Onion Price in Portugal - 2024
Contents:
- Onion Price in Portugal (CIF) - 2024
- Onion Price in Portugal (FOB) - 2024
- Onion Imports in Portugal
- Onion Exports in Portugal
Onion Price in Portugal (CIF) - 2024
In March 2024, the average onion import price amounted to $800 per ton, growing by 14% against the previous month. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in April 2023 an increase of 15% m-o-m. As a result, import price attained the peak level of $950 per ton. From May 2023 to March 2024, the average import prices remained at a somewhat lower figure.
Average prices varied somewhat amongst the major supplying countries. In March 2024, the highest price was recorded for prices from Spain ($904 per ton) and Peru ($817 per ton), while the price for France ($675 per ton) and the Netherlands ($709 per ton) were amongst the lowest.
From March 2023 to March 2024, the most notable rate of growth in terms of prices was attained by France (+0.9%), while the prices for the other major suppliers experienced mixed trend patterns.
Onion Price in Portugal (FOB) - 2024
In March 2024, the average onion export price amounted to $840 per ton, picking up by 4.3% against the previous month. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in December 2023 when the average export price increased by 349% month-to-month. The export price peaked at $904 per ton in March 2023; however, from April 2023 to March 2024, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was France ($1,145 per ton), while the average price for exports to the Netherlands ($423 per ton) was amongst the lowest.
From March 2023 to March 2024, the most notable rate of growth in terms of prices was recorded for supplies to France (+1.8%), while the prices for the other major destinations experienced mixed trend patterns.
Onion Imports in Portugal
For the fourth year in a row, Portugal recorded growth in purchases abroad of onions (dry), which increased by 11% to 88K tons in 2022. The total import volume increased at an average annual rate of +4.5% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, onion imports totaled $35M in 2022. The total import value increased at an average annual rate of +3.5% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Onion in Portugal (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | 24.4 | 23.4 | 24.2 | 27.5 | 4.1% |
| France | 3.3 | 2.5 | 3.7 | 4.6 | 11.7% |
| Netherlands | 1.2 | 1.3 | 1.3 | 1.6 | 10.1% |
| Germany | 1.3 | 1.3 | 1.1 | 0.8 | -14.9% |
| Others | 1.2 | 0.3 | 0.2 | 0.2 | -45.0% |
| Total | 31.3 | 28.8 | 30.4 | 34.7 | 3.5% |
Top Suppliers of Onion to Portugal in 2022:
- Spain (66.8K tons)
- France (16.9K tons)
- Netherlands (2.5K tons)
- Germany (1.1K tons)
Onion Exports in Portugal
In 2022, the amount of onions (dry) exported from Portugal soared to 14K tons, with an increase of 36% against 2021. Over the period under review, total exports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +15.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +77.4% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, onion exports reduced slightly to $4M in 2022. Overall, total exports indicated a measured expansion from 2019 to 2022: its value increased at an average annual rate of +2.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +57.9% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 64%. As a result, the exports attained the peak of $4.1M, and then fell in the following year.
| Export of Onion in Portugal (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | 2.5 | 1.8 | 3.5 | 3.1 | 7.4% |
| Cabo Verde | 0.5 | 0.3 | 0.3 | 0.5 | 0.0% |
| France | 0.2 | 0.2 | 0.1 | 0.1 | -20.6% |
| Others | 0.5 | 0.2 | 0.2 | 0.3 | -15.7% |
| Total | 3.7 | 2.5 | 4.1 | 4.0 | 2.6% |
Top Export Markets for Onion from Portugal in 2022:
- Spain (12.4K tons)
- Cabo Verde (1.2K tons)
- France (0.2K tons)
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