Bangladesh: Millet Market 2024

Millet Market Size in Bangladesh

In 2022, the Bangladeshi millet market increased by X% to $X, rising for the fourth consecutive year after two years of decline. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Millet Production in Bangladesh

In value terms, millet production contracted modestly to $X in 2022 estimated in export price. In general, production recorded a prominent increase. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

The average yield of millet in Bangladesh fell modestly to X tons per ha in 2022, almost unchanged from the previous year's figure. In general, the yield, however, continues to indicate a buoyant increase. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The millet yield peaked at X tons per ha in 2016; however, from 2017 to 2022, the yield failed to regain momentum. 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 Bangladesh was estimated at X ha, leveling off at 2021. Over the period under review, the harvested area, however, faced a abrupt descent. The growth pace was the most rapid in 2019 with an increase of X%. The millet harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

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Millet Exports

Exports from Bangladesh

Millet exports from Bangladesh reduced sharply to X kg in 2020, with a decrease of X% compared with the previous year's figure. In general, exports faced a precipitous shrinkage. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2020, the exports stood at a somewhat lower figure.

In value terms, millet exports contracted notably to $X in 2020. Over the period under review, exports faced a precipitous shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2020, the exports remained at a lower figure.

Exports by Country

Canada (X kg) was the main destination for millet exports from Bangladesh, accounting for a approx. X% share of total exports.

From 2016 to 2020, the average annual growth rate of volume to Canada amounted to X%.

In value terms, Canada ($X) emerged as the key foreign market for millet exports from Bangladesh.

From 2016 to 2020, the average annual rate of growth in terms of value to Canada stood at X%.

Export Prices by Country

In 2020, the average millet export price amounted to $X per ton, with a decrease of X% against the previous year. In general, the export price faced a abrupt decline. The pace of growth appeared the most rapid in 2018 an increase of X%. The export price peaked at $X per ton in 2016; however, from 2017 to 2020, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Canada.

From 2016 to 2020, the rate of growth in terms of prices for Canada amounted to X% per year.

Millet Imports

Imports into Bangladesh

In 2022, the amount of millet imported into Bangladesh rose rapidly to X tons, growing by X% on the previous year. Over the period under review, imports recorded a significant increase. The pace of growth was the most pronounced in 2020 with an increase of X%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, millet imports surged to $X in 2022. Overall, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, India (X tons) was the main supplier of millet to Bangladesh, with a X% share of total imports. It was followed by the United States (X tons), with a X% share of total imports. Ukraine (X tons) ranked third in terms of total imports with a X% share.

From 2013 to 2022, the average annual rate of growth in terms of volume from India totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Ukraine (X% per year).

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

From 2013 to 2022, the average annual growth rate of value from India stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Ukraine (X% per year).

Import Prices by Country

The average millet import price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the import price, however, showed a deep reduction. The pace of growth appeared the most rapid in 2018 an increase of X%. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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