Portugal: Preserved Turkey Market 2024

Preserved Turkey Market Size in Portugal

The Portuguese preserved turkey market contracted dramatically to $X in 2021, with a decrease of -16.4% against the previous year. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Preserved Turkey Production in Portugal

In value terms, preserved turkey production contracted to $X in 2021 estimated in export price. Over the period under review, the total production indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -30.4% against 2016 indices. The most prominent rate of growth was recorded in 2015 with an increase of 22%. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Preserved Turkey Exports

Exports from Portugal

In 2021, overseas shipments of prepared or preserved meat or offal of turkeys decreased by -13.2% to X tons, falling for the fifth consecutive year after three years of growth. In general, exports, however, enjoyed a strong increase. The pace of growth was the most pronounced in 2015 when exports increased by 1,010% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, preserved turkey exports dropped to $X in 2021. Over the period under review, exports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2015 when exports increased by 831% against the previous year. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Spain (X tons), Belgium (X tons) and Mozambique (X tons) were the main destinations of preserved turkey exports from Portugal, with a combined 81% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +65.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for preserved turkey exported from Portugal were Spain ($X), Belgium ($X) and Mozambique ($X), together accounting for 78% of total exports.

Belgium, with a CAGR of +66.2%, recorded the highest growth rate of the value of exports, among 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 preserved turkey export price stood at $X per ton in 2021, flattening at the previous year. Overall, the export price showed a noticeable downturn. The most prominent rate of growth was recorded in 2018 an increase of 13%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Luxembourg ($X per ton), while the average price for exports to Angola ($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 Luxembourg (+2.9%), while the prices for the other major destinations experienced mixed trend patterns.

Preserved Turkey Imports

Imports into Portugal

In 2021, after two years of growth, there was significant decline in overseas purchases of prepared or preserved meat or offal of turkeys, when their volume decreased by -40.3% to X tons. In general, imports continue to indicate a abrupt contraction. The growth pace was the most rapid in 2016 with an increase of 60% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, preserved turkey imports fell dramatically to $X in 2021. Over the period under review, imports continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2016 when imports increased by 85% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of preserved turkey to Portugal, with a 72% share of total imports. Moreover, preserved turkey imports from Spain exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), sevenfold. Germany (X tons) ranked third in terms of total imports with an 8.3% share.

From 2012 to 2021, the average annual growth rate of volume from Spain stood at -3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+1.4% per year) and Germany (+10.2% per year).

In value terms, Spain ($X) constituted the largest supplier of prepared or preserved meat or offal of turkeys to Portugal, comprising 75% of total imports. The second position in the ranking was taken by Germany ($X), with a 10% share of total imports. It was followed by the Netherlands, with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+9.4% per year) and the Netherlands (-3.6% per year).

Import Prices by Country

The average preserved turkey import price stood at $X per ton in 2021, picking up by 12% against the previous year. Over the last nine years, it increased at an average annual rate of +2.6%. The pace of growth appeared the most rapid in 2018 when the average import price increased by 16%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+3.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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