For the Quarter Ending September 2022
North America
The third quarter of 2022 saw a decline in the market's sentiment about Mustard Oil. Due to an abundance of mustard oil production at the beginning of the first half in response to the pricing pattern of the fourth quarter of 2021, prices were already high. Due to the prolongation of India's import tariff on vegetable oils until March 2023, prices have decreased. Due to the early harvest of the mustard crop, which resulted in a considerable supply, the price decreased in the second half compared to the first quarter. Due to the stacked supply of mustard oil that had previously been imported from Russia, the market's demand-supply balance remained stable. Due to consistent demand and an abundance of supply, prices in the USA market decreased following the quarter.
Asia Pacific
In the third quarter of 2022, the Mustard Oil market mood was deteriorating. Prices were already high due to abundant mustard oil output at the start of the first half in response to the price pattern of the fourth quarter of 2021. Prices have been reduced due to the extension of India's import tax on vegetable oils until March 2023. The price dropped in the second half compared to the first quarter due to the early harvest of the mustard crop, which produced a sizable supply. The market's demand-supply balance was stable due to the stacked supply of mustard oil that had previously been imported from Russia. Prices in the Indian market fell after the quarter as a result of the Indian government's approval of an export ban. Prices remained the same through the last month of the quarter. Prices were estimated to be approximately USD 1654/MT for Ex-Agra in September, near the end of the quarter.
Europe
The market's opinion of mustard oil decreased in the third quarter of 2022. Prices were already high as a result of a surplus of mustard oil output at the start of the first half in response to the pricing pattern of the fourth quarter of 2021. Prices have decreased as a result of India's import duty on vegetable oils being extended until March 2023. The price dropped in the second half compared to the first quarter as a result of the early harvest of the mustard crop, which produced a considerable supply. The market's demand-supply balance remained consistent as a result of the stacked supply of mustard oil that had previously been imported from Russia. The prices were fluctuating as a result of the evolving mixed market sentiments. Prices in the European market fell after the quarter as a result of constant demand and a surplus of supply.
For the Quarter Ending June 2022
North America
Due to the conflicting market attitudes, mustard prices in North America fluctuated throughout the second quarter of 2022. Due to the turbulent year of low crop yields following weeks of dry weather, prices rose in the first half of the quarter. Farmers and agricultural organizations claim that supply constraints and inflation brought on by the pandemic are driving up the cost of their inputs. Due to some product price stability in the second half of the quarter, prices stabilized. The offtakes were on a declining trend, which caused the prices to drop. Due to the shifting market attitudes, the prices were moving.
Asia Pacific
Market sentiments for mustard oil were mixed in the first quarter of 2022. Due to slow mustard oil production at the beginning of the first half in response to the price trend of the final quarter of 2021, prices were already high. Due to the early harvest of the mustard crop, which resulted in a significant supply, the price declined in the second half compared to the previous quarter. Due to the stacked supply of the mustard oil that had previously been imported from Russia, the demand-supply side of the market was also regular. Due to the Indian government's approval of an export prohibition, prices in the Indian market declined after the quarter.
Europe
In Europe, the price of Mustard fluctuated throughout the Q2 of 2022, owing to the mixed market sentiments. Prices increased during the first half of the quarter due to the unsettling year of low crop yields following weeks of dry weather. Farmers and agricultural organizations assert that the pandemic-related supply restrictions and inflation are pushing up the price of their inputs. Prices stabilized because of stability in the edible oil market in the second half of the quarter. Prices fell due to the trending decline in offtakes from the downstream industries. The prices were fluctuating as a result of the evolving mixed market sentiments.
For the Quarter Ending March 2022
North America
In the first quarter of 2022, the market for Mustard oil fell gradually with an increase in production rate among the major producers in Canada. In Q1 2022, the harvesting of mustard oil subdued the operating cost, which slowed the prices for regional and overseas suppliers. However, falling mustard oil prices had little impact on other cooking oils, namely sunflower oil and palm oil. Export from Canada to China and US remained tepid with moderately operating trading activities. Towards the second half of the first quarter, the prices ramped up with healthy demand in the domestic market and rising geopolitical tension between Russia and Ukraine.
Asia Pacific
In the first quarter of 2022, the market of Mustard oil experienced mixed market sentiments. At the onset of the first half, the prices were already high due to sluggish production of mustard oil following the price trajectory of the last quarter of 2021. Later, in the second half, the price slipped as compared to the previous quarter owing to the early harvest of the mustard crop in mid-February, leading to sufficient supply. Also, the demand supply side of the market was normal owing to the stacked supply of the mustard oil previously imported from Russia. Toward the end of Q1 2022, the prices of Mustard oil were recorded to be INR 142500/ton (India).
Europe
In the first quarter of 2022, the market prices of mustard oil were hovering on the upper side. At the onset of the first half of Q1, the prices increased as the demand side exceeded the supply due to the resurgence of pandemic affecting the trade market and labor crisis. Unfavorable weather and restricted transportation led to increased freight charges, consequently increasing the market price of Mustard oil. At the beginning of the second half, the prices increased due to the Russia Ukraine conflict. The war crisis led to increased crude oil prices due to a supply crunch in the market following the increase in edible oil prices. Towards the end of Q1, the prices were recorded to be USD 1765/ton (Germany).
