Bangladesh: Prepared Mustard Market 2024

Prepared Mustard Market Size in Bangladesh

After two years of growth, the Bangladeshi prepared mustard market decreased by -2.9% to $X in 2021. Over the period under review, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +10.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +66.0% against 2016 indices. Over the period under review, the market attained the peak level at $X in 2020, and then declined slightly in the following year.

Prepared Mustard Production in Bangladesh

In value terms, prepared mustard production dropped slightly to $X in 2021 estimated in export price. Overall, the total production indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +10.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +58.6% against 2016 indices. The pace of growth appeared the most rapid in 2013 with an increase of 80% against the previous year. Prepared mustard production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Prepared Mustard Exports

Exports from Bangladesh

In 2021, approx. X tons of prepared mustard were exported from Bangladesh; with an increase of 40% on the previous year's figure. Over the period under review, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 217%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, prepared mustard exports soared to $X in 2021. In general, exports posted a resilient expansion. The pace of growth appeared the most rapid in 2014 with an increase of 253%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

Saudi Arabia (X tons) was the main destination for prepared mustard exports from Bangladesh, accounting for a 42% share of total exports. Moreover, prepared mustard exports to Saudi Arabia exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), twofold. Germany (X tons) ranked third in terms of total exports with a 5.8% share.

From 2012 to 2021, the average annual growth rate of volume to Saudi Arabia stood at +5.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+10.4% per year) and Germany (+13.0% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for prepared mustard exports from Bangladesh, comprising 27% of total exports. The second position in the ranking was taken by Germany ($X), with an 11% share of total exports. It was followed by Cambodia, with a 10% share.

From 2012 to 2021, the average annual growth rate of value to Saudi Arabia amounted to +11.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+6.9% per year) and Cambodia (0.0% per year).

Export Prices by Country

In 2021, the average prepared mustard export price amounted to $X per ton, with an increase of 56% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 59%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to the United Arab Emirates ($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 Lebanon (+16.9%), while the prices for the other major destinations experienced more modest paces of growth.

Prepared Mustard Imports

Imports into Bangladesh

In 2021, approx. X tons of prepared mustard were imported into Bangladesh; picking up by 26% against 2020 figures. In general, imports showed a buoyant increase. The pace of growth was the most pronounced in 2017 with an increase of 654% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, prepared mustard imports shrank slightly to $X in 2021. Overall, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2017 with an increase of 769%. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X tons), Canada (X tons) and the UK (X tons) were the main suppliers of prepared mustard imports to Bangladesh, together comprising 52% of total imports. The United States, the Netherlands, Malta and Singapore lagged somewhat behind, together comprising a further 14%.

From 2012 to 2021, the biggest increases were recorded for Malta (with a CAGR of +24.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of prepared mustard to Bangladesh, comprising 23% of total imports. The second position in the ranking was taken by Canada ($X), with an 8.9% share of total imports. It was followed by Malta, with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates stood at +8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+2.4% per year) and Malta (+32.5% per year).

Import Prices by Country

In 2021, the average prepared mustard import price amounted to $X per ton, falling by -24.1% against the previous year. In general, the import price, however, saw a strong increase. The pace of growth appeared the most rapid in 2018 an increase of 58% against the previous year. The import price peaked at $X per ton in 2020, and then contracted significantly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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