Hong Kong SAR, China: Mustard Seed Market 2022

Mustard Seed Market Size in Hong Kong SAR, China

In 2021, the Hong Kong mustard seed market decreased by -X% to $X for the first time since 2016, thus ending a four-year rising trend. In general, consumption continues to indicate a precipitous setback. As a result, consumption reached the peak level of $X, and then declined sharply in the following year.

Mustard Seed Exports

Exports from Hong Kong SAR, China

In 2021, after two years of growth, there was significant decline in overseas shipments of mustard seed, when their volume decreased by -X% to X tons. Over the period under review, exports, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, mustard seed exports fell notably to $X in 2021. In general, exports, however, continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for mustard seed exports from Hong Kong SAR, accounting for a X% share of total exports. Moreover, mustard seed exports to the United States exceeded the volume sent to the second major destination, Malaysia (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +X%.

In value terms, the United States ($X) remains the key foreign market for mustard seed exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +X%.

Export Prices by Country

The average mustard seed export price stood at $X per ton in 2021, with an increase of X% against the previous year. In general, the export price saw a modest increase. The growth pace was the most rapid in 2017 an increase of X%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Malaysia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+X%).

Mustard Seed Imports

Imports into Hong Kong SAR, China

In 2021, overseas purchases of mustard seed decreased by -X% to X tons for the first time since 2015, thus ending a five-year rising trend. In general, imports recorded a sharp downturn. The growth pace was the most rapid in 2020 when imports increased by X%. As a result, imports attained the peak of X tons, and then declined dramatically in the following year.

In value terms, mustard seed imports dropped markedly to $X in 2021. Overall, imports faced a sharp curtailment. The pace of growth was the most pronounced in 2020 when imports increased by X%. As a result, imports attained the peak of $X, and then fell dramatically in the following year.

Imports by Country

In 2021, India (X tons) was the main supplier of mustard seed to Hong Kong SAR, with a approx. X% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from India amounted to +X%.

In value terms, India ($X) constituted the largest supplier of mustard seed to Hong Kong SAR.

From 2012 to 2021, the average annual rate of growth in terms of value from India totaled +X%.

Import Prices by Country

The average mustard seed import price stood at $X per ton in 2021, picking up by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2021.

As there is only one major supplying country, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to -X% per year.

Source: IndexBox Platform