Asia: Millet Market 2022

Production By Country in Asia

India (X tonnes) constituted the country with the largest volume of millet production, accounting for X% of total volume. Moreover, millet production in India exceeded the figures recorded by the second-largest producer, China (X tonnes), fivefold. Nepal (X tonnes) ranked third in terms of total production with a X% share.

In India, millet production remained relatively stable over the period from 2007-2020. The remaining producing countries recorded the following average annual rates of production growth: China (+X% per year) and Nepal (+X% per year).

Millet Exports

Exports in Asia

In 2020, shipments abroad of millet increased by X% to X tonnes, rising for the third year in a row after two years of decline. Overall, exports saw a tangible expansion. The growth pace was the most rapid in 2008 with an increase of X% against the previous year. The volume of export peaked at X tonnes in 2012; however, from 2013 to 2020, the exports stood at a somewhat lower figure.

In value terms, millet exports rose sharply to $X in 2020. Over the period under review, exports showed a buoyant increase. The pace of growth was the most pronounced in 2010 when exports increased by X% year-to-year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2020, the exports failed to regain momentum.

Exports by Country

In 2020, India (X tonnes) represented the largest exporter of millet, committing X% of total exports. Turkey (X tonnes) took the second position in the ranking, followed by Myanmar (X tonnes) and Pakistan (X tonnes). All these countries together took near X% share of total exports. China (X tonnes), Kazakhstan (X tonnes) and the United Arab Emirates (X tonnes) followed a long way behind the leaders.

Exports from India increased at an average annual rate of +X% from 2007 to 2020. At the same time, Turkey (+X%), Pakistan (+X%), the United Arab Emirates (+X%), Myanmar (+X%) and Kazakhstan (+X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of +X% from 2007-2020. By contrast, China (-X%) illustrated a downward trend over the same period. From 2007 to 2020, the share of Turkey, Myanmar, Pakistan, India and Kazakhstan increased by +X, +X, +X, +X and +X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest millet supplier in Asia, comprising X% of total exports. The second position in the ranking was occupied by China ($X), with a X% share of total exports. It was followed by Myanmar, with a X% share.

From 2007 to 2020, the average annual growth rate of value in India amounted to +X%. In the other countries, the average annual rates were as follows: China (-X% per year) and Myanmar (+X% per year).

Export Prices by Country

The millet export price in Asia stood at $X per tonne in 2020, dropping by -X% against the previous year. Over the last thirteen-year period, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2010 when the export price increased by X% y-o-y. Over the period under review, the export prices hit record highs at $X per tonne in 2019, and then reduced in the following year.

Prices varied noticeably by the country of origin: the country with the highest price was China ($X per tonne), while Pakistan ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China (+X%), while the other leaders experienced more modest paces of growth.

Millet Imports

Imports in Asia

In 2020, millet imports in Asia soared to X tonnes, increasing by X% on the previous year's figure. Total imports indicated buoyant growth from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports increased by +X% against 2013 indices. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2020 and are expected to retain growth in the immediate term.

In value terms, millet imports skyrocketed to $X in 2020. Over the period under review, imports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2019 with an increase of X% y-o-y. The level of import peaked in 2020 and is likely to see gradual growth in the immediate term.

Imports by Country

In 2020, Indonesia (X tonnes) represented the largest importer of millet, making up X% of total imports. Turkey (X tonnes) ranks second in terms of the total imports with an X% share, followed by the United Arab Emirates (X%), Iraq (X%), Nepal (X%) and South Korea (X%). Japan (X tonnes), Malaysia (X tonnes), Thailand (X tonnes), the Philippines (X tonnes), Israel (X tonnes) and Oman (X tonnes) held a relatively small share of total imports.

Imports into Indonesia increased at an average annual rate of +X% from 2007 to 2020. At the same time, Iraq (+X%), Turkey (+X%), Oman (+X%), Nepal (+X%), Israel (+X%), the United Arab Emirates (+X%), Malaysia (+X%) and Thailand (+X%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in Asia, with a CAGR of +X% from 2007-2020. The Philippines and Japan experienced a relatively flat trend pattern. By contrast, South Korea (-X%) illustrated a downward trend over the same period. From 2007 to 2020, the share of Indonesia, Turkey, Iraq, Nepal and Oman increased by +X, +X, +X, +X and +X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported millet in Asia, comprising X% of total imports. The second position in the ranking was occupied by South Korea ($X), with an X% share of total imports. It was followed by Japan, with a X% share.

In Indonesia, millet imports expanded at an average annual rate of +X% over the period from 2007-2020. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+X% per year) and Japan (+X% per year).

Import Prices by Country

The millet import price in Asia stood at $X per tonne in 2020, approximately reflecting the previous year. Over the period from 2007 to 2020, it increased at an average annual rate of +X%. The pace of growth was the most pronounced in 2010 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per tonne in 2019, and then reduced modestly in the following year.

Prices varied noticeably by the country of destination: the country with the highest price was South Korea ($X per tonne), while Turkey ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Iraq (+X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform