Report Update Nov 1, 2024

Portugal - Palm Oil - Market Analysis, Forecast, Size, Trends and Insights

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Portugal: Palm Oil Market 2024

Palm Oil Market Size in Portugal

The Portuguese palm oil market dropped remarkably to $X in 2022, waning by -26.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a abrupt setback. Palm oil consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Palm Oil Exports

Exports from Portugal

In 2022, overseas shipments of palm oil increased by 36% to X tons, rising for the second year in a row after three years of decline. Overall, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 143% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, palm oil exports soared to $X in 2022. Over the period under review, exports recorded a prominent increase. The pace of growth appeared the most rapid in 2021 with an increase of 172%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Spain (X tons) was the main destination for palm oil exports from Portugal, accounting for a 92% share of total exports. Moreover, palm oil exports to Spain exceeded the volume sent to the second major destination, Cabo Verde (X tons), more than tenfold. The third position in this ranking was taken by Mozambique (X tons), with a 2.2% share.

From 2012 to 2022, the average annual growth rate of volume to Spain stood at +23.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cabo Verde (-8.8% per year) and Mozambique (-0.5% per year).

In value terms, Spain ($X) remains the key foreign market for palm oil exports from Portugal, comprising 91% of total exports. The second position in the ranking was taken by Cabo Verde ($X), with a 4.1% share of total exports. It was followed by Mozambique, with a 2.5% share.

From 2012 to 2022, the average annual growth rate of value to Spain stood at +31.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cabo Verde (-5.1% per year) and Mozambique (+5.3% per year).

Export Prices by Country

In 2022, the average palm oil export price amounted to $X per ton, with an increase of 5.2% against the previous year. Overall, the export price saw a notable expansion. The most prominent rate of growth was recorded in 2019 an increase of 83% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Angola ($X per ton), while the average price for exports to Spain ($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 Angola (+10.0%), while the prices for the other major destinations experienced more modest paces of growth.

Palm Oil Imports

Imports into Portugal

In 2022, the amount of palm oil imported into Portugal fell dramatically to X tons, waning by -45% against 2021 figures. In general, imports recorded a deep reduction. The pace of growth appeared the most rapid in 2019 when imports increased by 73% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, palm oil imports declined to $X in 2022. Over the period under review, imports recorded a abrupt contraction. The pace of growth was the most pronounced in 2019 when imports increased by 53% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Spain (X tons), the Netherlands (X tons) and Sierra Leone (X tons) were the main suppliers of palm oil imports to Portugal, together comprising 71% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sierra Leone (with a CAGR of +79.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) constituted the largest supplier of palm oil to Portugal, comprising 40% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 17% share of total imports. It was followed by Sierra Leone, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain amounted to -1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-20.8% per year) and Sierra Leone (+93.7% per year).

Import Prices by Country

The average palm oil import price stood at $X per ton in 2022, with an increase of 55% against the previous year. In general, the import price posted a moderate increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sao Tome and Principe (+42.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for palm oil in the world?

Indonesia constituted the country with the largest volume of palm oil consumption, comprising approx. 25% of total volume. Moreover, palm oil consumption in Indonesia exceeded the figures recorded by the second-largest consumer, India, threefold. Malaysia ranked third in terms of total consumption with an 8.2% share.

What are the largest producers of palm oil in the world?

Indonesia remains the largest palm oil producing country worldwide, accounting for 56% of total volume. Moreover, palm oil production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia, twofold. The third position in this ranking was occupied by Thailand, with a 4% share.

What are the leading suppliers of palm oil to Portugal?

In value terms, Spain constituted the largest supplier of palm oil to Portugal, comprising 73% of total imports. The second position in the ranking was occupied by the Philippines, with a 12% share of total imports. It was followed by Ecuador, with a 5.3% share.

What are the leading importers of palm oil from Portugal?

In value terms, Angola, Spain and Guinea-Bissau constituted the largest markets for palm oil exported from Portugal worldwide, with a combined 88% share of total exports.

What is the average export price for palm oil in Portugal?

In 2020, the average palm oil export price amounted to $1,558 per ton, approximately reflecting the previous year.

What is the average import price for palm oil in Portugal?

The average palm oil import price stood at $843 per ton in 2020, jumping by 17% against the previous year.

This report provides an in-depth analysis of the palm oil market in Portugal. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 257 - Oil of palm

Country coverage:

Portugal

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Portugal
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
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How to increase your profit margins
How to make your supply chain more sustainable
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While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023