Portugal: Shelled Hazelnut Market 2024

Shelled Hazelnut Market Size in Portugal

In 2021, the Portuguese shelled hazelnut market increased by 1.1% to $X, rising for the second consecutive year after four years of decline. The market value increased at an average annual rate of +4.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Shelled hazelnut consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Shelled Hazelnut Production in Portugal

In value terms, shelled hazelnut production declined sharply to $X in 2021 estimated in export price. Overall, production saw a abrupt curtailment. The pace of growth appeared the most rapid in 2015 when the production volume increased by 33%. As a result, production reached the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Shelled Hazelnut Exports

Exports from Portugal

In 2021, overseas shipments of shelled hazelnuts increased by 23% to X tons, rising for the second year in a row after five years of decline. Over the period under review, exports, however, continue to indicate a deep downturn. The growth pace was the most rapid in 2014 with an increase of 31% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, shelled hazelnut exports rose significantly to $X in 2021. In general, exports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of 73% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Denmark (X tons) was the main destination for shelled hazelnut exports from Portugal, accounting for a 49% share of total exports. Moreover, shelled hazelnut exports to Denmark exceeded the volume sent to the second major destination, Angola (X tons), threefold. The third position in this ranking was taken by Morocco (X tons), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Denmark amounted to +12.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (-28.0% per year) and Morocco (+41.9% per year).

In value terms, Denmark ($X) remains the key foreign market for shelled hazelnuts exports from Portugal, comprising 55% of total exports. The second position in the ranking was held by Angola ($X), with a 20% share of total exports. It was followed by Morocco, with a 6.7% share.

From 2012 to 2021, the average annual growth rate of value to Denmark totaled +13.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (-29.1% per year) and Morocco (+30.2% per year).

Export Prices by Country

The average shelled hazelnut export price stood at $X per ton in 2021, declining by -11.4% against the previous year. In general, the export price saw a pronounced decrease. The growth pace was the most rapid in 2014 an increase of 33% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 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 Mozambique ($X per ton), while the average price for exports to Morocco ($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 Denmark (+1.3%), while the prices for the other major destinations experienced mixed trend patterns.

Shelled Hazelnut Imports

Imports into Portugal

Shelled hazelnut imports into Portugal expanded rapidly to X tons in 2021, increasing by 10% on the previous year's figure. Over the period under review, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +120.4% against 2015 indices. The pace of growth appeared the most rapid in 2017 with an increase of 45% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, shelled hazelnut imports expanded sharply to $X in 2021. In general, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +27.7% against 2017 indices. The pace of growth appeared the most rapid in 2014 with an increase of 23% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

Turkey (X tons), Spain (X tons) and France (X tons) were the main suppliers of shelled hazelnut imports to Portugal, with a combined 82% share of total imports. Germany, the Netherlands, Italy and Belgium lagged somewhat behind, together comprising a further 18%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +47.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest shelled hazelnut suppliers to Portugal were Spain ($X), Turkey ($X) and France ($X), with a combined 80% share of total imports. Germany, the Netherlands, Italy and Belgium lagged somewhat behind, together comprising a further 20%.

Among the main suppliers, Belgium, with a CAGR of +48.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average shelled hazelnut import price amounted to $X per ton, dropping by -4.6% against the previous year. In general, import price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, shelled hazelnut import price increased by +8.6% against 2018 indices. The most prominent rate of growth was recorded in 2014 when the average import price increased by 35%. The import price peaked at $X per ton in 2015; however, from 2016 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 Belgium ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform