Price for Flours and Meals; of Soya Beans in Portugal - 2023

Price for Flours and Meals; of Soya Beans in Portugal (CIF) - 2023

The average import price for flours and meals; of soya beanses stood at $562 per ton in September 2023, increasing by 3% against the previous month. Overall, import price indicated slight growth from November 2022 to September 2023: its price increased at an average monthly rate of +1.3% over the last ten-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2023 figures, import price for flours and meals; of soya beanses decreased by -36.2% against February 2023 indices. The pace of growth was the most pronounced in January 2023 an increase of 31% month-to-month. Over the period under review, average import prices attained the peak figure at $881 per ton in February 2023; however, from March 2023 to September 2023, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Spain.

From November 2022 to September 2023, the rate of growth in terms of prices for Spain amounted to +1.7% per month.

Price for Flours and Meals; of Soya Beans in Portugal (FOB) - 2023

In September 2023, the average export price for flours and meals; of soya beanses amounted to $686 per ton, with an increase of 2.7% against the previous month. Overall, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in January 2023 when the average export price increased by 11% against the previous month. The export price peaked at $721 per ton in February 2023; however, from March 2023 to September 2023, the export prices remained at a lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Spain ($699 per ton), while the average price for exports to Estonia ($453 per ton) was amongst the lowest.

From November 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (+1.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flours and Meals; of Soya Beans in Portugal

For the third consecutive year, Portugal recorded decline in supplies from abroad of flours and meals; of soya beanses, which decreased by -21.1% to 21K tons in 2022. Over the period under review, imports continue to indicate a drastic downturn. The smallest decline of -0.5% was in 2020.

In value terms, imports of flours and meals; of soya beanses reduced modestly to $12M in 2022. In general, imports faced a precipitous descent. The pace of growth was the most pronounced in 2021 with an increase of 4.7% against the previous year.

Import of Flours and Meals; of Soya Beans in Portugal (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Spain	4.9	11.5	12.0	11.3	32.1%
Germany	28.5	N/A	N/A	0.2	-80.9%
Others	0.2	0.2	0.2	0.2	0.0%
Total	33.6	11.6	12.2	11.7	-29.6%

Top Suppliers of Flours and Meals; of Soya Beans to Portugal in 2022:

Spain (20.9K tons)

Exports of Flours and Meals; of Soya Beans in Portugal

In 2022, overseas shipments of flours and meals; of soya beanses decreased by -44% to 14K tons, falling for the second consecutive year after two years of growth. Over the period under review, exports faced a dramatic curtailment. The growth pace was the most rapid in 2020 when exports increased by 7.7% against the previous year. As a result, the exports attained the peak of 33K tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of flours and meals; of soya beanses contracted remarkably to $8.7M in 2022. In general, exports recorded a deep contraction. The pace of growth was the most pronounced in 2020 with an increase of 13% against the previous year. As a result, the exports reached the peak of $14M. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.