Oman: Prepared Mustard Market 2024

Prepared Mustard Market Size in Oman

In 2021, after nine years of growth, there was decline in the Omani prepared mustard market, when its value decreased by -4.6% to $X. Overall, consumption, however, saw a buoyant expansion. Over the period under review, the market hit record highs at $X in 2020, and then fell slightly in the following year.

Prepared Mustard Production in Oman

In value terms, prepared mustard production declined to $X in 2021 estimated in export price. Overall, production, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2016 with an increase of 37% against the previous year. Prepared mustard production peaked at $X in 2020, and then reduced in the following year.

Prepared Mustard Exports

Exports from Oman

In 2021, overseas shipments of prepared mustard decreased by -1.8% to X tons for the first time since 2017, thus ending a three-year rising trend. Over the period under review, exports, however, continue to indicate a temperate increase. The growth pace was the most rapid in 2014 with an increase of 397% against the previous year. The exports peaked at X tons in 2020, and then fell modestly in the following year.

In value terms, prepared mustard exports fell markedly to $X in 2021. Overall, exports, however, showed a notable expansion. The pace of growth was the most pronounced in 2014 when exports increased by 390% against the previous year. The exports peaked at $X in 2020, and then reduced rapidly in the following year.

Exports by Country

Jordan (X tons) was the main destination for prepared mustard exports from Oman, with a 52% share of total exports. Moreover, prepared mustard exports to Jordan exceeded the volume sent to the second major destination, Saudi Arabia (X tons), threefold. Mauritius (X tons) ranked third in terms of total exports with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Jordan stood at +20.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+21.2% per year) and Mauritius (+30.8% per year).

In value terms, Jordan ($X) emerged as the key foreign market for prepared mustard exports from Oman, comprising 43% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 16% share of total exports. It was followed by Indonesia, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Jordan amounted to +23.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+0.3% per year) and Indonesia (+10.6% per year).

Export Prices by Country

The average prepared mustard export price stood at $X per ton in 2021, shrinking by -22.6% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 25% against the previous year. The export price peaked at $X per ton in 2020, and then contracted sharply in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Lebanon ($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 the United Arab Emirates (+7.2%), while the prices for the other major destinations experienced more modest paces of growth.

Prepared Mustard Imports

Imports into Oman

In 2021, overseas purchases of prepared mustard decreased by -3.2% to X tons, falling for the third year in a row after four years of growth. Overall, imports, however, enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2017 with an increase of 85%. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, prepared mustard imports totaled $X in 2021. In general, imports, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2017 when imports increased by 67% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Canada (X tons) and India (X tons) were the main suppliers of prepared mustard imports to Oman, with a combined 43% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Canada (with a CAGR of +83.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), Turkey ($X) and the United States ($X) constituted the largest prepared mustard suppliers to Oman, with a combined 32% share of total imports.

Canada, with a CAGR of +102.5%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average prepared mustard import price stood at $X per ton in 2021, with an increase of 15% against the previous year. Over the last nine years, it increased at an average annual rate of +5.2%. The most prominent rate of growth was recorded in 2013 an increase of 31%. The import price peaked in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+14.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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