Portugal - Country Commercial Guide
Agricultural Sectors

This is a best prospect industry sector for this country. Includes a market overview and trade data.

Last published date: 2023-01-06

Overview

For more information on opportunities for US agricultural exports to Portugal, please contact the Office of Agricultural Affairs at the American Embassy in Madrid, covering Spain and Portugal:

USDA/Foreign Agricultural Service

U.S. Embassy Madrid

Email: AgLisbon@fas.usda.gov

Soybeans

Overview

Table 1: Total Market Size for Soybeans

 

 

2020

 

2021

2022 (estimate)

Total Market Size

528,069

664,549

594,100

Total Local Production

0

0

-

Total Exports

2,517

6,615

1,600

Total Imports

530,586

671,164

595,700

Imports from the U.S.

119,626

139,453

147,000

 

Unit: USD thousands

Total Market Size = (Total Local Production + Total Imports) – (Total Exports)

Data Sources:

Total Local Production: FAS Madrid estimates

Total Exports: Trade Data Monitor, LLC

Total Imports: Trade Data Monitor

Imports from U.S.: Trade Data Monitor

Data corresponding to Soybeans, (HS Code 1201) Trade Data Monitor

Opportunities          

Soybeans in Portugal are crushed to obtain soybean meal for the feed industry and soybean oil for the biodiesel industry.  Price competitiveness with other suppliers of feed ingredients (mostly located in South America) and other oilseeds determines the demand for U.S. soybeans in the feed and biofuel markets.  Since 2015, the extensive use of used cooking oils has reduced soybean oil used in biodiesel production.  Portugal is also an importer of soybean meal.  Price competitiveness compared to alternative suppliers determines sales opportunities for U.S. soybeans in Portugal.  However, beyond price relations, EU initiatives to minimize deforestation, fight climate change, and move towards more sustainable food systems could increase favorable market opportunities for U.S. soybeans against competitors if market entry strategies are adequately implemented.

Grains

Overview

Table 2: Total Market Size for Grains

 

 

2020

 

 

2021

 

2022 (estimate)

Total Market Size

950,829

1,222,867

1,674,000

Total Local Production

219,442

255,396

300

Total Exports

38,868

31,405

76,300

Total Imports

770,255

998,876

1,750,000

Imports from the U.S.

13,608

5,922

8,000

 

Unit: USD thousands

Total Market Size = (Total Local Production + Total Imports) – (Total Exports)

Data Sources:

Total Local Production: FAS Madrid estimates

Total Exports: Trade Data Monitor

Total Imports: Trade Data Monitor

Imports from U.S.: Trade Data Monitor

Data corresponding to Group 01 Trade Data Monitor

Opportunities

The gap between Portuguese grain consumption and production continues to expand.  Given the small size of the domestic grain crop, Portugal has a grain deficit of nearly 3.5 million metric tons (MMT).  Bulk commodity trading companies based in the Iberian Peninsula are the main gateway to the market of Portuguese feed and food grains.  With an estimated consumption of 3.3 MMT, the Portuguese compound feed industry is the primary grain buyer.  Grains represent nearly 60%of the feed formula.  The country’s compound feed production declined until 2015 when a combination of favorable input prices and increased efficiencies due to industry consolidation resulted in higher compound feed production levels.  Since January 2022, the phase-out of the EU’s 25% duty on U.S. corn has opened export opportunities for corn and other U.S. feed ingredients, such as corn processing by-products (DDGS).  The U.S. also exports wheat, including durum wheat, to Portugal, with export opportunities depending on competition from other origins.

Seafood

Overview          

Table 3: Total Market Size for Seafood
 

 

2020

 

 

2021

 

2022 (estimate)

Total Market Size

3,123,530

3,168,553

3,230,000

Total Local Production

1,950,000

2,000,000

2,000,000

Total Exports

721,710

968,588

970,000

Total Imports

1,895,240

2,137,141

2,200,000

Imports from the U.S.

