Mustard seeds: prospects good for exports
October 1, 2024 at 11:59 AM ,
Der AUDITOR
Exports to rise by 16%
Agriculture and Agri-Food Canada has again revised the 2024/2025 production estimates for mustard seeds downwards in the September report. While estimates still stood at 225,000 mt in August they have now declined to 211,000 mt. Yet, it should be noted that this figure still exceeds last year's production by 23%. While domestic consumption estimates have remained firm at 43,000 mt, export estimates are more optimistic. Expectation is that epxorts will gain by 16% to 110,000 mt as compared with last year.
|
Mustard seed estimates, Canada (mt) |
|||
|
Estimate |
2023/24 |
2024/25 |
Diff. |
|
Production |
171,000 |
211,000 |
23.4% |
|
Exports |
95,000 |
110,000 |
15.8% |
|
Domestic consumption |
43,000 |
43,000 |
0.0% |
|
Total supplies |
88,000 |
155,000 |
76.1% |
|
Agriculture and Agri-Food Canada, Sep 2024 |
|||
Market gains support from farmers
Prices have now firmed in Canada after witnessing a downward trend in September. According to Rayglen Commodities this situation will persist for now. Issue is that although abundant supplies are available due to high carry-over stocks and a larger crop, most farmers are reluctant to sell.
European spot market prices for Ukrainian 99.95% Brassica Nigra mustard seeds range at EUR 910/mt EXW Poland and for Sinapis Alba seeds at EUR 770/mt EXW Poland. In Germany the DDP prices for 97% Sinapis Alba seeds range at EUR 680/mt.
|
Mustard seeds, Ukraine |
|
|
Quality |
EUR/mt |
|
Brassica Nigra, 99.95% |
910 |
|
Sinapis Alba, 99.95% |
770 |
|
EXW Poland, big bags |
|
Switch in EU imports
In the first two months of MY 2024/2025 (01 July to 22 August) total EU imports declined by 6% to 17,523 mt as compared with the same period last year. Main driver are the higher import tariffs for imports from Russia. This explains the 93% decline in mustard seed imports from the country. Contrary to this, shipments from Ukraine have risen sharply. Imports from Canada and Kazakhstan are also up.
|
EU mustard seed imports (mt) |
|||
|
Partner |
2023/24 |
2024/25 |
Diff. |
|
Ukraine |
672 |
7,637 |
1,036.5% |
|
Canada |
5,200 |
6,408 |
23.2% |
|
Kazakhstan |
372 |
2.490 |
569.4% |
|
Russia |
11,798 |
768 |
-93.5% |
|
India |
129 |
125 |
-3.1% |
|
Others |
531 |
95 |
-82.1% |
|
Total |
18,702 |
17,523 |
-6.3% |
|
DG AGRI TAXUD Customs Surveillance, provisional data, 01/07-22/09 12075090 Mustard seeds, whether or not broken (excl. for sowing) |
|||
View more
- price charts on oilseeds, grains, nuts, dried fruit, spices and more
View related articles
