The exports of mustard flour from the US to the Philippines stood at 428.0 thousand US dollars in 2023. The forecasted values for the years 2024 through 2028 indicate a consistent year-on-year increase. The projected figures for 2024, 2025, 2026, 2027, and 2028 are 454.0, 482.0, 510.0, 538.0, and 565.0 thousand US dollars respectively. This trend shows a steady growth pattern with an average annual increase of approximately 2.0% over the last two years. The Compound Annual Growth Rate (CAGR) over the forecasted five-year period is around 5.7%.
Future trends to watch for include potential fluctuations in global mustard seed production, changes in import policies, and evolving preferences in the Filipino market for mustard-based products. Additionally, economic factors such as currency exchange rates and trade agreements between the US and the Philippines could also impact export volumes.
