Eastern Asia: Millet Market 2022

Production By Country in Eastern Asia

The country with the largest volume of millet production was China (X tonnes), accounting for X% of total volume. It was followed by Democratic People's Republic of Korea (X tonnes), with a X% share of total production.

In China, millet production increased at an average annual rate of +X% over the period from 2007-2020.

Millet Exports

Exports in Eastern Asia

In 2020, overseas shipments of millet decreased by -X% to X tonnes for the first time since 2017, thus ending a two-year rising trend. Over the period under review, exports faced a abrupt decline. The most prominent rate of growth was recorded in 2012 with an increase of X% y-o-y. The volume of export peaked at X tonnes in 2007; however, from 2008 to 2020, the exports failed to regain momentum.

In value terms, millet exports amounted to $X in 2020. Overall, exports showed a mild setback. The pace of growth was the most pronounced in 2012 when exports increased by X% y-o-y. As a result, the exports reached the peak of $X. From 2013 to 2020, the growth of the exports failed to regain momentum.

Exports by Country

The biggest shipments were from China (X tonnes), together reaching X% of total export.

China was also the fastest-growing in terms of the millet exports, with a CAGR of -X% from 2007 to 2020. China (-X p.p.) significantly weakened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest millet supplier in Eastern Asia.

From 2007 to 2020, the average annual rate of growth in terms of value in China stood at -X%.

Export Prices by Country

In 2020, the millet export price in Eastern Asia amounted to $X per tonne, growing by X% against the previous year. In general, the export price showed a buoyant increase. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. The level of export peaked in 2020 and is likely to see steady growth in the immediate term.

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

From 2007 to 2020, the rate of growth in terms of prices for China amounted to +X% per year.

Millet Imports

Imports in Eastern Asia

In 2020, purchases abroad of millet increased by X% to X tonnes, rising for the second consecutive year after five years of decline. Over the period under review, imports, however, showed a slight curtailment. The most prominent rate of growth was recorded in 2008 when imports increased by X% y-o-y. As a result, imports reached the peak of X tonnes. From 2009 to 2020, the growth imports failed to regain momentum.

In value terms, millet imports skyrocketed to $X in 2020. Total imports indicated a perceptible expansion from 2007 to 2020: its value decreased 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, imports increased by +X% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2020, South Korea (X tonnes) and Japan (X tonnes) were the main importers of millet in Eastern Asia, together comprising X% of total imports. It was distantly followed by Taiwan (Chinese) (X tonnes), mixing up a X% share of total imports.

From 2007 to 2020, the biggest increases were in Taiwan (Chinese) (+X%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the largest millet importing markets in Eastern Asia were South Korea ($X), Japan ($X) and Taiwan (Chinese) ($X), together comprising X% of total imports.

Taiwan (Chinese), with a CAGR of +X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2020, the millet import price in Eastern Asia amounted to $X per tonne, rising by X% against the previous year. Import price indicated buoyant growth 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. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2020, the country with the highest price was South Korea ($X per tonne), while Taiwan (Chinese) ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by South Korea (+X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform