Australia: Prepared Mustard Market 2024

Prepared Mustard Market Size in Australia

The Australian prepared mustard market declined to $X in 2021, shrinking by -7.1% against the previous year. In general, consumption, however, posted a strong expansion. Over the period under review, the market hit record highs at $X in 2020, and then shrank in the following year.

Prepared Mustard Production in Australia

In value terms, prepared mustard production contracted to $X in 2021 estimated in export price. Overall, production, however, recorded a buoyant increase. The pace of growth was the most pronounced in 2018 when the production volume increased by 79%. Prepared mustard production peaked at $X in 2020, and then contracted in the following year.

Prepared Mustard Exports

Exports from Australia

Prepared mustard exports from Australia amounted to X tons in 2021, increasing by 12% on the year before. Overall, exports, however, recorded a slight descent. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, prepared mustard exports skyrocketed to $X in 2021. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 37% against the previous year. The exports peaked in 2021 and are likely to continue growth in years to come.

Exports by Country

New Zealand (X tons) was the main destination for prepared mustard exports from Australia, accounting for a 64% share of total exports. Moreover, prepared mustard exports to New Zealand exceeded the volume sent to the second major destination, China (X tons), fourfold. Singapore (X tons) ranked third in terms of total exports with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to New Zealand amounted to -1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+13.1% per year) and Singapore (-7.3% per year).

In value terms, New Zealand ($X), China ($X) and Singapore ($X) constituted the largest markets for prepared mustard exported from Australia worldwide, together accounting for 78% of total exports. Japan and Malaysia lagged somewhat behind, together comprising a further 17%.

Japan, with a CAGR of +18.1%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average prepared mustard export price amounted to $X per ton, growing by 10% against the previous year. Over the period under review, export price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, prepared mustard export price decreased by -2.7% against 2018 indices. The growth pace was the most rapid in 2018 an increase of 64% against the previous year. As a result, the export price reached the peak level of $X per ton; afterwards, it flattened through to 2021.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to New Zealand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+12.3%), while the prices for the other major destinations experienced more modest paces of growth.

Prepared Mustard Imports

Imports into Australia

In 2021, the amount of prepared mustard imported into Australia fell modestly to X tons, with a decrease of -3.1% on the previous year's figure. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 26%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, prepared mustard imports reached $X in 2021. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 12%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, France (X tons) constituted the largest prepared mustard supplier to Australia, with a 42% share of total imports. Moreover, prepared mustard imports from France exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was held by Canada (X tons), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from France amounted to +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+3.9% per year) and Canada (+2.2% per year).

In value terms, France ($X) constituted the largest supplier of prepared mustard to Australia, comprising 58% of total imports. The second position in the ranking was held by the United States ($X), with a 14% share of total imports. It was followed by Canada, with a 9% share.

From 2012 to 2021, the average annual growth rate of value from France was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+12.6% per year) and Canada (+3.5% per year).

Import Prices by Country

In 2021, the average prepared mustard import price amounted to $X per ton, increasing by 5.6% against the previous year. In general, import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, prepared mustard import price increased by +77.1% against 2015 indices. The most prominent rate of growth was recorded in 2018 an increase of 35%. The import price peaked in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+16.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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