According to FIPA (Federation of Portuguese Agri-food Industries), this is the first decrease in value recorded in the last decade, driven almost exclusively by a correction in international olive oil prices.
After years of sharp increases due to drought in the Mediterranean region, the price of “liquid gold” stabilised, which had a direct impact on turnover statistics, although the volume of exports continued to grow.
Jorge Tomás Henriques, president of FIPA, emphasises that this decrease does not reflect a loss of market share, but rather a value adjustment.
In fact, in terms of quantities, the sector registered significant growth in several areas, with the volume of olive oil exported increasing by 10%.
However, the leader warns that the strategic objective of reaching 10 billion euros in exports by 2030 is at risk unless domestic competitiveness is strengthened and support for the internationalisation of Portuguese brands is more effective.
Given this scenario, FIPA is calling on the Government to implement urgent measures, such as revising the 23% VAT on certain food products and reducing fixed costs, particularly in energy. The federation also advocates for a more aggressive approach from AICEP (the Portuguese Trade and Investment Agency) and the strengthening of economic diplomacy to help national companies conquer new markets.
According to Jorge Tomás Henriques, the sector’s ability to remain competitive depends on reducing the burdens that create difficulties in relations with European partners and on continuous investment in enhancing the value of Portuguese brands.
Dining and Cooking