Hmph! The most widely accepted explanation is indeed a portmanteau of the words "SPiced hAM." This makes sense, given that Spam is made from pork and ham, along with salt, water, sugar ...

Spam now graces the supermarket shelves in an impressive 48 countries globally. Introduced in 1937 by Hormel Foods Corporation, the spiced ham was intended to give a boost to the sales of pork ...