South-Eastern Asia: Millet Market 2024

Millet Market Size in South-Eastern Asia

The Southeast Asian millet market fell modestly to $X in 2022, waning by X% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then dropped in the following year.

Millet Production in South-Eastern Asia

In value terms, millet production reduced to $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt contraction. The growth pace was the most rapid in 2019 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Myanmar (X tons) constituted the country with the largest volume of millet production, comprising approx. X% of total volume.

From 2012 to 2022, the average annual growth rate of volume in Myanmar was relatively modest.

The average millet yield reduced modestly to X kg per ha in 2022, which is down by X% against the previous year's figure. Overall, the yield, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the yield increased by X%. Over the period under review, the millet yield reached the peak level at X tons per ha in 2016; however, from 2017 to 2022, the yield remained at a lower figure. 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 South-Eastern Asia reduced sharply to X ha, waning by X% on the previous year's figure. Overall, the harvested area continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the harvested area increased by X%. As a result, the harvested area reached the peak level of X ha, and then contracted significantly in the following year.

Millet Exports

Exports in South-Eastern Asia

In 2022, approx. X tons of millet were exported in South-Eastern Asia; picking up by X% on the previous year's figure. Overall, exports enjoyed moderate growth. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, millet exports soared to $X in 2022. Over the period under review, exports saw perceptible growth. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, Vietnam (X tons) represented the major exporter of millet, creating X% of total exports. Thailand (X tons) ranks second in terms of the total exports with a X% share, followed by Myanmar (X%) and Malaysia (X%).

Vietnam was also the fastest-growing in terms of the millet exports, with a CAGR of X% from 2012 to 2022. At the same time, Myanmar (X%) displayed positive paces of growth. By contrast, Malaysia (X%) and Thailand (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam and Myanmar increased by X and X percentage points, respectively.

In value terms, the largest millet supplying countries in South-Eastern Asia were Vietnam ($X), Thailand ($X) and Malaysia ($X), with a combined X% share of total exports.

Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, rising by X% against the previous year. In general, the export price, however, continues to indicate a slight curtailment. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced mixed trends in the export price figures.

Millet Imports

Imports in South-Eastern Asia

Millet imports rose slightly to X tons in 2022, picking up by X% against 2021 figures. In general, imports recorded a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, millet imports soared to $X in 2022. Overall, imports recorded resilient growth. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Indonesia was the major importer of millet in South-Eastern Asia, with the volume of imports finishing at X tons, which was approx. X% of total imports in 2022. Thailand (X tons) took the second position in the ranking, followed by the Philippines (X tons) and Malaysia (X tons). All these countries together held approx. X% share of total imports. Vietnam (X tons) took a little share of total imports.

Indonesia was also the fastest-growing in terms of the millet imports, with a CAGR of X% from 2012 to 2022. At the same time, Thailand (X%) and the Philippines (X%) displayed positive paces of growth. Malaysia experienced a relatively flat trend pattern. By contrast, Vietnam (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Indonesia increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported millet in South-Eastern Asia, comprising X% of total imports. The second position in the ranking was held by the Philippines ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

In Indonesia, millet imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the Philippines (X% per year) and Thailand (X% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, rising by X% against the previous year. Import price indicated a mild 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 appeared the most rapid in 2019 an increase of X% against the previous year. Over the period under review, import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in the Philippines ($X per ton) and Malaysia ($X per ton), while Indonesia ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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