Lard and poultry fats market in Portugal

Earlier Report Observations

The market volume for lard and poultry fats in Portugal declined from 41 539 t in 2018 to 39 008 t in 2020, driven by a shift in consumer preferences towards leaner poultry meat, which reduced demand for pork fat. The COVID-19 pandemic in 2020 further constrained slaughtering operations and disrupted supply chains across Europe, contributing to the drop.

From 2021 to 2023, the market continued to contract, reaching 32 597 t by 2023. Rising costs for feed ingredients like corn and soybean meal increased production expenses for pigs and poultry, squeezing supply. Simultaneously, growing exports, which rose from 4 223 t in 2018 to 8 545 t in 2023, diverted product away from the domestic market. The entry of startups developing cultured animal fat technology signals ongoing innovation in the sector.

Production lard and poultry fats in Portugal

In kind, 2018-2021, t

From 2018 to 2021, Portugal ranked 20th globally in the production of lard and poultry fats.

Top producers of lard and poultry fats, 2018-2021

World map of production of lard and poultry fats, 2018-2021

Portugal's production of lard and poultry fats declined for the second year in a row. In 2021, the country produced 41 505 tonnes, marking a slight contraction of 0.7% compared to 2020. The highest production level was recorded in 2019 at 42 672 tonnes, which represented a 1.2% increase. The largest decline occurred in 2020, with a drop of 2.1%.

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

In value, 2018-2021, K $ US

After two years of growth, Portugal's production of lard and poultry fats declined in value terms. In 2021, the output was valued at 23 017 thousand US dollars, corresponding to a significant reduction of 22.7% year-over-year. The maximum value was recorded in 2020 at 29 777 thousand US dollars, reflecting a 27.1% increase. Overall, from 2018 to 2021, production increased by 4.1%, equating to an annualized growth rate of 1.4%.

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

Exports lard and poultry fats from Portugal

Exports in kind, t

Portugal's export volume of lard and poultry fats increased for the second consecutive year. In 2021, exports totalled 7 812 tonnes, which is 69.6% higher than the previous year. The minimum value was recorded in 2019 at 3 496 tonnes, representing a 17.2% decline. Between 2018 and 2021, exports grew by 85%, equating to an annualized rate of 22.8%.

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

From 2018 to 2021, exports in kind of lard and poultry fats from Portugal were almost entirely concentrated in Spain, which accounted for 97.6% of the total.

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, K $ US

The market exhibited an unstable trend throughout the period. Volumes dropped to a minimum in 2019 and climbed to their maximum in 2021, showing a 2.3-fold shift. In 2021, Portugal's exports of lard and poultry fats totalled 4 332 thousand US dollars, which is 32.0% greater year-over-year. The minimum value was recorded in 2019 at 1 919 thousand US dollars, reflecting a 13.3% decline. The largest increase occurred in 2020, with a rise of 71.0%.

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

From 2018 to 2021, Spain effectively concentrated exports in value terms of lard and poultry fats from Portugal, with a share of 94.6% of total flows.

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

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

Imports lard and poultry fats to Portugal

Imports in kind, t

After a two-year decline, imports of lard and poultry fats into Portugal increased. In 2021, imports reached 2 507 tonnes, constituting an intense rise of 36.9% over the past year. The minimum value was recorded in 2020 at 1 831 tonnes. The largest decline occurred in 2019, with a drop of 41.1%. Over the period 2018-2021, imports decreased by 30.5%, with a compound annual growth rate of -11.4%.

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

From 2018 to 2021, the structure of imports in kind was dominated by a single market: Spain, with a share of 94.7% of total flows.

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, K $ US

The market exhibited an unstable trend throughout the timeframe. Volumes dropped to a minimum in 2019 and climbed to their maximum in 2021, showing a 2-fold shift. In 2021, Portugal imported a total of 3 071 thousand US dollars of lard and poultry fats, representing a dramatic rise of 75.7% compared to 2020. The minimum value was recorded in 2019 at 1 556 thousand US dollars, reflecting a 40.8% decline.

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

From 2018 to 2021, virtually all imports in value terms of lard and poultry fats to Portugal were associated with Spain, whose share reached 90.7% of total flows.

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

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