Portugal: Frozen Pork Carcase Market 2024

Frozen Pork Carcase Market Size in Portugal

For the fifth consecutive year, the Portuguese frozen pork carcase market recorded growth in sales value, which increased by 2,040% to $X in 2022. Overall, consumption saw a significant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Frozen Pork Carcase Production in Portugal

In value terms, frozen pork carcase production fell rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a deep downturn. The pace of growth was the most pronounced in 2021 when the production volume increased by 595%. As a result, production reached the peak level of $X, and then shrank sharply in the following year.

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Frozen Pork Carcase Exports

Exports from Portugal

In 2022, shipments abroad of frozen carcases of pig meat decreased by -94.4% to X tons, falling for the second consecutive year after two years of growth. Overall, exports recorded a mild decrease. The most prominent rate of growth was recorded in 2019 with an increase of 677% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, frozen pork carcase exports fell markedly to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 453%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for frozen pork carcase exports from Portugal, with a 51% share of total exports. Moreover, frozen pork carcase exports to China exceeded the volume sent to the second major destination, France (X tons), fourfold. Switzerland (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at +184.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+24.1% per year) and Switzerland (+7.4% per year).

In value terms, the largest markets for frozen pork carcase exported from Portugal were Switzerland ($X), France ($X) and China ($X), with a combined 74% share of total exports.

China, with a CAGR of +133.5%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average frozen pork carcase export price stood at $X per ton in 2022, with an increase of 49% against the previous year. Overall, the export price saw mild growth. The pace of growth was the most pronounced in 2013 an increase of 91%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to China ($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 Spain (+9.1%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Pork Carcase Imports

Imports into Portugal

In 2022, imports of frozen carcases of pig meat into Portugal dropped remarkably to X tons, with a decrease of -29.5% compared with 2021. Overall, total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 165% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, frozen pork carcase imports fell dramatically to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 153%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Spain (X tons) constituted the largest frozen pork carcase supplier to Portugal, accounting for a 52% share of total imports. Moreover, frozen pork carcase imports from Spain exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain amounted to -2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+249.1% per year) and Germany (+41.6% per year).

In value terms, Spain ($X) constituted the largest supplier of frozen carcases of pig meat to Portugal, comprising 60% of total imports. The second position in the ranking was taken by Germany ($X), with an 18% share of total imports. It was followed by China, with a 9.2% share.

From 2012 to 2022, the average annual growth rate of value from Spain totaled -2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+41.0% per year) and China (+327.0% per year).

Import Prices by Country

The average frozen pork carcase import price stood at $X per ton in 2022, picking up by 4.3% against the previous year. Over the period under review, the import price, however, saw a pronounced slump. The most prominent rate of growth was recorded in 2017 when the average import price increased by 26%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+22.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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