Beef and buffalo meat market in Portugal

Earlier Report Observations

Between 2018 and 2020, the beef and buffalo meat market in Portugal contracted, with volume falling from 155.4 thousand tons to 140.0 thousand tons. This period saw adjustments in import patterns following changes to the EU's quota 481 system from 2020, which reallocated access for suppliers like the United States and excluded Brazil from this specific quota, tightening available imports.

A turning point came in 2021 when market volume surged to 197.4 thousand tons, driven by a more than doubling of domestic production to 103.0 thousand tons. The growth continued into 2022, with volume reaching 208.5 thousand tons, as the war in Ukraine elevated input costs and consumer prices, yet demand remained robust.

In 2023, extreme drought conditions reduced cattle herds by approximately 15% compared to 2020, lowering production to 98.4 thousand tons. Despite the supply constraint, market volume rose to 216.4 thousand tons, supported by increased imports of 135.7 thousand tons, highlighting reliance on foreign meat to meet steady consumption.

Production beef and buffalo meat in Portugal

In value, 2018-2021, M $ US

In 2020, Portugal's beef and buffalo meat production was valued at 232.7 million US dollars, marking a 2.3% increase compared to the previous year. Production reached its lowest point in 2019 at 227.4 million US dollars, with the largest annual decline of 9.1% occurring that year. Over the period from 2018 to 2020, overall production decreased by 7%, which translates to an average annual decline of 2.4%.

Annual dynamics of production in Portugal in value, 2018-2021, M $ US

In kind, 2018-2021, K t

Top producers of beef and buffalo meat, 2018-2021

World map of production of beef and buffalo meat, 2018-2021

The market exhibited significant volatility during this period. Production hit its lowest point in 2019 at 43.2 thousand tonnes, with the largest annual decline of 4.6% recorded that year. In 2020, Portugal produced 103.0 thousand tonnes of beef and buffalo meat, representing a substantial 120.6% increase over the previous year. Production peaked in 2021 at 103.0 thousand tonnes, showing the largest annual increase of 120.6% and creating a 2.4-fold difference between the 2019 trough and 2021 peak.

Annual dynamics of production in Portugal in kind, 2018-2021, K t

Exports beef and buffalo meat from Portugal

Exports in kind, K t

Following two consecutive years of decline, Portugal's beef and buffalo meat exports began to recover. Exports reached their lowest point in 2020 at 14.1 thousand tonnes, with the largest annual decline of 9.4% occurring in 2019. In 2021, exports rebounded to 16.6 thousand tonnes, representing a 17.6% year-over-year increase. From 2018 to 2021, overall exports grew by 6%, averaging an annual growth rate of 2.0%.

Annual dynamics of product's exports from Portugal in kind, 2018-2021, K t

Between 2018 and 2021, Spain, the Netherlands, and France consistently served as Portugal's primary export destinations for beef and buffalo meat in volume terms. Spain accounted for 54.6% of exports, followed by the Netherlands at 18.7% and France at 6.3%. Together, these three markets represented 79.5% of Portugal's total beef and buffalo meat exports by volume.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Portugal in kind, 2018-2021

Exports in value, M $ US

After two years of contraction, Portugal's beef and buffalo meat export values showed a strong recovery. The lowest export value was recorded in 2020 at 50.4 million US dollars, with the largest annual decline of 16.7% occurring in 2019. In 2021, exports surged to 71.9 million US dollars, representing a sharp 42.7% increase compared to 2020. From 2018 to 2021, overall export values increased by 17.6%, averaging an annual growth rate of 5.6%.

Annual dynamics of product's exports from Portugal in value, 2018-2021, M $ US

From 2018 to 2021, Spain, the Netherlands, and the United Kingdom collectively accounted for 73.2% of Portugal's total beef and buffalo meat export value. These three markets consistently served as Portugal's principal export destinations in value terms throughout this period.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Portugal in value, 2018-2021

Imports beef and buffalo meat to Portugal

Imports in kind, K t

Following two years of decline, Portugal's beef and buffalo meat imports began to recover. Imports reached their lowest point in 2020 at 107.4 thousand tonnes, with the largest annual decline of 11.2% recorded that year. In 2021, imports increased to 110.9 thousand tonnes, representing a modest 3.3% gain compared to 2020. From 2018 to 2021, overall imports decreased by 11.7%, averaging an annual decline of 4.1%.

Annual dynamics of product's imports to Portugal in kind, 2018-2021, K t

Between 2018 and 2021, Spain, the Netherlands, and Poland consistently served as Portugal's primary suppliers of beef and buffalo meat in volume terms. Spain accounted for 65.1% of imports, followed by the Netherlands at 14.7% and Poland at 5.5%. Together, these three suppliers represented 85.2% of Portugal's total beef and buffalo meat imports by volume.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Portugal in kind, 2018-2021

Imports in value, M $ US

After two consecutive years of decrease, Portugal's beef and buffalo meat import values showed a significant recovery. Imports reached their lowest point in 2020 at 556.1 million US dollars, with the largest annual decline of 12.6% recorded that year. In 2021, imports rebounded to 645.5 million US dollars, representing a substantial 16.1% increase compared to the previous year. From 2018 to 2021, overall import values decreased by 7.8%, averaging an annual decline of 2.7%.

Annual dynamics of product's imports to Portugal in value, 2018-2021, M $ US

Throughout the 2018-2021 period, Spain, the Netherlands, and Poland consistently formed the core of Portugal's beef and buffalo meat imports in value terms. Spain accounted for 55.6% of import value, followed by the Netherlands at 19.3% and Poland at 6.4%. Together, these three suppliers represented 81.3% of Portugal's total beef and buffalo meat import value.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Portugal in value, 2018-2021