Portugal: Temporarily Preserved Vegetable Market 2024

Temporarily Preserved Vegetable Market Size in Portugal

The Portuguese temporarily preserved vegetable market fell rapidly to $X in 2022, reducing by -17.4% 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). Overall, consumption continues to indicate a abrupt slump. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Temporarily Preserved Vegetable Exports

Exports from Portugal

In 2022, overseas shipments of vegetables (temporarily preserved) increased by 146% to X tons, rising for the third consecutive year after three years of decline. Overall, exports continue to indicate strong growth. The pace of growth appeared the most rapid in 2016 with an increase of 271%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, temporarily preserved vegetable exports skyrocketed to $X in 2022. In general, exports showed a resilient increase. The pace of growth was the most pronounced in 2016 with an increase of 281% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Spain (X tons) was the main destination for temporarily preserved vegetable exports from Portugal, accounting for a 84% share of total exports. Moreover, temporarily preserved vegetable exports to Spain exceeded the volume sent to the second major destination, Belarus (X tons), tenfold. The third position in this ranking was taken by Brazil (X tons), with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Spain totaled +12.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (+41.6% per year) and Brazil (+20.1% per year).

In value terms, Spain ($X) emerged as the key foreign market for vegetables (temporarily preserved) exports from Portugal, comprising 76% of total exports. The second position in the ranking was held by Brazil ($X), with an 11% share of total exports. It was followed by Belarus, with a 9.1% share.

From 2012 to 2022, the average annual growth rate of value to Spain stood at +16.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+24.4% per year) and Belarus (+39.2% per year).

Export Prices by Country

The average temporarily preserved vegetable export price stood at $X per ton in 2022, falling by -50.9% against the previous year. Over the period under review, the export price, however, posted a modest increase. The most prominent rate of growth was recorded in 2021 an increase of 58%. As a result, the export price reached the peak level of $X per ton, and then declined dramatically in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Spain ($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 Italy (+19.3%), while the prices for the other major destinations experienced more modest paces of growth.

Temporarily Preserved Vegetable Imports

Imports into Portugal

In 2022, approx. X tons of vegetables (temporarily preserved) were imported into Portugal; jumping by 53% against the previous year. Overall, imports, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2020 when imports increased by 137%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, temporarily preserved vegetable imports surged to $X in 2022. In general, imports, however, recorded a mild shrinkage. The most prominent rate of growth was recorded in 2020 when imports increased by 130%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Spain (X tons) constituted the largest temporarily preserved vegetable supplier to Portugal, accounting for a 88% share of total imports. Moreover, temporarily preserved vegetable imports from Spain exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Spain totaled -6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.2% per year) and India (-6.0% per year).

In value terms, Spain ($X) constituted the largest supplier of vegetables (temporarily preserved) to Portugal, comprising 91% of total imports. The second position in the ranking was taken by Germany ($X), with a 3.7% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain totaled -1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-2.2% per year) and India (-1.1% per year).

Import Prices by Country

The average temporarily preserved vegetable import price stood at $X per ton in 2022, with an increase of 6.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +5.0%. The growth pace was the most rapid in 2021 an increase of 20% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+5.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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