Shrimp Price in Portugal - 2023
Contents:
- Shrimp Price in Portugal (CIF) - 2023
- Shrimp Price in Portugal (FOB) - 2023
- Shrimp Imports in Portugal
- Shrimp Exports in Portugal
Shrimp Price in Portugal (CIF) - 2023
In May 2023, the average shrimp import price amounted to $8,281 per ton, shrinking by -5.1% against the previous month. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in August 2022 when the average import price increased by 12% against the previous month. The import price peaked at $8,726 per ton in April 2023, and then reduced in the following month.
Prices varied noticeably by the country of origin: the country with the highest price was the Netherlands ($12,745 per ton), while the price for China ($5,503 per ton) was amongst the lowest.
From May 2022 to May 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Shrimp Price in Portugal (FOB) - 2023
The average shrimp export price stood at $9,809 per ton in May 2023, dropping by -10% against the previous month. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in February 2023 when the average export price increased by 31% m-o-m. The export price peaked at $12,534 per ton in March 2023; however, from April 2023 to May 2023, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Italy ($20,159 per ton), while the average price for exports to Montenegro ($7,202 per ton) was amongst the lowest.
From May 2022 to May 2023, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.
Shrimp Imports in Portugal
In 2022, the amount of shrimps imported into Portugal shrank to 32K tons, waning by -11.1% compared with 2021. The total import volume increased at an average annual rate of +2.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 34% against the previous year. As a result, imports reached the peak of 36K tons, and then shrank in the following year.
In value terms, shrimp imports declined to $281M in 2022. The total import value increased at an average annual rate of +5.3% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 37% against the previous year. As a result, imports attained the peak of $298M, and then fell in the following year.
| Import of Shrimp in Portugal (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | 112 | 103 | 154 | 126 | 4.0% |
| Ecuador | 7.6 | 12.0 | 16.9 | 28.2 | 54.8% |
| Mozambique | 25.8 | 22.7 | 29.5 | 24.0 | -2.4% |
| India | 22.0 | 16.3 | 23.3 | 23.2 | 1.8% |
| France | 12.0 | 11.2 | 9.8 | 11.6 | -1.1% |
| China | 9.9 | 6.7 | 9.4 | 10.4 | 1.7% |
| Angola | 5.7 | 6.2 | 7.0 | 8.5 | 14.2% |
| Bangladesh | 9.3 | 7.5 | 9.8 | 8.4 | -3.3% |
| Vietnam | 5.9 | 7.3 | 7.1 | 8.3 | 12.0% |
| Netherlands | 7.4 | 4.2 | 6.1 | 7.5 | 0.4% |
| Belgium | 5.5 | 5.0 | 5.4 | 5.6 | 0.6% |
| Argentina | 3.0 | 1.4 | 6.9 | 5.5 | 22.4% |
| Others | 14.8 | 13.7 | 12.4 | 13.8 | -2.3% |
| Total | 241 | 217 | 298 | 281 | 5.3% |
Top Suppliers of Shrimp to Portugal in 2022:
- Spain (14.1K tons)
- Ecuador (4.2K tons)
- India (3.6K tons)
- Mozambique (2.4K tons)
- China (1.7K tons)
- France (1.0K tons)
- Bangladesh (0.9K tons)
- Angola (0.7K tons)
- Vietnam (0.7K tons)
- Argentina (0.7K tons)
- Netherlands (0.6K tons)
- Belgium (0.5K tons)
Shrimp Exports in Portugal
Shrimp exports from Portugal rose sharply to 9.8K tons in 2022, increasing by 5.2% against 2021. In general, total exports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +8.0% 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 +58.1% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 50% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.
In value terms, shrimp exports rose notably to $100M in 2022. Over the period under review, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +11.8% 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 +70.9% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 60%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.
| Export of Shrimp in Portugal (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | 54.5 | 46.6 | 77.4 | 81.3 | 14.3% |
| France | 1.8 | 1.4 | 2.1 | 5.6 | 46.0% |
| Italy | 8.4 | 6.3 | 8.5 | 5.5 | -13.2% |
| United States | 0.3 | 0.1 | 0.3 | 1.1 | 54.2% |
| Others | 6.2 | 3.7 | 4.7 | 6.0 | -1.1% |
| Total | 71.2 | 58.2 | 93.0 | 99.5 | 11.8% |
Top Export Markets for Shrimp from Portugal in 2022:
- Spain (8.0K tons)
- France (0.5K tons)
- Italy (0.4K tons)
- United States (0.2K tons)
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