Price for Cereal Groats and Meal; of Wheat in Portugal - 2023

Contents:

1. Price for Cereal Groats and Meal; of Wheat in Portugal (CIF) - 2023
2. Price for Cereal Groats and Meal; of Wheat in Portugal (FOB) - 2022
3. Imports of Cereal Groats and Meal; of Wheat in Portugal
4. Exports of Cereal Groats and Meal; of Wheat in Portugal

Price for Cereal Groats and Meal; of Wheat in Portugal (CIF) - 2023

In September 2023, the average import price for cereal groats and meal; of wheats amounted to $805 per ton, picking up by 24% against the previous month. Over the period under review, import price indicated mild growth from December 2022 to September 2023: its price increased at an average monthly rate of +1.9% over the last nine months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2023 figures, import price for cereal groats and meal; of wheats increased by +24.3% against August 2023 indices. The most prominent rate of growth was recorded in February 2023 when the average import price increased by 54% m-o-m. As a result, import price reached the peak level of $1,183 per ton. From March 2023 to September 2023, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Italy ($1,254 per ton), while the price for Spain ($710 per ton) was amongst the lowest.

From December 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Spain (+1.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Cereal Groats and Meal; of Wheat in Portugal (FOB) - 2022

The average export price for cereal groats and meal; of wheats stood at $619 per ton in 2022, declining by -39.2% against the previous year. Over the period under review, the export price, however, posted tangible growth. The pace of growth was the most pronounced in 2017 an increase of 211%. Over the period under review, the average export prices reached the peak figure at $1,906 per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Angola ($627 per ton), while the average price for exports to Cabo Verde amounted to $350 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+8.2%), while the prices for the other major destinations experienced a decline.

Imports of Cereal Groats and Meal; of Wheat in Portugal

In 2022, overseas purchases of cereal groats and meal; of wheats decreased by -42.3% to 3.4K tons for the first time since 2018, thus ending a three-year rising trend. In general, imports continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2021 when imports increased by 32%. As a result, imports attained the peak of 5.9K tons, and then dropped dramatically in the following year.

In value terms, imports of cereal groats and meal; of wheats totaled $1.9M in 2022. Overall, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +16.4% 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 +57.7% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 39%. Over the period under review, imports of attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

Top Suppliers of Cereal Groats and Meal; of Wheat to Portugal in 2022:

1. Spain (3.2K tons)
2. Italy (0.2K tons)

Exports of Cereal Groats and Meal; of Wheat in Portugal

In 2022, approx. 299 tons of cereal groats and meal; of wheats were exported from Portugal; with an increase of 7,066% compared with the previous year's figure. Overall, exports continue to indicate a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of cereal groats and meal; of wheats soared to $185K in 2022. Over the period under review, exports recorded a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Top Export Markets for Cereal Groats and Meal; of Wheat from Portugal in 2022:

1. Angola (286.7 tons)
2. Cabo Verde (10.4 tons)

Source: IndexBox Market Intelligence Platform