Maize market in Portugal

Earlier Report Observations

From 2018 to 2020, Portugal's maize market volume declined from 3.3 million tons to 2.4 million tons. The initially high volume in 2018 was sustained by substantial imports due to low self-sufficiency, while sown area for maize increased by 5%. In the following two years, reduced import volumes and a contraction in cultivated area—driven by lower prices and competition from other irrigated crops—contributed to the market's contraction. Supply chain disruptions from the COVID-19 pandemic further pressured import flows and market volume during this period.

The market recovered to 2.7 million tons in 2021 and peaked at nearly 3.0 million tons in 2022. This growth was fueled by the search for alternative import sources amid rising international prices and supply concerns. The war in Ukraine in 2022 led to a suspension of imports from that country, but a strategic shift to Brazilian suppliers, coupled with a 5% expansion in sown area in Portugal, supported overall volume. However, a severe drought reduced maize productivity by about 5% that same year, while domestic prices rose by 35%.

In 2023, the maize market volume fell to 2.6 million tons. Favorable weather conditions allowed for an earlier harvest and a positive production outcome, but a decrease in import volumes compared to the previous year's surge led to the overall decline in market size. Continued reliance on imports, primarily from Brazil, and lower prices than in 2022 characterized the year's adjustments.

Production maize in Portugal

In kind, 2018-2021, K t

Top producers of maize, 2018-2021

World map of production of maize, 2018-2021

In 2021, Portugal produced 752.5 thousand tons of maize, marking a strong year-over-year increase of 10.3%. Looking at the period from 2018 to 2021, production grew by 5.4%, which translates to an annualized growth rate of 1.8%. The highest production level was recorded in 2019 at 755.1 thousand tons, while the lowest was in 2020 at 682.1 thousand tons. The most significant decline occurred in 2020, with a drop of 9.7%.

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

Exports maize from Portugal

Exports in kind, K t

In 2021, maize exports from Portugal totaled 86 thousand tons, representing a contraction of 37.6% compared to the previous year. Over the 2018-2021 period, exports decreased by 64.8%, with a compound annual growth rate of -29.4%. The largest decline was recorded in 2019 at 43.8%, while the largest increase was in 2020 at 0.3%.

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

From 2018 to 2021, Spain remained the nearly exclusive buyer of maize from Portugal, accounting for 98.5% of total exports in volume terms.

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

Portugal's maize export value declined for the third consecutive year. In 2021, exports amounted to 26.5 million US dollars, reflecting a robust fall of 16.4% over the past year. Over the 2018-2021 period, export value decreased by 54.9%, with a compound annual growth rate of -23.3%.

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

During 2018-2021, maize from Portugal was supplied almost exclusively to Spain, which absorbed 92.4% of total exports in value terms.

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 to Portugal

Imports in kind, K t

After a two-year decline, maize imports into Portugal increased in 2021. Imports reached 2 080 thousand tons, marking a gradual rise of 9.5% year-over-year. Over the 2018-2021 period, imports decreased by 27.4%, with a compound annual growth rate of -10.1%. The lowest import volume was recorded in 2020 at 1 900 thousand tons, while the largest decline occurred in 2019 at 25.6%.

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

From 2018 to 2021, Ukraine (37.2% of imports in volume), Brazil (33.1% of imports in volume), and Romania (7.0% of imports in volume) consistently remained the main sources for imports, together accounting for 77.3% 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, M $ US

After a two-year decline, the value of maize imports into Portugal increased in 2021. Portugal imported 509.4 million US dollars of maize, representing a sharp gain of 34.6% compared to 2020. Between 2018 and 2021, import value decreased by 11.1%, equating to an annualized rate of -3.8%. The lowest value was recorded in 2020 at 378.6 million US dollars, while the largest decline was in 2019 at 27.7%.

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

Throughout 2018-2021, Ukraine (35.0% of imports in value), Brazil (30.8% of imports in value), and Romania (7.0% of imports in value) formed the core of imports in value terms, together taking 72.7% 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