U.S. - Sorghum - Market Analysis, Forecast, Size, Trends and Insights
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U.S. - Sorghum - Market Analysis, Forecast, Size, Trends and Insights
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Article Publishing Date: Feb 4, 2022

U.S. Sorghum Prices to Climb 2% This Year After Spiking 55% in 2021

IndexBox has just published a new report: 'U.S. - Sorghum - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

In 2021, sorghum prices in the U.S. rose by 55% y/y to $5.94 per bushel or $234 per tonne. This year, prices are projected to gain 2% y/y, instigated by boosting demand from China and rising fertilizer expenditures.

The average sorghum price from U.S. farmers rose by 55% y/y to $5.94 per bushel or $234 per tonne in 2021. Boosting demand for sorghum for feed and bioethanol-synthesis usage combined with limited supply led to a price increase. Sorghum production rose by 20% y/y to 11.4M tonnes in 2021 due to expanding harvested area by 27% to 6.49M acres.

In 2022, sorghum prices in the U.S. are forecast to gain 2% y/y, driven by the rising cost of fertilizers and increasing feed grain demand from China, the leading importer of American sorghum. Actively expanding domestic animal herd, China faces the feed deficit. Supplies from the U.S. constitute approx. 89% of total China's sorghum imports.

U.S. Sorghum Exports

The volume of sorghum exported from the U.S. skyrocketed from 2.8M tonnes in 2019 to 6.6M tonnes in 2020. In value terms, sorghum supplies surged from $0.6B to $1.4B (IndexBox estimates).

China (5.6M tonnes) was the main export destination for sorghum from the U.S., accounting for 85% of total supplies. Moreover, sorghum exports to China exceeded the volume sent to the second major destination, Mexico (275K tonnes), more than tenfold.

In 2020, the volume of sorghum supplied from the U.S. to China stood fivefold. Exports to Mexico sharply decreased over the same time.

In value terms, China ($1.2B) remains the key foreign market for sorghum exports from the U.S., comprising 83% of total exports. The second position in the ranking was occupied by Mexico ($72M), with a 5.2% share of total exports.

In 2020, the average sorghum export price amounted to $211 per tonne, increasing 7.4% against the previous year. Average prices varied somewhat for the major foreign markets. In 2020, the country with the highest price was Mexico ($263 per tonne), while the average price for exports to Japan ($206 per tonne) was amongst the lowest. In 2020, the most notable growth rate in terms of prices was recorded for supplies to Mexico, while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Platform

This report provides an in-depth analysis of the sorghum market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.


Product coverage:
• FCL 83 - Sorghum
Country coverage:
• United States

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in the U.S.
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
COUNTRIES WITH TOP YIELDS
5.4
TOP EXPORTING COUNTRIES
5.5
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2021
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2021
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2021
Table 2:
Market Volume, In Physical Terms, 2007–2021
Table 3:
Market Value, 2007–2021
Table 4:
Per Capita Consumption In 2007-2021
Table 5:
Imports, In Physical Terms, By Country, 2007–2021
Table 6:
Imports, In Value Terms, By Country, 2007–2021
Table 7:
Import Prices, By Country Of Origin, 2007–2021
Table 8:
Exports, In Physical Terms, By Country, 2007–2021
Table 9:
Exports, In Value Terms, By Country, 2007–2021
Table 10:
Export Prices, By Country Of Destination, 2007–2021
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2021
Figure 2:
Market Value, 2007–2021
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2021
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2021
Figure 5:
Trade Balance, In Physical Terms, 2007-2021
Figure 6:
Trade Balance, In Value Terms, 2007-2021
Figure 7:
Per Capita Consumption, 2007-2021
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Yield And Growth
Figure 15:
Exports And Growth
Figure 16:
Export Prices And Growth
Figure 17:
Market Size And Growth
Figure 18:
Per Capita Consumption
Figure 19:
Imports And Growth
Figure 20:
Import Prices
Figure 21:
Production, In Physical Terms, 2007–2021
Figure 22:
Production, In Value Terms, 2007–2021
Figure 23:
Area Harvested, 2007–2021
Figure 24:
Yield, 2007–2021
Figure 25:
Imports, In Physical Terms, 2007–2021
Figure 26:
Imports, In Value Terms, 2007–2021
Figure 27:
Imports, In Physical Terms, By Country, 2021
Figure 28:
Imports, In Physical Terms, By Country, 2007–2021
Figure 29:
Imports, In Value Terms, By Country, 2007–2021
Figure 30:
Import Prices, By Country Of Origin, 2007–2021
Figure 31:
Exports, In Physical Terms, 2007–2021
Figure 32:
Exports, In Value Terms, 2007–2021
Figure 33:
Exports, In Physical Terms, By Country, 2021
Figure 34:
Exports, In Physical Terms, By Country, 2007–2021
Figure 35:
Exports, In Value Terms, By Country, 2007–2021
Figure 36:
Export Prices, By Country Of Destination, 2007–2021
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