Portugal: Molluscs Market 2024

Molluscs Market Size in Portugal

In 2021, the Portuguese molluscs market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption recorded a remarkable increase. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Molluscs Production in Portugal

In value terms, molluscs production shrank modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2014 when the production volume increased by 35% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Molluscs Exports

Exports from Portugal

In 2021, overseas shipments of molluscs (scallops, mussels, cuttle fish, squid and octopus) were finally on the rise to reach X tons after two years of decline. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 25%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, molluscs exports soared to $X in 2021. In general, total exports indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Spain (X tons) was the main destination for molluscs exports from Portugal, accounting for a 58% share of total exports. Moreover, molluscs exports to Spain exceeded the volume sent to the second major destination, Italy (X tons), fivefold. The United States (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Spain totaled -4.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+11.4% per year) and the United States (+17.3% per year).

In value terms, Spain ($X) remains the key foreign market for molluscs (scallops, mussels, cuttle fish, squid and octopus) exports from Portugal, comprising 54% of total exports. The second position in the ranking was taken by the United States ($X), with a 16% share of total exports. It was followed by Italy, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Spain totaled -3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+18.0% per year) and Italy (+14.3% per year).

Export Prices by Country

In 2021, the average molluscs export price amounted to $X per ton, growing by 26% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.3%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Spain ($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 Switzerland (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.

Molluscs Imports

Imports into Portugal

In 2021, supplies from abroad of molluscs (scallops, mussels, cuttle fish, squid and octopus) increased by 20% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, molluscs imports soared to $X in 2021. In general, imports continue to indicate a notable expansion. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of molluscs to Portugal, accounting for a 61% share of total imports. Moreover, molluscs imports from Spain exceeded the figures recorded by the second-largest supplier, India (X tons), fivefold. The third position in this ranking was taken by Peru (X tons), with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain totaled +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+1.9% per year) and Peru (+4.7% per year).

In value terms, Spain ($X) constituted the largest supplier of molluscs (scallops, mussels, cuttle fish, squid and octopus) to Portugal, comprising 65% of total imports. The second position in the ranking was held by India ($X), with an 8.5% share of total imports. It was followed by Mauritania, with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain stood at +7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+1.0% per year) and Mauritania (+3.1% per year).

Import Prices by Country

The average molluscs import price stood at $X per ton in 2021, picking up by 13% against the previous year. Over the period under review, import price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, molluscs import price decreased by -1.4% against 2018 indices. The growth pace was the most rapid in 2017 an increase of 16% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Mauritania ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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