Portugal: Vegetable Oils Market 2024

Vegetable Oils Market Size in Portugal

In 2022, after three years of growth, there was significant decline in the Portuguese vegetable oils market, when its value decreased by X% to $X. Over the period under review, consumption showed a drastic downturn. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Vegetable Oils Production in Portugal

In value terms, vegetable oils production rose markedly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a perceptible curtailment. The pace of growth appeared the most rapid in 2019 when the production volume increased by X%. Vegetable oils production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Vegetable Oils Exports

Exports from Portugal

In 2022, approx. X tons of vegetable fats and oils were exported from Portugal; surging by X% against 2021 figures. In general, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in years to come.

In value terms, vegetable oils exports soared to $X in 2022. Overall, exports continue to indicate a significant increase. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Spain (X tons) was the main destination for vegetable oils exports from Portugal, with a X% share of total exports. Moreover, vegetable oils exports to Spain exceeded the volume sent to the second major destination, France (X tons), fourfold. The third position in this ranking was taken by Belgium (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Spain totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Belgium (X% per year).

In value terms, Spain ($X) emerged as the key foreign market for vegetable fats and oils exports from Portugal, comprising X% of total exports. The second position in the ranking was held by France ($X), with a X% share of total exports. It was followed by Belgium, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Spain totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Belgium (X% per year).

Export Prices by Country

The average vegetable oils export price stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the export price showed prominent growth. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see gradual growth in the near future.

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

Vegetable Oils Imports

Imports into Portugal

In 2022, purchases abroad of vegetable fats and oils increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, imports posted a moderate expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, imports attained the peak of X tons; afterwards, it flattened through to 2022.

In value terms, vegetable oils imports surged to $X in 2022. In general, imports continue to indicate a buoyant increase. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of vegetable oils to Portugal, accounting for a X% share of total imports. Moreover, vegetable oils imports from Spain exceeded the figures recorded by the second-largest supplier, Denmark (X tons), twofold. The third position in this ranking was taken by the Netherlands (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (X% per year) and the Netherlands (X% per year).

In value terms, Spain ($X) constituted the largest supplier of vegetable fats and oils to Portugal, comprising X% of total imports. The second position in the ranking was held by Denmark ($X), with a X% share of total imports. It was followed by the Netherlands, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Spain totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (X% per year) and the Netherlands (X% per year).

Import Prices by Country

In 2022, the average vegetable oils import price amounted to $X per ton, jumping by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for France ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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