Portugal: Beef Market 2024

Beef Market Size in Portugal

In 2022, the Portuguese beef market increased by X% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Beef Production in Portugal

In value terms, beef production rose to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

The average yield of beef (cattle meat) in Portugal was estimated at X kg per head in 2022, approximately mirroring 2021 figures. In general, the yield showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X%. The beef yield peaked at X kg per head in 2019; however, from 2020 to 2022, the yield stood at a somewhat lower figure.

In 2022, the number of animals slaughtered for beef production in Portugal dropped modestly to X heads, declining by X% on the previous year. Over the period under review, the number of producing animals saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. The number of animals slaughtered for beef production peaked at X heads in 2021, and then shrank slightly in the following year.

Beef Exports

Exports from Portugal

In 2022, overseas shipments of beef (cattle meat) increased by X% to X tons, rising for the second year in a row after two years of decline. In general, exports posted buoyant growth. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, beef exports skyrocketed to $X in 2022. Over the period under review, exports showed a strong increase. The most prominent rate of growth was recorded in 2018 when exports increased by X% 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 beef exports from Portugal, with a X% share of total exports. Moreover, beef exports to Spain exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold. The UK (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Spain amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and the UK (X% per year).

In value terms, Spain ($X) remains the key foreign market for beef (cattle meat) exports from Portugal, comprising X% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total exports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Spain totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and the UK (X% per year).

Export Prices by Country

The average beef export price stood at $X per ton in 2022, jumping by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. The export price peaked in 2022 and is likely to see gradual growth in years to come.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Italy ($X per ton) and Angola ($X per ton), while the average price for exports to the Netherlands ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (X%), while the prices for the other major destinations experienced more modest paces of growth.

Beef Imports

Imports into Portugal

In 2022, overseas purchases of beef (cattle meat) increased by X% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, beef imports soared to $X in 2022. Overall, total imports indicated strong growth from 2012 to 2022: its value 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Spain (X tons) constituted the largest beef supplier to Portugal, accounting for a X% share of total imports. Moreover, beef imports from Spain exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fivefold. Poland (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Poland (X% per year).

In value terms, Spain ($X) constituted the largest supplier of beef (cattle meat) to Portugal, comprising X% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total imports. It was followed by Poland, with a X% share.

From 2012 to 2022, 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: the Netherlands (X% per year) and Poland (X% per year).

Import Prices by Country

The average beef import price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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