The global mustard oil market is evaluated at US$26.090 billion for the year 2020, which is projected to expand at a CAGR of 3.74%, to reach US$33.737 billion in 2027. Mustard oil is an oil type extracted from mustard seeds. Mustard oil is dominantly used in the food and beverage industry, and pharmaceuticals.
Which country exports the most mustard oil?
Europe is the second-largest market for mustard oil in terms of volume. FAO (Food and Agriculture Organization of the United Nations) reports state Canada is exporting about 33.42% of mustard seeds in the global export index, making it the top country exporting mustard seeds.
Did a US-owned oil company find oil in Guinea?
A U.S.-owned firm conducted oil exploration studies off Guinea’s coast. In February 2012, their first exploratory well uncovered oil of a non-commercial quality. In September 2017, their second exploratory offshore drilling reportedly did not find commercially exploitable quantities of oil.
What is mustard oil?
Mustard oil is an oil type extracted from mustard seeds. Mustard oil is dominantly used in the food and beverage industry, and pharmaceuticals. The market for mustard oil has shown significant growth in the global market. The replacement of sunflower and other oils with mustard oil accounts for this growth.