South-Eastern Asia: Prepared Mustard Market 2024

Prepared Mustard Market Size in South-Eastern Asia

The Southeast Asian prepared mustard market shrank to $X in 2021, falling by -4% against the previous year. The total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.6% 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 decreased by -6.0% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Prepared Mustard Production in South-Eastern Asia

In value terms, prepared mustard production declined modestly to $X in 2021 estimated in export price. The total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +7.4% 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 +90.4% against 2012 indices. The most prominent rate of growth was recorded in 2014 with an increase of 31% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then shrank in the following year.

Prepared Mustard Exports

Exports in South-Eastern Asia

Prepared mustard exports surged to X tons in 2021, rising by 65% on the year before. Over the period under review, exports saw a buoyant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, prepared mustard exports surged to $X in 2021. Overall, exports saw a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Thailand represented the largest exporting country with an export of around X tons, which reached 78% of total exports. It was distantly followed by the Philippines (X tons), achieving a 13% share of total exports. Singapore (X tons) and Indonesia (X tons) held a little share of total exports.

Thailand was also the fastest-growing in terms of the prepared mustard exports, with a CAGR of +28.7% from 2012 to 2021. At the same time, Indonesia (+25.0%) and the Philippines (+6.4%) displayed positive paces of growth. By contrast, Singapore (-3.9%) illustrated a downward trend over the same period. Thailand (+49 p.p.) and Indonesia (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while the Philippines and Singapore saw its share reduced by -13.9% and -15.9% from 2012 to 2021, respectively.

In value terms, Thailand ($X) remains the largest prepared mustard supplier in South-Eastern Asia, comprising 79% of total exports. The second position in the ranking was held by the Philippines ($X), with a 9.5% share of total exports. It was followed by Singapore, with a 5.7% share.

In Thailand, prepared mustard exports increased at an average annual rate of +22.9% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: the Philippines (+7.3% per year) and Singapore (-4.3% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, with an increase of 6.3% against the previous year. Over the period under review, the export price, however, recorded a pronounced reduction. Over the period under review, the export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+14.7%), while the other leaders experienced mixed trends in the export price figures.

Prepared Mustard Imports

Imports in South-Eastern Asia

In 2021, prepared mustard imports in South-Eastern Asia expanded to X tons, increasing by 4.4% compared with the previous year. Over the period under review, imports recorded a resilient expansion. The growth pace was the most rapid in 2014 with an increase of 34%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, prepared mustard imports stood at $X in 2021. Total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +16.6% against 2015 indices. The pace of growth was the most pronounced in 2015 when imports increased by 19% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Imports by Country

In 2021, Vietnam (X tons), distantly followed by Thailand (X tons), the Philippines (X tons), Malaysia (X tons), Singapore (X tons), Indonesia (X tons) and Brunei Darussalam (X tons) represented the major importers of prepared mustard, together comprising 96% of total imports.

From 2012 to 2021, the biggest increases were recorded for Brunei Darussalam (with a CAGR of +33.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest prepared mustard importing markets in South-Eastern Asia were Vietnam ($X), Thailand ($X) and Malaysia ($X), with a combined 56% share of total imports. These countries were followed by Singapore, Indonesia, the Philippines and Brunei Darussalam, which together accounted for a further 41%.

Among the main importing countries, Brunei Darussalam, with a CAGR of +24.7%, 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 import price in South-Eastern Asia amounted to $X per ton, picking up by 1.6% against the previous year. Overall, the import price, however, recorded a slight slump. The most prominent rate of growth was recorded in 2018 an increase of 22% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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