Asia: Millet Market 2024

Millet Market Size in Asia

The Asian millet market was estimated at $X in 2022, with an increase of X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Millet Production in Asia

In value terms, millet production expanded remarkably to $X in 2022 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

India (X tons) constituted the country with the largest volume of millet production, comprising approx. X% of total volume. Moreover, millet production in India exceeded the figures recorded by the second-largest producer, China (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume in India stood at X%. In the other countries, the average annual rates were as follows: China (X% per year) and Nepal (X% per year).

The average millet yield was estimated at X tons per ha in 2022, remaining relatively unchanged against 2021. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2017 when the yield increased by X% against the previous year. Over the period under review, the millet yield hit record highs at X tons per ha in 2020; afterwards, it flattened through to 2022. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of millet in Asia fell slightly to X ha, declining by X% on the previous year. Overall, the harvested area recorded a slight contraction. The most prominent rate of growth was recorded in 2021 when the harvested area increased by X% against the previous year. Over the period under review, the harvested area dedicated to millet production reached the peak figure at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

Millet Exports

Exports in Asia

In 2022, approx. X tons of millet were exported in Asia; with an increase of X% on 2021. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of X%. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, millet exports skyrocketed to $X in 2022. Total exports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

India represented the largest exporter of millet in Asia, with the volume of exports amounting to X tons, which was near X% of total exports in 2022. It was distantly followed by Turkey (X tons) and Uzbekistan (X tons), together creating a X% share of total exports. The following exporters - China (X tons), Kazakhstan (X tons) and Pakistan (X tons) - together made up X% of total exports.

India experienced a relatively flat trend pattern with regard to volume of exports of millet. At the same time, Turkey (X%), Pakistan (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 2012-2022. By contrast, Uzbekistan (X%) and China (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.), Uzbekistan (X p.p.), Kazakhstan (X p.p.) and Pakistan (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (X p.p.) and India (X p.p.) displayed negative dynamics.

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

From 2012 to 2022, the average annual growth rate of value in India amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Uzbekistan (X% per year) and Turkey (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2019 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (X%), while the other leaders experienced more modest paces of growth.

Millet Imports

Imports in Asia

In 2022, after three years of growth, there was decline in purchases abroad of millet, when their volume decreased by X% to X tons. Total imports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, millet imports expanded rapidly to $X in 2022. Total imports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2017 indices. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Indonesia (X tons) represented the key importer of millet, committing X% of total imports. It was distantly followed by the United Arab Emirates (X tons), Nepal (X tons), Turkey (X tons), Iraq (X tons), Thailand (X tons) and the Philippines (X tons), together generating a X% share of total imports. South Korea (X tons), Japan (X tons), Malaysia (X tons), Pakistan (X tons) and Yemen (X tons) held a minor share of total imports.

Indonesia was also the fastest-growing in terms of the millet imports, with a CAGR of X% from 2012 to 2022. At the same time, Thailand (X%), Turkey (X%), the United Arab Emirates (X%), the Philippines (X%), Iraq (X%) and Pakistan (X%) displayed positive paces of growth. Nepal, Japan and Malaysia experienced a relatively flat trend pattern. By contrast, South Korea (X%) and Yemen (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Indonesia, Turkey, the United Arab Emirates, Thailand and Iraq 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 ($X) constitutes the largest market for imported millet in Asia, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

In Indonesia, millet imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nepal (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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