Portugal: Sugar Cane Market 2024

Sugar Cane Market Size in Portugal

The Portuguese sugar cane market shrank to $X in 2022, almost unchanged from the previous year. Overall, consumption, however, saw a slight slump. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Sugar Cane Production in Portugal

In value terms, sugar cane production contracted sharply to $X in 2022 estimated in export price. In general, production, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. Sugar cane production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of sugar cane in Portugal reached X tons per ha, leveling off at the previous year's figure. Overall, the yield recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the yield increased by X% against the previous year. The sugar cane yield peaked at X tons per ha in 2018; however, from 2019 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of sugar cane production in Portugal amounted to X ha, stabilizing at the previous year's figure. In general, the harvested area showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the harvested area increased by X% against the previous year. Over the period under review, the harvested area dedicated to sugar cane production reached the maximum in 2022 and is expected to retain growth in years to come.

Sugar Cane Exports

Exports from Portugal

In 2021, overseas shipments of sugar cane decreased by X% to X kg, falling for the third consecutive year after two years of growth. In general, exports showed a mild expansion. The pace of growth appeared the most rapid in 2018 with an increase of X%. The exports peaked in 2021 and are likely to continue growth in the near future.

In value terms, sugar cane exports amounted to $X in 2021. Overall, exports posted a modest increase. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Belgium (X kg), France (X kg) and Luxembourg (X kg) were the main destinations of sugar cane exports from Portugal, together comprising X% of total exports.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sugar cane exported from Portugal were Belgium ($X), France ($X) and the UK ($X), with a combined X% share of total exports.

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

Export Prices by Country

In 2021, the average sugar cane export price amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Luxembourg ($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 France (X%), while the prices for the other major destinations experienced a decline.

Sugar Cane Imports

Imports into Portugal

In 2022, after two years of growth, there was significant decline in overseas purchases of sugar cane, when their volume decreased by X% to X tons. Overall, imports saw a dramatic descent. The pace of growth was the most pronounced in 2015 with an increase of X%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, sugar cane imports dropped to $X in 2022. Over the period under review, imports recorded a dramatic downturn. The pace of growth appeared the most rapid in 2015 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Spain (X tons) constituted the largest sugar cane supplier to Portugal, with a X% share of total imports. Moreover, sugar cane imports from Spain exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain amounted to X%.

In value terms, Spain ($X) constituted the largest supplier of sugar cane to Portugal, comprising X% of total imports. The second position in the ranking was taken by the Netherlands ($X), with an X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Spain stood at X%.

Import Prices by Country

The average sugar cane import price stood at $X per ton in 2022, growing by X% against the previous year. Overall, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sugar cane import price increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2013 when the average import price increased by X%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain 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 Spain ($X per ton), while the price for the Netherlands amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (X%).

Source: IndexBox Platform

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