Mustard seeds: high dependency on Russia
June 8, 2022 at 12:46 PM ,
Der AUDITOR
Prices to hit record
Since production only reached 50,000 mt Agriculture and Agri-Food Canada estimates this year's carry-over supplies as low as 5,000 mt, which is nearly 90% down on last year. Exports will also only range at 85,000 mt, which is 23% down on last year. Fortunately, production is set to nearly triple to 145,000 mt in 2022/2023 and total supplies will range nearly 50% higher at 157,000 mt, which will help exports to climb nominally to 90,000 mt. Canada mainly ships mustard seeds to the United States and the EU. As supplies are low, average prices will certainly hit a record this season.
In Eastern Europe, the current market situation is turbulent and wide price gaps exist. While some suppliers refuse to issue spot market prices, others are offering Sinapis Alba seeds with a 99.9% purity for EUR 2.50-2.90/kg (USD 2.68-3.10/kg) DDP Poland. The prospects for the new crop coupled with the demand situation will largely determine prices in the next few weeks.
Mustard seeds, Canada |
2020/21 |
2021/22 |
Diff. |
2021/22 |
2022/23 |
Diff. |
|
Area sown (ha) |
104,000 |
125,000 |
20.2% |
125,000 |
185,000 |
48.0% |
|
Area harvested (ha) |
101,000 |
113,000 |
11.9% |
113,000 |
179,000 |
58.4% |
|
Yields (mt/ha) |
0.98 |
0.44 |
-55.1% |
0.44 |
0.81 |
84.1% |
|
Production (mt) |
99,000 |
50,000 |
-49.5% |
50,000 |
145,000 |
190.0% |
|
Imports (mt) |
6,000 |
15,000 |
150.0% |
15,000 |
7,000 |
-53.3% |
|
Total supplies (mt) |
165,000 |
105,000 |
-36.4% |
105,000 |
157,000 |
49.5% |
|
Exports (mt) |
111,000 |
85,000 |
-23.4% |
85,000 |
90,000 |
5.9% |
|
Domestic consumption (mt) |
15,000 |
15,000 |
0.0% |
15,000 |
42,000 |
180.0% |
|
Carry-over stocks (mt) |
40,000 |
5,000 |
-87.5% |
5,000 |
25,000 |
400.0% |
|
Avg price in CAD/mt |
885 |
3,000 |
239.0% |
3,000 |
2,050 |
-31.7% |
|
Agriculture and Agri-Food Canada |
Germany largely depends on Russia
Germany heavily relies on Russia and has stepped up imports from this country by more than 66% between September and March. While shipments from Ukraine have only risen nominally by less than 6%, Canada has also stepped up shipments to Germany by almost 60%. Total shipments to Germany have risen by 55%.
Mustard seed imports, Germany in mt |
|||
Origin |
2020/21 |
2021/22 |
Diff. |
Russia |
10,439 |
17,361 |
66.3% |
Ukraine |
4,246 |
4,497 |
5.9% |
Canada |
1,733 |
2,715 |
56.7% |
Czech Republic |
391 |
842 |
115.3% |
Kazakhstan |
275 |
655 |
138.2% |
Others |
317 |
907 |
186.1% |
Total |
17,401 |
26,977 |
55.0% |
Federal Statistical Office of Germany, Sep-Mar *12075090 Mustard seeds, whether or not broken (excl. for sowing) |
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