The modest growth in the agricultural sector, increase in number of farmers due to financial and training support by the government, increase in demand for Portuguese grape wine and olive along with growing popularity of organic farming in the country have been the key factors supporting growth in Portugal Seed Market.
Majority of the demand in the Portuguese seed market is from wheat, maize, rice, olive, grapes, triticale, legumes, flowers, vegetables and forage seeds. Demand for open pollinated seeds was the highest, followed by hybrid and genetically modified seeds. The key growth drivers of the seed market have been the financial support under the “Common Agricultural Policy (CAP)”, Portuguese government’s support for capacity building and training of young farmers and rural development programmes which have led to setting up of thousands of new farmers and other jobs in the agricultural sector. This facelift of the agriculture sector in the country has directly and positively affected the seed market in the country.
Portugal’s economy witnessed debt crises during 2010-2014, but surprisingly the agriculture sector saw a modest and quick revival after the crises. The “Common Agricultural Policy (CAP)” of the European government has made available EUR 4 billion in the form of direct payments for Portuguese farmers. The revival of the agricultural sector along with growing popularity of organic farming and increasing demand for Portuguese grape wine and olives have augment the growth of the seed market in Portugal.
The report titled “Portugal Seed Market by (Open Pollinated and Hybrid Seeds), by Crop Type (Wheat, Maize, Rice, Olive, Grapes, Triticale, Legumes, Flowers and Forage Seeds) – Outlook to 2022” by Ken Research suggested a growth at a positive CAGR in revenues in Portugal seed market due to growth of agriculture sector, increasing popularity of organic farming and rise in demand for Portuguese grape wine and olives in next 5 years till 2022.
For more information on the research report, refer to below link:
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Ankur Gupta, Head Marketing