Mexico: Prepared Mustard Market 2024

Prepared Mustard Market Size in Mexico

In 2021, after three years of growth, there was decline in the Mexican prepared mustard market, when its value decreased by -2.3% to $X. In general, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.4% 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 +26.5% against 2017 indices. Prepared mustard consumption peaked at $X in 2020, and then fell slightly in the following year.

Prepared Mustard Production in Mexico

In value terms, prepared mustard production reduced to $X in 2021 estimated in export price. Over the period under review, the total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.1% 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 +27.1% against 2015 indices. The growth pace was the most rapid in 2014 with an increase of 23% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then declined slightly in the following year.

Prepared Mustard Exports

Exports from Mexico

In 2021, after two years of growth, there was significant decline in overseas shipments of prepared mustard, when their volume decreased by -53.7% to X tons. Overall, exports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2016 with an increase of 204%. The exports peaked at X tons in 2020, and then reduced dramatically in the following year.

In value terms, prepared mustard exports shrank notably to $X in 2021. In general, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 203%. The exports peaked at $X in 2020, and then contracted significantly in the following year.

Exports by Country

The United States (X tons) was the main destination for prepared mustard exports from Mexico, accounting for a 97% share of total exports. It was followed by Cuba (X tons), with a 2.4% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +18.7%.

In value terms, the United States ($X) emerged as the key foreign market for prepared mustard exports from Mexico, comprising 97% of total exports. The second position in the ranking was taken by Cuba ($X), with a 2.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +25.2%.

Export Prices by Country

In 2021, the average prepared mustard export price amounted to $X per ton, picking up by 41% against the previous year. Overall, the export price showed a resilient increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Cuba totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Paraguay (+8.1%), while the prices for the other major destinations experienced more modest paces of growth.

Prepared Mustard Imports

Imports into Mexico

Prepared mustard imports into Mexico skyrocketed to X tons in 2021, rising by 15% on 2020. Overall, imports, however, continue to indicate a perceptible curtailment. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, prepared mustard imports rose sharply to $X in 2021. Over the period under review, imports, however, continue to indicate a slight decline. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) constituted the largest prepared mustard supplier to Mexico, accounting for a 85% share of total imports. Moreover, prepared mustard imports from the United States exceeded the figures recorded by the second-largest supplier, Canada (X tons), tenfold.

From 2012 to 2021, the average annual growth rate of volume from the United States amounted to -2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-3.2% per year) and France (+7.5% per year).

In value terms, the United States ($X) constituted the largest supplier of prepared mustard to Mexico, comprising 77% of total imports. The second position in the ranking was held by France ($X), with a 12% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to -2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+5.3% per year) and Canada (-2.5% per year).

Import Prices by Country

The average prepared mustard import price stood at $X per ton in 2021, waning by -3.4% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 14% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

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 France ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :