Portugal: Palm Oil Market 2024

Palm Oil Market Size in Portugal

The Portuguese palm oil market fell dramatically to $X in 2022, declining by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a abrupt setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Palm Oil Exports

Exports from Portugal

In 2022, shipments abroad of palm oil increased by X% to X tons, rising for the third consecutive year after two years of decline. Overall, exports showed a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, palm oil exports surged to $X in 2022. In general, exports continue to indicate a buoyant increase. The growth pace was the most rapid in 2021 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Spain (X tons) was the main destination for palm oil exports from Portugal, accounting for a X% share of total exports. Moreover, palm oil exports to Spain exceeded the volume sent to the second major destination, Cabo Verde (X tons), more than tenfold. The third position in this ranking was held by Mozambique (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Spain stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cabo Verde (X% per year) and Mozambique (X% per year).

In value terms, Spain ($X) remains the key foreign market for palm oil exports from Portugal, comprising X% of total exports. The second position in the ranking was taken by Cabo Verde ($X), with a X% share of total exports. It was followed by Mozambique, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Spain totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cabo Verde (X% per year) and Mozambique (X% per year).

Export Prices by Country

In 2022, the average palm oil export price amounted to $X per ton, growing by X% against the previous year. Overall, the export price continues to indicate a notable expansion. The most prominent rate of growth was recorded in 2019 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see steady growth in the near future.

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 Angola ($X per ton), while the average price for exports to Spain ($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 Angola (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Palm Oil Imports

Imports into Portugal

In 2022, imports of palm oil into Portugal reduced sharply to X tons, declining by X% on 2021 figures. Over the period under review, imports showed a abrupt slump. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, palm oil imports fell rapidly to $X in 2022. Overall, imports recorded a abrupt contraction. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Spain (X tons), the Netherlands (X tons) and Sierra Leone (X tons) were the main suppliers of palm oil imports to Portugal, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sierra Leone (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) constituted the largest supplier of palm oil to Portugal, comprising X% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total imports. It was followed by Sierra Leone, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Spain stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Sierra Leone (X% per year).

Import Prices by Country

In 2022, the average palm oil import price amounted to $X per ton, increasing by X% against the previous year. In general, the import price posted a moderate expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

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