21,184

13,673

18,000

 

Unit: USD thousands

Total Market Size = (Total Local Production + Total Imports) – (Total Exports)

Data Sources:

Total Local Production: FAS Madrid estimates

Total Exports: Trade Data Monitor

Total Imports: Trade Data Monitor

Imports from U.S.: Trade Data Monitor

Data corresponding to HS Code 03

Opportunities

The fishing industry’s development level reflects Portugal’s high consumption of fish and seafood. According to the European Market Observatory for Fisheries and Aquaculture (EUMOFA), the apparent seafood consumption in Portugal was estimated at 59.91 kg/year per capita in 2019.  

Portugal is a net importer of fish and seafood and sources from almost one hundred countries worldwide. In 2021, Portugal’s imports of fish and seafood from the United States were valued at $13.7 million.  U.S. seafood products are well-rated and in demand in the Portuguese market.  Cod, salmon, pollock, fish livers, and roe were the top imports from the United States in 2021.

Hardwood

Overview

Table 3: Total Market Size for Seafood
 

 

2020

 

 

2021

 

2022(estimate)

Total Market Size

203,163

207,338

205,000

Total Local Production

180,000

180,000

180,000

Total Exports

25,496

36,748

35,000

Total Imports

48,659

64,086

60,000

Imports from the U.S.

19,250

18,578

15,000

 

Unit: USD thousands

Total Market Size = (Total Local Production + Total Imports) – (Total Exports)

Data Sources:

Total Local Production: FAS Madrid estimate

Total Exports: Trade Data Monitor

Total Imports: Trade Data Monitor

Imports from U.S.: Trade Data Monitor)

Data corresponding to HS Codes 440391, 440791 and 440890

Opportunities

Portugal has a well-developed timber processing industry.  US hardwood has a good reputation in the Portuguese market for its high quality and reliability.  American oak is highly appreciated in the production of casks for Porto wine.                                                           

Nut Trees

Overview          

Table 5:  Total Market Size for Nut Trees
 

2020

 

2021

 

2022(estimate)

Total Market Size

47,071

21,065

25,000

Total Local Production

56,000

58,000

65,000

Total Exports

76,948

106,534

110,000

Total Imports

68,019

69,599

70,000

Imports from the U.S.

7,999

3,945

4,000

 

Unit: USD thousands

Total Market Size = (Total Local Production + Total Imports) – (Total Exports)

Data Sources:

Total Local Production: FAS Madrid estimates

Total Exports: Trade Data Monitor

Total Imports: Trade Data Monitor

Imports from U.S.: Trade Data Monitor

Data corresponding to HS Code 0802

Opportunities

The primary source of tree nuts for Portugal is Spain.  Some of these tree nuts likely originate in the United States, are imported through Spain, and finally re-exported to Portugal.  Almonds, walnuts, and pecans lead U.S. nut exports to Portugal.  Nuts are imported and reprocessed domestically for domestic consumption and re-export to third countries.  In 2021, these nuts’ main destinations outside the European Union were Brazil, the United States, Switzerland, and Canada.  

Pulses/Legumes

Overview

Table 6:Total Market Size for Pulses/Legumes    
 

2020

 

2021

 

2022 (estimate)

Total Market Size

39,323

47,121

46,500

Total Local Production

4,600

4,800

4,500

Total Exports

25,438

25,123

25,000

Total Imports

60,161

67,444

67,000

Imports from the U.S.

5,778

2,369

2,500

 

Unit: USD thousands

Total Market Size = (Total Local Production + Total Imports) – (Total Exports)

Data Sources:

Total Local Production: FAS Madrid estimates

Total Exports: Trade Data Monitor

Total Imports: Trade Data Monitor 

Imports from U.S.: Trade Data Monitor

Data corresponding to HS Code 0713 (Leguminous vegetables, dried shelled)

Opportunities

Domestic consumption of pulses is high in the Portuguese market, particularly for dry edible beans, which are an essential component of the local diet.  In 2021, US exports were led by chickpeas.  Companies also process and re-export dry edible beans within the EU market.

Agriculture Resources                                                                                        

FAS GAIN Reports

United States Dry Bean Council and USA Dry Peas and Lentil Council

FAS USEU Mission

Almond Board of California

American Hardwood Export Council

Ministry of Agriculture and Rural Development