U.S. - Millet - Market Analysis, Forecast, Size, Trends and Insights
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View PricingMillet Price in the United States - 2023
Contents:
- Millet Price in the United States (FOB) - 2022
- Millet Price in the United States (CIF) - 2023
- Millet Exports in the United States
- Millet Imports in the United States
Millet Price in the United States (FOB) - 2022
In 2022, the average millet export price amounted to $599 per ton, reducing by -10.1% against the previous year. In general, export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, millet export price increased by +89.4% against 2017 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 44%. As a result, the export price attained the peak level of $666 per ton, and then shrank in the following year.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($796 per ton), while the average price for exports to Guatemala ($394 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 South Korea (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.
Millet Price in the United States (CIF) - 2023
The average millet import price stood at $1,126 per ton in August 2023, waning by -26.8% against the previous month. Overall, the import price continues to indicate a noticeable descent. The pace of growth appeared the most rapid in May 2023 an increase of 22% against the previous month. Over the period under review, average import prices reached the maximum at $1,667 per ton in August 2022; however, from September 2022 to August 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was India ($2,789 per ton), while the price for Djibouti ($600 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by India (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Millet Exports in the United States
In 2022, after two years of decline, there was significant growth in shipments abroad of millet, when their volume increased by 32% to 56K tons. Overall, exports, however, saw a precipitous shrinkage.
In value terms, millet exports skyrocketed to $33M in 2022. In general, exports, however, recorded a abrupt curtailment.
| Export of Millet in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 32.0 | 25.0 | 15.4 | 15.2 | -22.0% |
| Canada | 6.4 | 6.2 | 3.9 | 6.0 | -2.1% |
| Philippines | 2.6 | 3.1 | 0.7 | 3.5 | 10.4% |
| Mexico | 1.9 | 2.0 | 4.0 | 2.3 | 6.6% |
| Malaysia | 2.4 | 2.3 | 1.2 | 2.3 | -1.4% |
| South Korea | 1.2 | 1.2 | 0.4 | 0.8 | -12.6% |
| Japan | 1.4 | 1.0 | 0.4 | 0.5 | -29.1% |
| Guatemala | 0.4 | 0.2 | 0.2 | 0.3 | -9.1% |
| Thailand | 1.3 | 0.8 | 0.1 | 0.2 | -46.4% |
| Others | 9.1 | 4.5 | 1.8 | 2.3 | -36.8% |
| Total | 58.7 | 46.2 | 28.1 | 33.4 | -17.1% |
Top Export Markets for Millet from the United States in 2022:
- Indonesia (25.1K tons)
- Canada (10.7K tons)
- Philippines (5.7K tons)
- Mexico (3.8K tons)
- Malaysia (3.8K tons)
- South Korea (1.0K tons)
- Guatemala (0.8K tons)
- Japan (0.8K tons)
- Thailand (0.3K tons)
Millet Imports in the United States
After three years of growth, purchases abroad of millet decreased by -83.6% to 2.8K tons in 2022. Overall, imports, however, posted a buoyant expansion. The pace of growth was the most pronounced in 2021 with an increase of 437%. As a result, imports reached the peak of 17K tons, and then shrank significantly in the following year.
In value terms, millet imports reduced sharply to $3.8M in 2022. In general, imports, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2021 with an increase of 233% against the previous year. As a result, imports reached the peak of $12M, and then fell markedly in the following year.
| Import of Millet in the United States (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 419 | 851 | 776 | 845 | 26.3% |
| Canada | 182 | 728 | 3,051 | 832 | 66.0% |
| France | 389 | 460 | 961 | 652 | 18.8% |
| South Africa | 233 | 324 | 642 | 577 | 35.3% |
| India | 1,443 | 196 | 1,056 | 426 | -33.4% |
| Russia | 61.7 | 110 | 40.5 | 96.8 | 16.2% |
| Haiti | 197 | 78.1 | 23.4 | 50.1 | -36.6% |
| Ukraine | N/A | N/A | 2,898 | 18.3 | -99.4% |
| Turkey | N/A | N/A | 622 | 13.1 | -97.9% |
| Others | 334 | 708 | 1,435 | 267 | -7.2% |
| Total | 3,258 | 3,456 | 11,504 | 3,776 | 5.0% |
Top Suppliers of Millet to the United States in 2022:
- Canada (940.6 tons)
- China (515.3 tons)
- France (455.1 tons)
- South Africa (333.4 tons)
- India (227.8 tons)
- Russia (53.9 tons)
- Haiti (47.8 tons)
- Turkey (41.3 tons)
- Ukraine (35.2 tons)
This report provides an in-depth analysis of the millet 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 2030.
Product coverage:
- FCL 79 - Millet
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:
- 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
-
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
-
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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1186
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