ASEAN: Prepared Mustard Market 2024

Prepared Mustard Market Size in ASEAN

The ASEAN prepared mustard market expanded to $X in 2023, increasing by X% against the previous year. The total consumption indicated a prominent increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Prepared Mustard Production in ASEAN

In value terms, prepared mustard production reached $X in 2023 estimated in export price. The total production indicated buoyant growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2014 with an increase of X%. The level of production peaked at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Prepared Mustard Exports

Exports in ASEAN

For the third consecutive year, ASEAN recorded growth in shipments abroad of prepared mustard, which increased by X% to X tons in 2023. Over the period under review, exports saw a buoyant expansion. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. The volume of export peaked in 2023 and is likely to see steady growth in the near future.

In value terms, prepared mustard exports surged to $X in 2023. Overall, exports showed a strong increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports hit record highs in 2023 and are likely to see gradual growth in the near future.

Exports by Country

Thailand prevails in exports structure, finishing at X tons, which was near X% of total exports in 2023. It was distantly followed by the Philippines (X tons), comprising an X% share of total exports. The following exporters - Myanmar (X tons) and Indonesia (X tons) - together made up X% of total exports.

Thailand was also the fastest-growing in terms of the prepared mustard exports, with a CAGR of X% from 2012 to 2023. At the same time, Indonesia (X%), the Philippines (X%) and Myanmar (X%) displayed positive paces of growth. From 2012 to 2023, the share of Thailand and Myanmar increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest prepared mustard supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by the Philippines ($X), with an X% share of total exports. It was followed by Indonesia, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Thailand amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: the Philippines (X% per year) and Indonesia (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2023, with an increase of X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2023, the export prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced mixed trends in the export price figures.

Prepared Mustard Imports

Imports in ASEAN

In 2023, approx. X tons of prepared mustard were imported in ASEAN; leveling off at 2022. Over the period under review, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2023 and are expected to retain growth in the immediate term.

In value terms, prepared mustard imports expanded modestly to $X in 2023. In general, imports enjoyed a strong increase. The pace of growth was the most pronounced in 2022 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2023 and are likely to continue growth in the immediate term.

Imports by Country

In 2023, Thailand (X tons), distantly followed by Vietnam (X tons), the Philippines (X tons), Malaysia (X tons), Singapore (X tons) and Indonesia (X tons) represented the key importers of prepared mustard, together mixing up X% of total imports. Lao People's Democratic Republic (X tons) took a minor share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the Philippines (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Vietnam ($X) and Malaysia ($X) constituted the countries with the highest levels of imports in 2023, together comprising X% of total imports. The Philippines, Indonesia, Singapore and Lao People's Democratic Republic lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, the Philippines, with a CAGR of X%, recorded 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

In 2023, the import price in ASEAN amounted to $X per ton, approximately reflecting the previous year. Overall, the import price, however, saw a slight slump. The growth pace was the most rapid in 2020 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform