Northern America: Millet Market 2024

Millet Market Size in Northern America

The North American millet market shrank sharply to $X in 2022, waning by X% against the previous year. Overall, consumption continues to indicate a perceptible reduction. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Millet Production in Northern America

In value terms, millet production fell to $X in 2022 estimated in export price. Over the period under review, production showed a perceptible shrinkage. The pace of growth appeared the most rapid in 2019 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

The United States (X tons) remains the largest millet producing country in Northern America, accounting for X% of total volume.

In the United States, millet production remained relatively stable over the period from 2012-2022.

The average millet yield reduced to X tons per ha in 2022, which is down by X% on the year before. Over the period under review, the yield saw a deep slump. The most prominent rate of growth was recorded in 2021 when the yield increased by X% against the previous year. Over the period under review, the millet yield reached the maximum level at X tons per ha in 2012; however, from 2013 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 millet harvested area in Northern America shrank to X ha, declining by X% compared with 2021 figures. Over the period under review, the harvested area, however, showed a resilient increase. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The level of harvested area peaked at X ha in 2021, and then dropped in the following year.

Millet Exports

Exports in Northern America

In 2022, overseas shipments of millet increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports posted a pronounced expansion. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, millet exports amounted to $X in 2022. Over the period under review, exports enjoyed a temperate increase. The pace of growth appeared the most rapid in 2014 with an increase of X%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

The United States represented the largest exporting country with an export of around X tons, which accounted for X% of total exports. It was distantly followed by Canada (X tons), comprising a X% share of total exports.

Exports from the United States increased at an average annual rate of X% from 2012 to 2022. At the same time, Canada (X%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Canada increased by X percentage points.

In value terms, the United States ($X) remains the largest millet supplier in Northern America, comprising X% of total exports. The second position in the ranking was held by Canada ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States amounted to X%.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per ton, declining by X% against the previous year. Export price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, millet export price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped modestly in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%).

Millet Imports

Imports in Northern America

In 2022, purchases abroad of millet decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, recorded a tangible expansion. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then plummeted in the following year.

In value terms, millet imports shrank remarkably to $X in 2022. In general, imports, however, saw a temperate increase. The pace of growth appeared the most rapid in 2013 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2021, and then declined dramatically in the following year.

Imports by Country

Canada was the largest importing country with an import of around X tons, which resulted at X% of total imports. It was distantly followed by the United States (X tons), making up a X% share of total imports.

Canada was also the fastest-growing in terms of the millet imports, with a CAGR of X% from 2012 to 2022. The United States (X%) illustrated a downward trend over the same period. While the share of Canada (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United States (X p.p.) displayed negative dynamics.

In value terms, Canada ($X) constitutes the largest market for imported millet in Northern America, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports.

In Canada, millet imports expanded at an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2022, surging by X% against the previous year. Import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, millet import price increased by X% against 2017 indices. The pace of growth was the most pronounced in 2019 an increase of X%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($X per ton), while Canada totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%).

Source: IndexBox Platform

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