Brazil: Millet Market Overview 2021

Millet Market Size in Brazil

The Brazilian millet market was finally on the rise to reach $X in 2020, after three years of decline. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2020, consumption remained at a lower figure.

Millet Exports

Exports from Brazil

For the seventh year in a row, Brazil recorded growth in overseas shipments of millet, which increased by X% to X tonnes in 2020. In general, exports continue to indicate a significant expansion. As a result, exports attained the peak and are likely to continue growth in the immediate term.

In value terms, millet exports soared to $X in 2020. Overall, exports saw a significant expansion. As a result, exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey (X tonnes) was the main destination for millet exports from Brazil, with a X% share of total exports. Moreover, millet exports to Turkey exceeded the volume sent to the second major destination, Kuwait (X tonnes), threefold.

From 2007 to 2020, the average annual growth rate of volume to Turkey amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (X% per year) and Japan (+X% per year).

In value terms, Turkey ($X) remains the key foreign market for millet exports from Brazil, comprising X% of total exports. The second position in the ranking was occupied by Kuwait ($X), with a X% share of total exports.

From 2007 to 2020, the average annual growth rate of value to Turkey totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (X% per year) and Japan (+X% per year).

Export Prices by Country

The average millet export price stood at $X per tonne in 2020, with a decrease of -X% against the previous year. Over the period under review, the export price showed a abrupt decline. The most prominent rate of growth was recorded in 2014 when the average export price increased by X% year-to-year. The export price peaked at $X per tonne in 2017; however, from 2018 to 2020, export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2020, the country with the highest price was Turkey ($X per tonne), while the average price for exports to Kuwait ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait, while the prices for the other major destinations experienced a decline.

Millet Imports

Imports into Brazil

In 2020, supplies from abroad of millet increased by X% to X tonnes for the first time since 2016, thus ending a three-year declining trend. In general, imports showed a relatively flat trend pattern. Imports peaked at X tonnes in 2016; however, from 2017 to 2020, imports stood at a somewhat lower figure.

In value terms, millet imports skyrocketed to $X in 2020. Overall, imports recorded a perceptible increase. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2020, imports failed to regain the momentum.

Imports by Country

In 2020, Argentina (X tonnes) constituted the largest supplier of millet to Brazil, accounting for a X% share of total imports. Moreover, millet imports from Argentina exceeded the figures recorded by the second-largest supplier, Ukraine (X tonnes), more than tenfold. Bolivia (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual growth rate of volume from Argentina totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (-X% per year) and Bolivia (+X% per year).

In value terms, Argentina ($X) constituted the largest supplier of millet to Brazil, comprising X% of total imports. The second position in the ranking was occupied by Bolivia ($X), with a X% share of total imports. It was followed by Ukraine, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value from Argentina totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Bolivia (+X% per year) and Ukraine (-X% per year).

Import Prices by Country

In 2020, the average millet import price amounted to $X per tonne, shrinking by -X% against the previous year. Overall, import price indicated a moderate expansion from 2007 to 2020: its price 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, millet import price increased by +X% against 2017 indices. The pace of growth appeared the most rapid in 2008 when the average import price increased by X% year-to-year. The import price peaked at $X per tonne in 2014; however, from 2015 to 2020, import prices failed to regain the momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Bolivia ($X per tonne), while the price for Argentina ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Ukraine, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform