Singapore: Prepared Mustard Market 2024

Prepared Mustard Market Size in Singapore

The Singaporean prepared mustard market shrank modestly to $X in 2021, leveling off at the previous year. Overall, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +56.3% against 2012 indices. Over the period under review, the market reached the peak level at $X in 2020, and then contracted modestly in the following year.

Prepared Mustard Production in Singapore

In value terms, prepared mustard production reduced slightly to $X in 2021 estimated in export price. In general, the total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +62.2% against 2012 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 24%. Prepared mustard production peaked at $X in 2020, and then shrank modestly in the following year.

Prepared Mustard Exports

Exports from Singapore

In 2021, approx. X tons of prepared mustard were exported from Singapore; rising by 218% on the previous year's figure. In general, exports, however, recorded a pronounced reduction. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, prepared mustard exports skyrocketed to $X in 2021. Over the period under review, exports, however, recorded a noticeable curtailment. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons) was the main destination for prepared mustard exports from Singapore, accounting for a 48% share of total exports. Moreover, prepared mustard exports to Malaysia exceeded the volume sent to the second major destination, Bangladesh (X tons), twofold. Sri Lanka (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Malaysia totaled -3.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+26.2% per year) and Sri Lanka (+9.3% per year).

In value terms, Malaysia ($X), Bangladesh ($X) and South Korea ($X) were the largest markets for prepared mustard exported from Singapore worldwide, together accounting for 76% of total exports. Sri Lanka, Maldives, Indonesia and New Caledonia lagged somewhat behind, together accounting for a further 17%.

In terms of the main countries of destination, New Caledonia, with a CAGR of +75.1%, recorded the highest rates of growth with regard to the value of exports, 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, with a decrease of -11.5% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 122%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to New Caledonia ($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 Indonesia (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Prepared Mustard Imports

Imports into Singapore

In 2021, imports of prepared mustard into Singapore skyrocketed to X tons, with an increase of 36% against 2020 figures. Overall, imports, however, recorded a relatively flat trend pattern. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, prepared mustard imports surged to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2013; afterwards, it flattened through to 2021.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of prepared mustard to Singapore, with a 44% share of total imports. Moreover, prepared mustard imports from the United States exceeded the figures recorded by the second-largest supplier, France (X tons), twofold. The third position in this ranking was taken by China (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+2.8% per year) and China (+27.9% per year).

In value terms, the largest prepared mustard suppliers to Singapore were the United States ($X), France ($X) and the UK ($X), with a combined 70% share of total imports. These countries were followed by China, Germany, Japan, Malaysia, the Netherlands, Sweden, Canada and India, which together accounted for a further 27%.

Among the main suppliers, China, with a CAGR of +22.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average prepared mustard import price amounted to $X per ton, which is down by -4.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2013 an increase of 22% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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 Japan ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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