Australia: Millet Market 2024

Millet Market Size in Australia

In 2022, the Australian millet market decreased by X% to $X, falling for the third consecutive year after three years of growth. Overall, the total consumption indicated a tangible 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, consumption decreased by X% against 2019 indices. Millet consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Millet Production in Australia

In value terms, millet production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, saw a significant expansion. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

The average yield of millet in Australia totaled X tons per ha in 2022, leveling off at 2021 figures. Overall, the yield recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The millet yield peaked at X tons per ha in 2017; 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, approx. X ha of millet were harvested in Australia; leveling off at 2021 figures. Over the period under review, the harvested area, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to millet production attained the peak figure at X ha in 2018; however, from 2019 to 2022, the harvested area remained at a lower figure.

Millet Exports

Exports from Australia

In 2022, millet exports from Australia soared to X tons, rising by X% against the previous year's figure. Overall, exports, however, continue to indicate a deep downturn. The pace of growth was the most pronounced in 2020 with an increase of X%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, millet exports expanded to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Thailand (X tons) was the main destination for millet exports from Australia, with a X% share of total exports. Moreover, millet exports to Thailand exceeded the volume sent to the second major destination, New Zealand (X tons), threefold. Japan (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Thailand amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (X% per year) and Japan (X% per year).

In value terms, Thailand ($X), Japan ($X) and New Zealand ($X) constituted the largest markets for millet exported from Australia worldwide, with a combined X% share of total exports.

Thailand, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average millet export price amounted to $X per ton, falling by X% against the previous year. In general, the export price, however, continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The export price peaked at $X per ton in 2021, and then contracted sharply in the following year.

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 Japan ($X per ton), while the average price for exports to Indonesia ($X 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 (X%), while the prices for the other major destinations experienced more modest paces of growth.

Millet Imports

Imports into Australia

In 2022, overseas purchases of millet decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, imports, however, showed a strong increase. The most prominent rate of growth was recorded 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 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, millet imports dropped modestly to $X in 2022. Overall, imports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2014 with an increase of X%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest millet supplier to Australia, accounting for a X% share of total imports. Moreover, millet imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%.

In value terms, China ($X) constituted the largest supplier of millet to Australia, comprising X% of total imports. The second position in the ranking was taken by India ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at X%.

Import Prices by Country

The average millet import price stood at $X per ton in 2022, picking up by X% against the previous year. In general, the import price saw tangible growth. The most prominent rate of growth was recorded in 2016 an increase of X%. The import price peaked in 2022 and is likely to continue growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for India totaled $X per ton.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :