offal

Exports from Portugal

In 2021, shipments abroad of flours, meals and pellets of meat or meat offal decreased by -19.4% to X tons, falling for the second consecutive year after two years of growth. Overall, exports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2019 when exports increased by 69%. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, meat meals and pellets exports reduced to $X in 2021. In general, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 119%. The exports peaked at $X in 2020, and then dropped in the following year.

Exports by Country

Spain (X tons) was the main destination for meat meals and pellets exports from Portugal, accounting for a 45% share of total exports. Moreover, meat meals and pellets exports to Spain exceeded the volume sent to the second major destination, France (X tons), fourfold. Bulgaria (X tons) ranked third in terms of total exports with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Spain stood at +7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+39.9% per year) and Bulgaria (+20.5% per year).

In value terms, Spain ($X) remains the key foreign market for flours, meals and pellets of meat or meat offal exports from Portugal, comprising 47% of total exports. The second position in the ranking was held by France ($X), with a 15% share of total exports. It was followed by Germany, with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Spain amounted to +16.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+41.5% per year) and Germany (+155.2% per year).

Export Prices by Country

In 2021, the average meat meals and pellets export price amounted to $X per ton, growing by 18% against the previous year. Overall, the export price showed a buoyant increase. The most prominent rate of growth was recorded in 2019 an increase of 29%. The export price peaked in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Cambodia ($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 Indonesia (+24.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flours, Meals And Pellets Of Meat Or Meat Offal

Imports into Portugal

In 2021, approx. X tons of flours, meals and pellets of meat or meat offal were imported into Portugal; with an increase of 21% against the year before. Over the period under review, imports recorded significant growth. The growth pace was the most rapid in 2018 when imports increased by 225%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, meat meals and pellets imports soared to $X in 2021. In general, imports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 352% against the previous year. Over the period under review, imports reached the peak figure 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 supplier of meat meals and pellets to Portugal, with a approx. 99% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Spain stood at +34.7%.

In value terms, Spain ($X) constituted the largest supplier of flours, meals and pellets of meat or meat offal to Portugal.

From 2012 to 2021, the average annual growth rate of value from Spain totaled +37.0%.

Import Prices by Country

In 2021, the average meat meals and pellets import price amounted to $X per ton, jumping by 43% against the previous year. Overall, import price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, meat meals and pellets import price increased by +56.1% against 2019 indices. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Spain.

From 2012 to 2021, the rate of growth in terms of prices for France amounted to +8.4% per year.

Source: IndexBox Platform

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