ASEAN: Mustard Seed Market 2024

Mustard Seed Market Size in ASEAN

The ASEAN mustard seed market declined modestly to $X in 2022, standing approx. at the previous year. In general, consumption continues to indicate a pronounced downturn. The pace of growth was the most pronounced in 2016 when the market value increased by X%. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Mustard Seed Production in ASEAN

In value terms, mustard seed production shrank slightly to $X in 2022 estimated in export price. In general, production, however, faced a drastic downturn. The growth pace was the most rapid in 2018 with an increase of X%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

The country with the largest volume of mustard seed production was Myanmar (X tons), accounting for X% of total volume. It was followed by Indonesia (X tons), with a X% share of total production.

In Myanmar, mustard seed production plunged by an average annual rate of X% over the period from 2012-2022.

The average mustard seed yield shrank slightly to X kg per ha in 2022, stabilizing at the year before. Overall, the yield, however, recorded a slight increase. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the mustard seed yield reached the peak level at X kg per ha in 2021, and then dropped modestly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of mustard seed were harvested in ASEAN; picking up by X% on the year before. Over the period under review, the harvested area, however, recorded a noticeable downturn. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

Mustard Seed Exports

Exports in ASEAN

In 2022, shipments abroad of mustard seed increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports showed a notable increase. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, mustard seed exports soared to $X in 2022. In general, exports recorded mild growth. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Myanmar represented the key exporter of mustard seed in ASEAN, with the volume of exports finishing at X tons, which was near X% of total exports in 2022. Singapore (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (X%).

From 2012 to 2022, average annual rates of growth with regard to mustard seed exports from Myanmar stood at X%. At the same time, Vietnam (X%) and Singapore (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. Vietnam (X p.p.) and Singapore (X p.p.) significantly strengthened its position in terms of the total exports, while Myanmar saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Myanmar ($X), Vietnam ($X) and Singapore ($X) were the countries with the highest levels of exports in 2022, together comprising X% of total exports.

Among the main exporting countries, Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, declining by X% against the previous year. Over the period under review, the export price showed a perceptible reduction. The pace of growth was the most pronounced in 2021 an increase of X%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced a decline in the export price figures.

Mustard Seed Imports

Imports in ASEAN

Mustard seed imports declined significantly to X tons in 2022, which is down by X% on the previous year's figure. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, mustard seed imports contracted to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Thailand (X tons) was the main importer of mustard seed, constituting X% of total imports. It was distantly followed by Malaysia (X tons), the Philippines (X tons) and Singapore (X tons), together mixing up a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to mustard seed imports into Thailand stood at X%. At the same time, Malaysia (X%), the Philippines (X%) and Singapore (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. While the share of Malaysia (X p.p.), the Philippines (X p.p.) and Singapore (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Thailand (X p.p.) displayed negative dynamics.

In value terms, Thailand ($X) constitutes the largest market for imported mustard seed in ASEAN, comprising X% of total imports. The second position in the ranking was taken by the Philippines ($X), with an X% share of total imports. It was followed by Malaysia, with an X% share.

From 2012 to 2022, the average annual growth rate of value in Thailand totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: the Philippines (X% per year) and Malaysia (X% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, surging by X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Philippines ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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