Portugal: Wheat Market 2025

Wheat Market Size in Portugal

In 2022, the Portuguese wheat market increased by 15% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Wheat Production in Portugal

In value terms, wheat production totaled $X in 2022 estimated in export price. Overall, the total production indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.7% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by 52% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

In 2022, the average yield of wheat in Portugal amounted to X tons per ha, surging by 7.4% against 2021 figures. Over the period under review, the yield indicated a remarkable increase from 2012 to 2022: its figure increased at an average annual rate of +9.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wheat yield decreased by -6.1% against 2020 indices. The growth pace was the most rapid in 2013 when the yield increased by 64%. Over the period under review, the average wheat yield reached the peak level at X tons per ha in 2020; however, from 2021 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the wheat harvested area in Portugal rose modestly to X ha, picking up by 2.6% against 2021 figures. Over the period under review, the harvested area, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2020 when the harvested area increased by 5.6%. The wheat harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

Wheat Exports

Exports from Portugal

In 2022, overseas shipments of wheat increased by 260% to X tons for the first time since 2017, thus ending a four-year declining trend. In general, exports, however, continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2014 when exports increased by 402%. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, wheat exports soared to $X in 2022. Overall, exports, however, continue to indicate a deep contraction. The pace of growth was the most pronounced in 2014 with an increase of 309% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X tons) was the main destination for wheat exports from Portugal, accounting for a approx. 99.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Spain stood at -9.8%.

In value terms, Spain ($X) also remains the key foreign market for wheat exports from Portugal.

From 2012 to 2022, the average annual rate of growth in terms of value to Spain amounted to -7.3%.

Export Prices by Country

The average wheat export price stood at $X per ton in 2022, increasing by 5.3% against the previous year. In general, export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wheat export price increased by +89.1% against 2017 indices. The most prominent rate of growth was recorded in 2021 an increase of 38% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Spain.

From 2012 to 2022, the rate of growth in terms of prices for Spain amounted to +2.8% per year.

Wheat Imports

Imports into Portugal

In 2022, supplies from abroad of wheat decreased by -5.6% to X tons, falling for the fifth year in a row after four years of growth. In general, imports showed a noticeable setback. The most prominent rate of growth was recorded in 2014 when imports increased by 18% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, wheat imports soared to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, France (X tons) constituted the largest supplier of wheat to Portugal, with a 52% share of total imports. Moreover, wheat imports from France exceeded the figures recorded by the second-largest supplier, Spain (X tons), fourfold. The third position in this ranking was taken by Poland (X tons), with a 6.8% share.

From 2012 to 2022, the average annual growth rate of volume from France was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-0.3% per year) and Poland (+25.8% per year).

In value terms, France ($X) constituted the largest supplier of wheat to Portugal, comprising 51% of total imports. The second position in the ranking was held by Spain ($X), with a 14% share of total imports. It was followed by Poland, with a 7.1% share.

From 2012 to 2022, the average annual growth rate of value from France stood at +1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+2.1% per year) and Poland (+29.6% per year).

Import Prices by Country

In 2022, the average wheat import price amounted to $X per ton, jumping by 32% against the previous year. In general, import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wheat import price increased by +100.7% against 2016 indices. As a result, import price reached the peak level and is likely to continue 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 Canada ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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