Singapore: Mustard Seed Market 2024

Mustard Seed Market Size in Singapore

In 2022, the Singaporean mustard seed market decreased by X% to $X for the first time since 2017, thus ending a four-year rising trend. Overall, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2021, and then contracted in the following year.

Mustard Seed Exports

Exports from Singapore

In 2022, shipments abroad of mustard seed decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, enjoyed a remarkable increase. The growth pace was the most rapid in 2013 when exports increased by X%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, mustard seed exports stood at $X in 2022. In general, exports, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Fiji (X tons) was the main destination for mustard seed exports from Singapore, accounting for a X% share of total exports. Moreover, mustard seed exports to Fiji exceeded the volume sent to the second major destination, South Africa (X tons), fivefold. The third position in this ranking was held by Brunei Darussalam (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Fiji totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (X% per year) and Brunei Darussalam (X% per year).

In value terms, Fiji ($X) remains the key foreign market for mustard seed exports from Singapore, comprising X% of total exports. The second position in the ranking was taken by Brunei Darussalam ($X), with an X% share of total exports. It was followed by South Africa, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Fiji amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brunei Darussalam (X% per year) and South Africa (X% per year).

Export Prices by Country

In 2022, the average mustard seed export price amounted to $X per ton, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (X%), while the prices for the other major destinations experienced more modest paces of growth.

Mustard Seed Imports

Imports into Singapore

In 2022, after two years of growth, there was significant decline in purchases abroad of mustard seed, when their volume decreased by X% to X tons. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when imports increased by X%. Imports peaked at X tons in 2021, and then fell in the following year.

In value terms, mustard seed imports contracted to $X in 2022. Overall, total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of X%. Imports peaked at $X in 2021, and then dropped in the following year.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of mustard seed to Singapore, accounting for a X% share of total imports. Moreover, mustard seed imports from India exceeded the figures recorded by the second-largest supplier, Bangladesh (X tons), more than tenfold. China (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from India stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Bangladesh (X% per year) and China (X% per year).

In value terms, India ($X) constituted the largest supplier of mustard seed to Singapore, comprising X% of total imports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value from India amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the average mustard seed import price amounted to $X per ton, falling by X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. The import price peaked at $X per ton in 2021, and then contracted slightly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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