Portugal: Salt Market 2024

Salt Market Size in Portugal

The Portuguese salt market rose to $X in 2022, growing by 3.5% against the previous year. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in the near future.

Salt Production in Portugal

In value terms, salt production reduced modestly to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the production volume increased by 25% against the previous year. Salt production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Salt Exports

Exports from Portugal

In 2022, approx. X tons of salt and pure sodium chloride were exported from Portugal; surging by 12% on 2021 figures. Overall, exports, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2020 when exports increased by 22% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, salt exports amounted to $X in 2022. In general, exports, however, recorded a noticeable descent. The most prominent rate of growth was recorded in 2020 with an increase of 38% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Spain (X tons), Germany (X tons) and France (X tons) were the main destinations of salt exports from Portugal, together accounting for 58% of total exports. The United States, Sao Tome and Principe, the Czech Republic, the UK, the Netherlands and Angola lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +51.4%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for salt exported from Portugal were Spain ($X), Germany ($X) and France ($X), with a combined 51% share of total exports. Angola, the United States, the UK, the Czech Republic, Sao Tome and Principe and the Netherlands lagged somewhat behind, together accounting for a further 34%.

The Czech Republic, with a CAGR of +39.6%, recorded the highest rates of growth with regard to 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

In 2022, the average salt export price amounted to $X per ton, with a decrease of -8.8% against the previous year. In general, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the average export price increased by 31%. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then declined in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Angola ($X per ton), while the average price for exports to Sao Tome and Principe ($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 (+12.9%), while the prices for the other major destinations experienced more modest paces of growth.

Salt Imports

Imports into Portugal

In 2022, supplies from abroad of salt and pure sodium chloride increased by 14% to X tons, rising for the second year in a row after two years of decline. In general, total imports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +23.8% against 2020 indices. The pace of growth was the most pronounced in 2014 when imports increased by 64%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, salt imports surged to $X in 2022. Overall, imports posted a buoyant increase. The pace of growth was the most pronounced in 2014 when imports increased by 67%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of salt to Portugal, with a 53% share of total imports. Moreover, salt imports from Spain exceeded the figures recorded by the second-largest supplier, Tunisia (X tons), twofold. The third position in this ranking was held by the UK (X tons), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain stood at +10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Tunisia (+39.6% per year) and the UK (-2.5% per year).

In value terms, Spain ($X) constituted the largest supplier of salt and pure sodium chloride to Portugal, comprising 50% of total imports. The second position in the ranking was held by the UK ($X), with a 21% share of total imports. It was followed by Tunisia, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Spain stood at +13.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+8.4% per year) and Tunisia (+50.2% per year).

Import Prices by Country

In 2022, the average salt import price amounted to $X per ton, with an increase of 9.6% against the previous year. Over the last decade, it increased at an average annual rate of +3.9%. The growth pace was the most rapid in 2021 when the average import price increased by 24%. The import price peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+29.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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