Portugal: Market for Nuts (Prepared Or Preserved) 2023

Market Size for Nuts (Prepared Or Preserved) in Portugal

The Portuguese nuts (prepared or preserved) market reached $X in 2021, standing approx. at the previous year. In general, the total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +70.6% against 2013 indices. Nuts (prepared or preserved) consumption peaked in 2021 and is likely to see steady growth in years to come.

Production of Nuts (Prepared Or Preserved) in Portugal

In value terms, nuts (prepared or preserved) production expanded sharply to $X in 2021 estimated in export price. Over the period under review, production, however, recorded resilient growth. The pace of growth was the most pronounced in 2014 with an increase of 40% against the previous year. Over the period under review, production attained the peak level in 2021 and is expected to retain growth in the immediate term.

Exports of Nuts (Prepared Or Preserved)

Exports from Portugal

In 2021, approx. X tons of nuts (prepared or preserved) were exported from Portugal; increasing by 18% against 2020 figures. Overall, exports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2016 when exports increased by 100%. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, nuts (prepared or preserved) exports surged to $X in 2021. Over the period under review, exports continue to indicate a moderate expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 105%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Spain (X tons) was the main destination for nuts (prepared or preserved) exports from Portugal, accounting for a 61% share of total exports. Moreover, nuts (prepared or preserved) exports to Spain exceeded the volume sent to the second major destination, France (X tons), threefold. The third position in this ranking was held by Angola (X tons), with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Spain amounted to +12.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+10.1% per year) and Angola (-12.0% per year).

In value terms, Spain ($X) remains the key foreign market for nuts (prepared or preserved) exports from Portugal, comprising 56% of total exports. The second position in the ranking was held by France ($X), with a 19% share of total exports. It was followed by Angola, with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Spain totaled +13.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+8.0% per year) and Angola (-17.9% per year).

Export Prices by Country

The average nuts (prepared or preserved) export price stood at $X per ton in 2021, picking up by 4.6% against the previous year. Overall, the export price, however, saw a perceptible downturn. The growth pace was the most rapid in 2019 an increase of 7.9%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Cabo Verde ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+174.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nuts (Prepared Or Preserved)

Imports into Portugal

Nuts (prepared or preserved) imports into Portugal shrank to X tons in 2021, which is down by -3% on 2020 figures. Overall, imports, however, continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2020 with an increase of 36%. As a result, imports attained the peak of X tons, and then declined slightly in the following year.

In value terms, nuts (prepared or preserved) imports fell to $X in 2021. Over the period under review, imports, however, showed strong growth. The growth pace was the most rapid in 2020 with an increase of 44% against the previous year. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of nuts (prepared or preserved) to Portugal, with a 50% share of total imports. Moreover, nuts (prepared or preserved) imports from Spain exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The Netherlands (X tons) ranked third in terms of total imports with a 6.3% share.

From 2012 to 2021, the average annual growth rate of volume from Spain totaled +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.3% per year) and the Netherlands (-2.1% per year).

In value terms, Spain ($X), Germany ($X) and the Netherlands ($X) constituted the largest nuts (prepared or preserved) suppliers to Portugal, with a combined 78% share of total imports. These countries were followed by Luxembourg, Italy, France and the Philippines, which together accounted for a further 15%.

The Philippines, with a CAGR of +112.1%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average nuts (prepared or preserved) import price amounted to $X per ton, dropping by -8% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 29% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Luxembourg ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Luxembourg (+5.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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