Latin America and the Caribbean: Millet Market 2022

Production By Country in Latin America and the Caribbean

The country with the largest volume of millet production was Argentina (X tonnes), accounting for X% of total volume. It was followed by Mexico (X tonnes), with a X% share of total production.

In Argentina, millet production declined by an average annual rate of -X% over the period from 2007-2020. In the other countries, the average annual rates were as follows: Mexico (-X% per year) and Panama (+X% per year).

Millet Exports

Exports in Latin America and the Caribbean

In 2020, shipments abroad of millet increased by X% to X tonnes, rising for the second year in a row after two years of decline. In general, exports, however, showed a abrupt downturn. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. The volume of export peaked at X tonnes in 2013; however, from 2014 to 2020, the exports failed to regain momentum.

In value terms, millet exports fell to $X in 2020. Overall, exports, however, continue to indicate a noticeable slump. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2020, the exports remained at a lower figure.

Exports by Country

Argentina dominates millet exports structure, reaching X tonnes, which was near X% of total exports in 2020. It was distantly followed by Brazil (X tonnes), mixing up a X% share of total exports. The following exporters - Bolivia (X tonnes) and Haiti (X tonnes) - each finished at a X% share of total exports.

From 2007 to 2020, average annual rates of growth with regard to millet exports from Argentina stood at -X%. At the same time, Bolivia (+X%), Brazil (+X%) and Haiti (+X%) displayed positive paces of growth. Moreover, Bolivia emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +X% from 2007-2020. While the share of Brazil (+X p.p.), Bolivia (+X p.p.) and Haiti (+X p.p.) increased significantly in terms of the total exports from 2007-2020, the share of Argentina (-X p.p.) displayed negative dynamics.

In value terms, Argentina ($X) remains the largest millet supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was occupied by Bolivia ($X), with a X% share of total exports. It was followed by Brazil, with an X% share.

In Argentina, millet exports plunged by an average annual rate of -X% over the period from 2007-2020. In the other countries, the average annual rates were as follows: Bolivia (+X% per year) and Brazil (+X% per year).

Export Prices by Country

The millet export price in Latin America and the Caribbean stood at $X per tonne in 2020, falling by -X% against the previous year. Overall, the export price, however, saw moderate growth. The pace of growth was the most pronounced in 2018 when the export price increased by X% year-to-year. As a result, the export price attained the peak level of $X per tonne. From 2019 to 2020, the the export prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Bolivia ($X per tonne), while Argentina ($X per tonne) was amongst the lowest.

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

Millet Imports

Imports in Latin America and the Caribbean

In 2020, after three years of decline, there was significant growth in supplies from abroad of millet, when their volume increased by X% to X tonnes. Overall, imports, however, saw a slight reduction. The most prominent rate of growth was recorded in 2015 when imports increased by X% year-to-year. Over the period under review, imports attained the peak figure at X tonnes in 2016; however, from 2017 to 2020, imports failed to regain momentum.

In value terms, millet imports skyrocketed to $X in 2020. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of X% year-to-year. As a result, imports reached the peak of $X. From 2016 to 2020, the growth imports remained at a lower figure.

Imports by Country

Mexico (X tonnes) and Brazil (X tonnes) represented roughly X% of total imports of millet in 2020. It was distantly followed by Chile (X tonnes), making up a X% share of total imports. Colombia (X tonnes), Costa Rica (X tonnes), El Salvador (X tonnes), Guatemala (X tonnes), Peru (X tonnes), Trinidad and Tobago (X tonnes), the Dominican Republic (X tonnes) and Panama (X tonnes) held a relatively small share of total imports.

From 2007 to 2020, the biggest increases were in Panama (+X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Brazil ($X) and Chile ($X) were the countries with the highest levels of imports in 2020, with a combined X% share of total imports. Colombia, Costa Rica, El Salvador, Peru, Guatemala, the Dominican Republic, Panama and Trinidad and Tobago lagged somewhat behind, together accounting for a further X terms of the main importing countries, Panama, with a CAGR of +X%, recorded the highest growth rate of the value of imports, 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 Latin America and the Caribbean amounted to $X per tonne, with an increase of X% against the previous year. Over the period from 2007 to 2020, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2019 an increase of X% year-to-year. Over the period under review, import prices reached the maximum at $X per tonne in 2013; however, from 2014 to 2020, import prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was Colombia ($X per tonne), while Trinidad and Tobago ($X per tonne) was amongst the lowest.

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

Source: IndexBox Platform