Price for Cereal Groats and Meal; of Maize (Corn) in Portugal - 2023
Contents:
- Price for Cereal Groats and Meal; of Maize (Corn) in Portugal (CIF) - 2023
- Price for Cereal Groats and Meal; of Maize (Corn) in Portugal (FOB) - 2023
- Imports of Cereal Groats and Meal; of Maize (Corn) in Portugal
- Exports of Cereal Groats and Meal; of Maize (Corn) in Portugal
Price for Cereal Groats and Meal; of Maize (Corn) in Portugal (CIF) - 2023
In October 2023, the average import price for cereal groats and meal; of maize (corn)s amounted to $588 per ton, shrinking by -4.9% against the previous month. Over the period under review, import price indicated a pronounced increase from October 2022 to October 2023: its price increased at an average monthly rate of +3.3% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on October 2023 figures, import price for cereal groats and meal; of maize (corn)s increased by +18.2% against August 2023 indices. The pace of growth was the most pronounced in April 2023 when the average import price increased by 34% m-o-m. The import price peaked at $632 per ton in July 2023; however, from August 2023 to October 2023, import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In October 2023, the country with the highest price was Spain ($601 per ton), while the price for Ukraine amounted to $539 per ton.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Spain (+3.6%).
Price for Cereal Groats and Meal; of Maize (Corn) in Portugal (FOB) - 2023
The average export price for cereal groats and meal; of maize (corn)s stood at $552 per ton in October 2023, reducing by -23.4% against the previous month. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in August 2023 when the average export price increased by 42% month-to-month. As a result, the export price attained the peak level of $808 per ton. From September 2023 to October 2023, the the average export prices failed to regain momentum.
Average prices varied somewhat for the major overseas markets. In October 2023, the country with the highest price was Cabo Verde ($718 per ton), while the average price for exports to Spain ($496 per ton) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+1.9%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Cereal Groats and Meal; of Maize (Corn) in Portugal
After three years of growth, purchases abroad of cereal groats and meal; of maize (corn)s decreased by -24% to 13K tons in 2022. Over the period under review, total imports indicated pronounced growth from 2019 to 2022: its volume increased at an average annual rate of +4.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +15.3% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 43%. As a result, imports reached the peak of 17K tons, and then dropped sharply in the following year.
In value terms, imports of cereal groats and meal; of maize (corn)s declined sharply to $5.3M in 2022. Overall, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +13.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +45.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 60% against the previous year. As a result, imports attained the peak of $6.3M, and then shrank markedly in the following year.
| Import of Cereal Groats and Meal; of Maize (Corn) in Portugal (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | 3.5 | 3.6 | 6.2 | 5.0 | 12.6% |
| France | 0.1 | 0.2 | N/A | 0.2 | 26.0% |
| Others | 0.1 | 0.2 | 0.1 | 0.1 | 0.0% |
| Total | 3.7 | 4.0 | 6.3 | 5.3 | 12.7% |
Top Suppliers of Cereal Groats and Meal; of Maize (Corn) to Portugal in 2022:
- Spain (12.3K tons)
- France (0.3K tons)
Exports of Cereal Groats and Meal; of Maize (Corn) in Portugal
In 2022, the amount of cereal groats and meal; of maize (corn)s exported from Portugal declined notably to 5.5K tons, with a decrease of -31.2% against 2021. Overall, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 19%.
In value terms, exports of cereal groats and meal; of maize (corn)s shrank to $2.8M in 2022. In general, exports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2021 when exports increased by 35% against the previous year.
| Export of Cereal Groats and Meal; of Maize (Corn) in Portugal (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Angola | 1,747 | 1,203 | 1,881 | 1,218 | -11.3% |
| Spain | 932 | 808 | 838 | 1,009 | 2.7% |
| Sao Tome and Principe | 259 | 186 | 323 | 344 | 9.9% |
| Cabo Verde | 187 | 86.7 | 52.0 | 60.1 | -31.5% |
| Others | 219 | 79.7 | 86.6 | 175 | -7.2% |
| Total | 3,344 | 2,364 | 3,180 | 2,807 | -5.7% |
Top Export Markets for Cereal Groats and Meal; of Maize (Corn) from Portugal in 2022:
- Angola (2.5K tons)
- Spain (2.1K tons)
- Sao Tome and Principe (0.5K tons)
- Cabo Verde (0.1K tons)
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