South Africa - Millet - Market Analysis, Forecast, Size, Trends and Insights
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View PricingMillet Price in South Africa - 2023
Contents:
- Millet Price in South Africa (CIF) - 2023
- Millet Price in South Africa (FOB) - 2022
- Millet Imports in South Africa
- Millet Exports in South Africa
Millet Price in South Africa (CIF) - 2023
The average millet import price stood at $509 per ton in July 2023, growing by 40% against the previous month. Overall, import price indicated slight growth from July 2022 to July 2023: its price increased at an average monthly rate of +1.6% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on July 2023 figures, millet import price increased by +40.4% against June 2023 indices. The growth pace was the most rapid in October 2022 an increase of 91% against the previous month. Over the period under review, average import prices reached the maximum at $708 per ton in December 2022; however, from January 2023 to July 2023, import prices stood at a somewhat lower figure.
Average prices varied somewhat amongst the major supplying countries. In July 2023, the highest price was recorded for prices from Russia ($562 per ton) and Ukraine ($512 per ton), while the price for India ($444 per ton) and Latvia ($501 per ton) were amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Romania (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Millet Price in South Africa (FOB) - 2022
The average millet export price stood at $1,011 per ton in 2022, waning by -9.3% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 110%. Over the period under review, the average export prices hit record highs at $2,028 per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Greece ($1,571 per ton), while the average price for exports to Canada ($460 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+2.3%), while the prices for the other major destinations experienced a decline.
Millet Imports in South Africa
In 2022, imports of millet into South Africa contracted sharply to 8.5K tons, reducing by -15.4% on 2021. In general, imports continue to indicate a slight reduction. The most prominent rate of growth was recorded in 2021 with an increase of 24% against the previous year. As a result, imports reached the peak of 10K tons, and then fell markedly in the following year.
In value terms, millet imports skyrocketed to $4.1M in 2022. The total import value increased at an average annual rate of +2.7% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Millet in South Africa (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Russia | 450 | 752 | 64.8 | 1,435 | 47.2% |
| India | 817 | 509 | 518 | 1,361 | 18.5% |
| Ukraine | 1,394 | 1,424 | 2,289 | 731 | -19.4% |
| Romania | N/A | N/A | N/A | 195 | 0% |
| Zimbabwe | 67.0 | N/A | 23.6 | 174 | 37.5% |
| Botswana | N/A | N/A | N/A | 44.5 | 0% |
| Brazil | 458 | N/A | N/A | N/A | 0% |
| Others | 576 | 260 | 337 | 138 | -37.9% |
| Total | 3,762 | 2,945 | 3,232 | 4,079 | 2.7% |
Top Suppliers of Millet to South Africa in 2022:
- Brazil (undefinedK tons)
- Russia (3.5K tons)
- Ukraine (1.9K tons)
- India (1.7K tons)
- Zimbabwe (0.7K tons)
- Romania (0.4K tons)
- Botswana (0.2K tons)
Millet Exports in South Africa
In 2022, approx. 707 tons of millet were exported from South Africa; rising by 23% compared with the previous year. The total export volume increased at an average annual rate of +14.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 24%. The exports peaked in 2022 and are likely to see steady growth in the near future.
In value terms, millet exports rose significantly to $715K in 2022. Over the period under review, exports saw significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 57% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.
| Export of Millet in South Africa (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Angola | N/A | 32.1 | 0.2 | 332 | 221.6% |
| Nigeria | N/A | N/A | N/A | 106 | 0% |
| Italy | 101 | 31.1 | 77.4 | 95.2 | -2.0% |
| Namibia | 130 | 121 | 125 | 57.9 | -23.6% |
| Greece | N/A | N/A | N/A | 31.7 | 0% |
| China | N/A | N/A | N/A | 26.0 | 0% |
| Canada | 86.2 | 143 | 81.0 | 22.1 | -36.5% |
| Madagascar | N/A | N/A | 49.8 | 17.4 | -65.1% |
| Uganda | N/A | N/A | 268 | N/A | 0% |
| United States | N/A | 34.7 | N/A | N/A | 0% |
| Others | 49.0 | 44.6 | 37.6 | 27.1 | -17.9% |
| Total | 367 | 406 | 639 | 715 | 24.9% |
Top Export Markets for Millet from South Africa in 2022:
- Angola (334.9 tons)
- Nigeria (95.2 tons)
- Namibia (86.8 tons)
- Italy (62.9 tons)
- Canada (48.0 tons)
- China (24.0 tons)
- Greece (20.2 tons)
- Madagascar (19.1 tons)
This report provides an in-depth analysis of the millet market in South Africa. 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 2030.
Product coverage:
- FCL 79 - Millet
Country coverage:
- South Africa
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in South Africa
- 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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
-
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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