Global Mustard Seed Market 2024

Mustard Seed Market Size

In 2022, the global mustard seed market increased by 12% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market hit record highs in 2022 and is likely to see steady growth in the immediate term.

Mustard Seed Production

In value terms, mustard seed production declined slightly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 22%. As a result, production reached the peak level of $X. From 2015 to 2022, global production growth remained at a lower figure.

The countries with the highest volumes of production in 2022 were Nepal (X tons), Russia (X tons) and Canada (X tons), together comprising 62% of global production. India, Myanmar, the United States, France, Uruguay, China, Ukraine, the Czech Republic and Australia lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of +664.5%), while production for the other global leaders experienced more modest paces of growth.

In 2022, the global average yield of mustard seed shrank to X tons per ha, stabilizing at the previous year's figure. The yield figure increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 19%. Over the period under review, the average mustard seed yield hit record highs at X tons per ha in 2021, and then reduced 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 worldwide; approximately equating 2021. Overall, the harvested area, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 31%. Over the period under review, the harvested area dedicated to mustard seed production reached the maximum at X ha in 2019; however, from 2020 to 2022, the harvested area remained at a lower figure.

Mustard Seed Exports

Exports

For the sixth consecutive year, the global market recorded growth in shipments abroad of mustard seed, which increased by 4.7% to X tons in 2022. The total export volume increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 13% against the previous year. Over the period under review, the global exports reached the maximum in 2022 and are likely to continue growth in the near future.

In value terms, mustard seed exports soared to $X in 2022. In general, total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +101.1% against 2016 indices. The pace of growth was the most pronounced in 2021 with an increase of 29%. The global exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Canada (X tons) and Russia (X tons) represented roughly 51% of total exports in 2022. India (X tons) ranks next in terms of the total exports with a 14% share, followed by Germany (5.7%) and the United States (5.2%). The Czech Republic (X tons), Ukraine (X tons), Poland (X tons) and Australia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Australia (with a CAGR of +56.6%), while the other global leaders experienced more modest paces of growth.

In value terms, Canada ($X) remains the largest mustard seed supplier worldwide, comprising 36% of global exports. The second position in the ranking was held by Russia ($X), with a 13% share of global exports. It was followed by India, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in Canada amounted to +4.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Russia (+19.0% per year) and India (+12.4% per year).

Export Prices by Country

In 2022, the average mustard seed export price amounted to $X per ton, growing by 21% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The pace of growth was the most pronounced in 2021 when the average export price increased by 27% against the previous year. The global export price peaked in 2022 and is likely to see steady growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+7.7%), while the other global leaders experienced more modest paces of growth.

Mustard Seed Imports

Imports

In 2022, approx. X tons of mustard seed were imported worldwide; with an increase of 10% against 2021 figures. The total import volume increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 12%. Global imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, mustard seed imports surged to $X in 2022. Overall, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +97.8% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States was the key importer of mustard seed in the world, with the volume of imports accounting for X tons, which was near 28% of total imports in 2022. It was distantly followed by Germany (X tons), France (X tons), Nepal (X tons), Bangladesh (X tons) and Poland (X tons), together achieving a 44% share of total imports. The following importers - Canada (X tons) and the Netherlands (X tons) - together made up 4.9% of total imports.

Imports into the United States increased at an average annual rate of +5.2% from 2012 to 2022. At the same time, Canada (+31.5%), Poland (+15.6%), France (+5.0%) and Bangladesh (+1.5%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in the world, with a CAGR of +31.5% from 2012-2022. Germany experienced a relatively flat trend pattern. By contrast, Nepal (-2.0%) and the Netherlands (-5.4%) illustrated a downward trend over the same period. Poland (+4.5 p.p.), the United States (+4.4 p.p.) and Canada (+2.5 p.p.) significantly strengthened its position in terms of the global imports, while Bangladesh, the Netherlands, Germany and Nepal saw its share reduced by -1.6%, -3.2%, -4.9% and -5.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X), Germany ($X) and France ($X) were the countries with the highest levels of imports in 2022, together comprising 51% of global imports. Poland, Nepal, Bangladesh, Canada and the Netherlands lagged somewhat behind, together accounting for a further 24%.

Canada, with a CAGR of +38.6%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average mustard seed import price amounted to $X per ton, rising by 23% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. 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 Netherlands ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+6.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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