Report Update: Apr 1, 2024

Portugal - Fish Fats And Oils - Market Analysis, Forecast, Size, Trends And Insights

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Price for Fish Fat and Oil in Portugal - 2023

Price for Fish Fat and Oil in Portugal (CIF) - 2023

In July 2023, the average fish fat and oil import price amounted to $4,836 per ton, declining by -30.9% against the previous month. Overall, the import price, however, showed a notable increase. The most prominent rate of growth was recorded in October 2022 an increase of 217% month-to-month. As a result, import price attained the peak level of $15,582 per ton. From November 2022 to July 2023, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Oman ($8,832 per ton), while the price for Norway ($2,404 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Spain (+1.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Fish Fat and Oil in Portugal (FOB) - 2023

In July 2023, the average fish fat and oil export price amounted to $5,267 per ton, surging by 133% against the previous month. Overall, the export price posted a notable expansion. The pace of growth was the most pronounced in May 2023 when the average export price increased by 256% m-o-m. As a result, the export price reached the peak level of $8,778 per ton. From June 2023 to July 2023, the the average export prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was the United States ($11,724 per ton), while the average price for exports to Spain ($2,723 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fish Fat and Oil in Portugal

In 2022, overseas purchases of fish fats and oils were finally on the rise to reach 1.3K tons for the first time since 2019, thus ending a two-year declining trend. In general, imports continue to indicate a tangible increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, fish fat and oil imports surged to $5.7M in 2022. Overall, total imports indicated noticeable growth from 2019 to 2022: its value increased at an average annual rate of +2.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Import of Fish Fat and Oil in Portugal (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Spain	3,834	3,219	2,714	3,686	-1.3%
Oman	63.4	189	N/A	584	109.6%
Yemen	N/A	N/A	N/A	241	0%
Norway	23.9	1.1	0.7	211	106.7%
France	168	92.9	110	171	0.6%
Morocco	N/A	N/A	N/A	152	0%
Poland	0.1	0.1	0.2	50.8	697.9%
Senegal	809	N/A	N/A	N/A	0%
Others	307	111	424	566	22.6%
Total	5,205	3,613	3,248	5,662	2.8%

Top Suppliers of Fish Fat and Oil to Portugal in 2022:

Spain (979.8 tons)
Norway (89.5 tons)
Oman (62.4 tons)
Morocco (44.6 tons)
Yemen (35.2 tons)
France (23.0 tons)
Poland (22.0 tons)

Exports of Fish Fat and Oil in Portugal

In 2022, after three years of growth, there was significant decline in overseas shipments of fish fats and oils, when their volume decreased by -15.2% to 905 tons. The total export volume increased at an average annual rate of +4.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when exports increased by 31% against the previous year.

In value terms, fish fat and oil exports rose markedly to $2.2M in 2022. Overall, total exports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +24.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +92.2% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 54% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Export of Fish Fat and Oil in Portugal (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Spain	575	627	867	854	14.1%
China	N/A	0.9	8.5	278	1657.5%
United Kingdom	N/A	N/A	169	222	31.4%
United States	8.2	37.6	18.6	191	185.6%
Poland	20.2	118	226	164	101.0%
Sweden	107	191	248	51.9	-21.4%
France	17.6	423	254	43.1	34.8%
United Arab Emirates	N/A	N/A	N/A	24.0	0%
Iceland	225	179	21.2	22.1	-53.9%
Others	187	181	123	340	22.1%
Total	1,140	1,758	1,936	2,190	24.3%

Top Export Markets for Fish Fat and Oil from Portugal in 2022:

Spain (538.1 tons)
United Kingdom (198.1 tons)
Poland (47.5 tons)
United States (31.4 tons)
China (16.5 tons)
United Arab Emirates (13.7 tons)
Sweden (11.6 tons)
Iceland (8.6 tons)
France (6.1 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for fish fat and oil in Portugal. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 10411200 - Fats and oils and their fractions of fish or marine mammals (excluding chemically modified)

Country coverage:

Portugal

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Portugal
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023