Portugal: Preserved Tuna Market 2022

Preserved Tuna Market Size in Portugal

The Portuguese preserved tuna market shrank significantly to $X in 2021, which is down by -X% against the previous year. The market value increased at an average annual rate of +X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Preserved Tuna Production in Portugal

In value terms, preserved tuna production contracted to $X in 2021 estimated in export prices. Overall, the total production indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +X% against 2015 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% year-to-year. Preserved tuna production peaked at $X in 2020, and then shrank in the following year.

Preserved Tuna Exports

Exports from Portugal

In 2021, shipments abroad of tuna (prepared or preserved) increased by X% to X tonnes, rising for the second year in a row after two years of decline. Overall, total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +X% against 2019 indices. The pace of growth appeared the most rapid in 2016 when exports increased by X% year-to-year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, preserved tuna exports reached $X in 2021. Over the period under review, total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +X% against 2019 indices. The pace of growth appeared the most rapid in 2016 with an increase of X% year-to-year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Spain (X tonnes) was the main destination for preserved tuna exports from Portugal, accounting for a X% share of total exports. Moreover, preserved tuna exports to Spain exceeded the volume sent to the second major destination, Italy (X tonnes), threefold. The Netherlands (X tonnes) ranked third in terms of total exports with a X% share.

From 2012 to 2021, the average annual growth rate of volume to Spain stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+X% per year) and the Netherlands (+X% per year).

In value terms, the largest markets for preserved tuna exported from Portugal were Spain ($X), Italy ($X) and France ($X), together accounting for X% of total exports. The UK, the Netherlands, Germany, Mozambique, the United States, Mauritania and Morocco lagged somewhat behind, together accounting for a further X terms of the main countries of destination, Morocco, 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

The average preserved tuna export price stood at $X per tonne in 2021, shrinking by -X% against the previous year. Overall, the export price saw a noticeable curtailment. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per tonne. From 2019 to 2021, the the average export prices remained at a lower figure.

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

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

Preserved Tuna Imports

Imports into Portugal

In 2021, approx. X tonnes of tuna (prepared or preserved) were imported into Portugal; declining by -X% compared with the year before. Over the period under review, total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +X% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% y-o-y. Imports peaked at X tonnes in 2020, and then contracted in the following year.

In value terms, preserved tuna imports fell to $X in 2021. In general, total imports indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +X% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Imports peaked at $X in 2020, and then dropped in the following year.

Imports by Country

In 2021, Spain (X tonnes) constituted the largest preserved tuna supplier to Portugal, with a X% share of total imports. Moreover, preserved tuna imports from Spain exceeded the figures recorded by the second-largest supplier, China (X tonnes), twofold. The third position in this ranking was occupied by Ecuador (X tonnes), with a X% share.

From 2012 to 2021, the average annual growth rate of volume from Spain totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+X% per year) and Ecuador (+X% per year).

In value terms, Spain ($X) constituted the largest supplier of preserved tuna to Portugal, comprising X% of total imports. The second position in the ranking was occupied by Ecuador ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (+X% per year) and China (+X% per year).

Import Prices by Country

In 2021, the average preserved tuna import price amounted to $X per tonne, shrinking by -X% against the previous year. In general, the import price continues to indicate a noticeable descent. The most prominent rate of growth was recorded in 2017 an increase of X% year-to-year. The import price peaked at $X per tonne in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (-X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform