Philippines: Mustard Seed Market 2022

Mustard Seed Market Size in the Philippines

The Philippine mustard seed market contracted sharply to $X in 2020, with a decrease of -X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a tangible increase. The most prominent rate of growth was recorded in 2010 when the market value increased by X% against the previous year. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2020, consumption remained at a lower figure.

Mustard Seed Exports

Exports from the Philippines

In 2020, overseas shipments of mustard seed increased by X% to X tonnes, rising for the sixth year in a row after five years of decline. In general, exports enjoyed a remarkable increase. As a result, exports reached the peak and are likely to continue growth in the immediate term.

In value terms, mustard seed exports skyrocketed to $X in 2020. Overall, exports showed a noticeable downturn. Over the period under review, exports hit record highs at $X in 2007; however, from 2008 to 2020, exports failed to regain the momentum.

Exports by Country

Kiribati (X tonnes) was the main destination for mustard seed exports from the Philippines, accounting for a approx. X% share of total exports.

From 2007 to 2020, the average annual growth rate of volume to Kiribati was relatively modest.

From 2007 to 2020, the average annual rate of growth in terms of value to Kiribati was relatively modest.

Export Prices by Country

In 2020, the average mustard seed export price amounted to $X per tonne, with a decrease of -X% against the previous year. Over the period under review, the export price recorded a abrupt decline. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. Over the period under review, average export prices hit record highs at $X per tonne in 2012; however, from 2013 to 2020, export prices failed to regain the momentum.

As there is only one major export destination, the average price level is determined by prices for Kiribati.

From 2007 to 2020, the rate of growth in terms of prices for Kiribati amounted to X% per year.

Mustard Seed Imports

Imports into the Philippines

In 2020, the amount of mustard seed imported into the Philippines dropped markedly to X tonnes, with a decrease of -X% on 2019. In general, imports, however, enjoyed moderate growth. The pace of growth was the most pronounced in 2010 with an increase of X% y-o-y. Imports peaked at X tonnes in 2014; however, from 2015 to 2020, imports remained at a lower figure.

In value terms, mustard seed imports fell notably to $X in 2020. Over the period under review, imports, however, saw a pronounced increase. The pace of growth appeared the most rapid in 2010 with an increase of X% year-to-year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2020, imports failed to regain the momentum.

Imports by Country

Canada (X tonnes), the U.S. (X tonnes) and India (X tonnes) were the main suppliers of mustard seed imports to the Philippines, together accounting for X% of total imports.

From 2007 to 2020, the biggest increases were in India, while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest mustard seed suppliers to the Philippines were Canada ($X), the U.S. ($X) and India ($X), together accounting for X% of total imports.

Among the main suppliers, India saw the highest growth rate of 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

The average mustard seed import price stood at $X per tonne in 2020, surging by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2009 when the average import price increased by X% y-o-y. As a result, import price reached the peak level of $X per tonne. from 2010 to 2020, the growth in terms of the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2020, the country with the highest price was India ($X per tonne), while the price for Canada ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Canada, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform