Portugal: Preserved Beef Market 2024

Preserved Beef Market Size in Portugal

The Portuguese preserved beef market surged to $X in 2022, picking up by X% against the previous year. Overall, consumption showed significant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Preserved Beef Production in Portugal

In value terms, preserved beef production surged to $X in 2022 estimated in export price. Overall, production showed a resilient expansion. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Preserved Beef Exports

Exports from Portugal

In 2022, shipments abroad of beef and veal (salted, in brine, dried or smoked) decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted rapidly in the following year.

In value terms, preserved beef exports shrank significantly to $X in 2022. Overall, exports, however, saw a significant increase. The pace of growth was the most pronounced in 2018 with an increase of X%. The exports peaked at $X in 2021, and then contracted significantly in the following year.

Exports by Country

Luxembourg (X tons) was the main destination for preserved beef exports from Portugal, accounting for a X% share of total exports. Moreover, preserved beef exports to Luxembourg exceeded the volume sent to the second major destination, France (X tons), fourfold. The UK (X tons) ranked third in terms of total exports with an X% share.

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

In value terms, Luxembourg ($X) emerged as the key foreign market for beef and veal (salted, in brine, dried or smoked) exports from Portugal, comprising X% of total exports. The second position in the ranking was held by France ($X), with an X% share of total exports. It was followed by Spain, with a X% share.

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

Export Prices by Country

In 2022, the average preserved beef export price amounted to $X per ton, rising by X% against the previous year. Over the period under review, the export price recorded a remarkable increase. The pace of growth appeared the most rapid in 2018 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Luxembourg ($X per ton), while the average price for exports to Cabo Verde ($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 Poland (X%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Beef Imports

Imports into Portugal

In 2022, the amount of beef and veal (salted, in brine, dried or smoked) imported into Portugal shrank remarkably to X tons, falling by X% against 2021 figures. Overall, imports, however, recorded a tangible expansion. The growth pace was the most rapid in 2021 with an increase of X%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, preserved beef imports fell rapidly to $X in 2022. In general, imports, however, enjoyed a temperate increase. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of preserved beef to Portugal, with a X% share of total imports. Moreover, preserved beef imports from Spain exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. The third position in this ranking was taken by the Netherlands (X tons), with a X% share.

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

In value terms, Spain ($X), Italy ($X) and the Netherlands ($X) appeared to be the largest preserved beef suppliers to Portugal, together comprising X% of total imports.

In terms of the main suppliers, the Netherlands, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average preserved beef import price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the import price, however, recorded a mild descent. The growth pace was the most rapid in 2020 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 France ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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