Brazil: Millet Market Overview 2021

Millet Market Size in Brazil

In 2019, after two years of decline, there was significant growth in the Brazilian millet market, when its value increased by X% to $X. In general, consumption showed strong growth. The pace of growth was the most pronounced in 2016 with an increase of X% year-to-year. As a result, consumption attained the peak level of $X. From 2017 to 2019, the growth of the market remained at a lower figure.

Millet Exports

Exports from Brazil

For the fifth year in a row, Brazil recorded decline in shipments abroad of millet, which decreased by -X% to X kg in 2019. In general, exports saw a abrupt setback. The growth pace was the most rapid in 2014 with an increase of X% year-to-year. As a result, exports reached the peak of X tonnes. From 2015 to 2019, the growth exports remained at a lower figure.

In value terms, millet exports reached $X in 2019. Overall, exports showed a tangible increase. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. As a result, exports attained the peak of $X. From 2015 to 2019, the growth exports remained at a somewhat lower figure.

Exports by Country

South Africa (X kg) was the main destination for millet exports from Brazil, accounting for a X% share of total exports. Moreover, millet exports to South Africa exceeded the volume sent to the second major destination, Turkey (X kg), sixfold.

From 2007 to 2019, the average annual growth rate of volume to South Africa stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X% per year) and Uruguay (-X% per year).

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

From 2007 to 2019, the average annual rate of growth in terms of value to South Africa amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X% per year) and Uruguay (-X% per year).

Export Prices by Country

The average millet export price stood at $X per tonne in 2019, with an increase of X% against the previous year. Overall, the export price showed a prominent expansion. The most prominent rate of growth was recorded in 2016 an increase of X% y-o-y. Over the period under review, average export prices attained the peak figure in 2019 and is likely to continue growth in years to come.

Average prices varied noticeably for the major foreign markets. In 2019, the country with the highest price was Uruguay ($X per tonne), while the average price for exports to Turkey ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to South Africa, while the prices for the other major destinations experienced more modest paces of growth.

Millet Imports

Imports into Brazil

In 2019, supplies from abroad of millet was finally on the rise to reach X tonnes for the first time since 2016, thus ending a two-year declining trend. Overall, imports saw temperate growth. The growth pace was the most rapid in 2016 when imports increased by X% y-o-y. As a result, imports attained the peak of X tonnes. From 2017 to 2019, the growth imports remained at a somewhat lower figure.

In value terms, millet imports rose remarkably to $X in 2019. Over the period under review, imports showed buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of X% y-o-y. As a result, imports reached the peak of $X. From 2017 to 2019, the growth imports remained at a lower figure.

Imports by Country

In 2019, 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, Russia (X tonnes), fivefold. China (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume from Argentina amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+X% per year) and China (-X% per year).

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

From 2007 to 2019, 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: China (-X% per year) and Canada (+X% per year).

Import Prices by Country

The average millet import price stood at $X per tonne in 2019, rising by X% against the previous year. In general, import price indicated a tangible expansion from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, millet import price increased by +X% against 2017 indices. The growth pace was the most rapid in 2008 an increase of X% y-o-y. Over the period under review, average import prices reached the maximum at $X per tonne in 2014; however, from 2015 to 2019, import prices stood at a somewhat lower figure.

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

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for millet in the world?

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The country with the largest volume of millet consumption was India (10M tonnes), accounting for 33% of total volume. Moreover, millet consumption in India exceeded the figures recorded by the second-largest consumer, China (4.6M tonnes), twofold. The third position in this ranking was occupied by Niger (3.3M tonnes), with a 11% share.

What are the largest producers of millet in the world?

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The country with the largest volume of millet production was India (10M tonnes), comprising approx. 33% of total volume. Moreover, millet production in India exceeded the figures recorded by the second-largest producer, China (4.6M tonnes), twofold. Niger (3.3M tonnes) ranked third in terms of total production with a 11% share.

What are the leading suppliers of millet to Brazil?

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In value terms, Argentina ($967K) constituted the largest supplier of millet to Brazil, comprising 55% of total imports. The second position in the ranking was occupied by China ($256K), with a 15% share of total imports. It was followed by Canada, with a 8% share.

What are the leading importers of millet from Brazil?

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In value terms, South Africa ($2K) remains the key foreign market for millet exports from Brazil, comprising 80% of total exports. The second position in the ranking was occupied by Turkey ($323), with a 13% share of total exports.

What is the average export price for millet in Brazil?

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The average millet export price stood at $2,758 per tonne in 2019, rising by 12% against the previous year.

What is the average import price for millet in Brazil?

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The average millet import price stood at $423 per tonne in 2019, increasing by 2.7% against the previous year.