Maize flour and cereals market in Portugal

Earlier Report Observations

The Portuguese maize flour and cereals market saw initial growth in volume, supported by the National Strategy for Promoting Cereal Production which emphasized corn's importance, and the strong presence of major industrial groups like Better Foods and Moagem Ceres ensuring steady supply. This upward trend was interrupted in 2020 when the COVID-19 pandemic caused global grain supply chain disruptions and food security concerns, contributing to a market volume contraction to 163.9 thousand tons.

Market volume recovered to 179.5 thousand tons in 2021, partly driven by investments in projects valorizing traditional Portuguese cereal varieties. However, the war in Ukraine triggered a sharp 20% rise in corn prices in early 2022, coupled with a severe drought and increased costs for energy and fertilizers, which reduced domestic cultivation and tightened supply, pulling the physical market size down to 170.7 thousand tons. Despite the lower volume, the market value rose due to this sustained price inflation.

By 2023, the market volume stabilized at 171.0 thousand tons, but its value surged to 122.2 million US dollars, reflecting persistent high input and commodity costs. Throughout the period, the market adapted to evolving EU and national food safety, packaging, and labeling regulations, while established milling companies continued to cater to growing demand for certified gluten-free products, supporting niche segments.

Production maize flour and cereals in Portugal

In kind, 2018-2021, K t

Top producers of maize flour and cereals, 2018-2021

World map of production of maize flour and cereals, 2018-2021

After a two-year decline, maize flour and cereals production in Portugal increased in 2021. The country produced 156.0 K t, marking a small uptick of 1.3% compared to the previous year. Over the period from 2018 to 2021, production decreased by 2.5%, with a compound annual growth rate of 0.8%. The lowest production level was recorded in 2020 at 154.0 K t, which also saw the largest decline of 3.5%.

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

In value, 2018-2021, K $ US

Portugal's maize flour and cereals production value increased for the second consecutive year in 2021. The output was valued at 95 187 K $ US, up by 18.7% from the previous year. Between 2018 and 2021, production value grew by 11.7%, equating to an annualized rate of 3.8%. The minimum value was recorded in 2019 at 80 052 K $ US, which also experienced the largest decline of 6.1%.

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

Exports maize flour and cereals from Portugal

Exports in kind, t

After a two-year gain, maize flour and cereals exports from Portugal declined in 2021. The country exported 27 889 t, down by 17.2% compared to the previous year. Between 2018 and 2021, exports decreased by 2.6%, with an annualized rate of 0.9%. The highest export volume was recorded in 2020 at 33 664 t, which also saw the largest increase of 13.8%.

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

From 2018 to 2021, Spain, Angola, and France were the main destinations for Portugal's maize flour and cereals exports in kind. Spain accounted for 47.2% of exports, Angola for 21.2%, and France for 7.1%. Together, these three countries represented 75.5% of total export flows.

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

In 2021, Portugal's cross-border shipments of maize flour and cereals reached 17 017 K $ US, marking a small decrease of 2.9% compared to 2020. Over the period from 2018 to 2021, exports increased by 11.6%, with a compound annual growth rate of 3.7%. The minimum value was recorded in 2019 at 14 844 K $ US, while the maximum was in 2020 at 17 524 K $ US, which also saw the largest increase of 18.1%.

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

Throughout 2018 to 2021, Spain, Angola, and France formed the core of Portugal's maize flour and cereals exports in value terms. Spain accounted for 43.3% of exports, Angola for 13.8%, and France for 11.3%. Combined, these three countries took 68.4% of total export 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 maize flour and cereals to Portugal

Imports in kind, t

Portugal imported a total of value_last_year t of maize flour and cereals in 2021, amounting to a strong uptick of 18.1% compared to 2020. Between 2018 and 2021, imports increased by 20.9%, equating to an annualized rate of 6.5%. The largest decline was recorded in 2020 at 7.5%.

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

Over the period from 2018 to 2021, Spain was the dominant market for Portugal's maize flour and cereals imports in kind, taking 88.7% of total flows. Other countries together accounted for the residual share.

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

In 2021, Portugal's volume of maize flour and cereals imports amounted to 23 868 K $ US, up by 30.5% from a year earlier. Between 2018 and 2021, imports increased by 34.7%, with an annualized rate of 10.4%. The largest decline was recorded in 2020 at 5.4%.

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

From 2018 to 2021, Spain remained the dominant partner for Portugal's maize flour and cereals imports in value terms, with a share of 76.5% of total flows. Other markets formed a long tail.

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

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