Portugal: Margarine And Shortening Market 2024

Margarine And Shortening Market Size in Portugal

The Portuguese margarine and shortening market soared to $X in 2022, surging by 26% against the previous year. Over the period under review, consumption, however, saw a perceptible slump. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Margarine And Shortening Production in Portugal

In value terms, margarine and shortening production dropped to $X in 2022 estimated in export price. Overall, production recorded a deep setback. The growth pace was the most rapid in 2021 with an increase of 6.6% against the previous year. Margarine and shortening production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Margarine And Shortening Exports

Exports from Portugal

In 2022, overseas shipments of margarine and shortening increased by 9.2% to X tons, rising for the second consecutive year after two years of decline. In general, exports posted a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of 96%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, margarine and shortening exports skyrocketed to $X in 2022. Over the period under review, exports recorded a resilient expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 113% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Spain (X tons) was the main destination for margarine and shortening exports from Portugal, with a 49% share of total exports. Moreover, margarine and shortening exports to Spain exceeded the volume sent to the second major destination, France (X tons), threefold. Angola (X tons) ranked third in terms of total exports with an 8.1% share.

From 2012 to 2022, the average annual growth rate of volume to Spain amounted to +15.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+46.5% per year) and Angola (+5.2% per year).

In value terms, Spain ($X) remains the key foreign market for margarine and shortening exports from Portugal, comprising 49% of total exports. The second position in the ranking was taken by France ($X), with a 16% share of total exports. It was followed by Angola, with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Spain stood at +19.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+50.1% per year) and Angola (+4.1% per year).

Export Prices by Country

The average margarine and shortening export price stood at $X per ton in 2022, rising by 37% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to the UK ($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 (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.

Margarine And Shortening Imports

Imports into Portugal

In 2022, after two years of decline, there was significant growth in purchases abroad of margarine and shortening, when their volume increased by 23% to X tons. Over the period under review, imports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2019 when imports increased by 27% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, margarine and shortening imports skyrocketed to $X in 2022. Overall, imports showed a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Spain (X tons) constituted the largest margarine and shortening supplier to Portugal, accounting for a 64% share of total imports. Moreover, margarine and shortening imports from Spain exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fourfold. Germany (X tons) ranked third in terms of total imports with a 7.7% share.

From 2012 to 2022, the average annual growth rate of volume from Spain stood at +11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+20.0% per year) and Germany (+1.2% per year).

In value terms, Spain ($X) constituted the largest supplier of margarine and shortening to Portugal, comprising 60% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 19% share of total imports. It was followed by Germany, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain stood at +13.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+18.1% per year) and Germany (+1.6% per year).

Import Prices by Country

The average margarine and shortening import price stood at $X per ton in 2022, increasing by 17% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 25% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the Netherlands ($X per ton) and Germany ($X per ton), while the price for Belgium ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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