Thailand: Millet Market 2024

Millet Market Size in Thailand

In 2022, the Thai millet market increased by X% to $X, rising for the fifth consecutive year after two years of decline. Overall, consumption enjoyed prominent growth. Millet consumption peaked in 2022 and is expected to retain growth in years to come.

Millet Production in Thailand

In value terms, millet production totaled $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with a decrease of X% against the previous year. Millet production peaked in 2022 and is likely to see gradual growth in years to come.

In 2022, the average yield of millet in Thailand stood at less than X kg per ha, almost unchanged from 2021 figures. In general, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The millet harvested area in Thailand was estimated at less than X ha in 2022, almost unchanged from 2021 figures. Over the period under review, the harvested area recorded a relatively flat trend pattern.

Millet Exports

Exports from Thailand

After two years of growth, shipments abroad of millet decreased by X% to X tons in 2022. Overall, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2021 with an increase of X%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, millet exports soared to $X in 2022. Over the period under review, exports, however, continue to indicate a moderate expansion. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The Philippines (X tons) was the main destination for millet exports from Thailand, accounting for a X% share of total exports. Moreover, millet exports to the Philippines exceeded the volume sent to the second major destination, Pakistan (X tons), fourfold. The third position in this ranking was taken by Taiwan (Chinese) (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume to the Philippines totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, Pakistan ($X) remains the key foreign market for millet exports from Thailand, comprising X% of total exports. The second position in the ranking was taken by the Philippines ($X), with an X% share of total exports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Pakistan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and the United States (X% per year).

Export Prices by Country

The average millet export price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the export price continues to indicate a prominent increase. The growth pace was the most rapid in 2018 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Pakistan ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Millet Imports

Imports into Thailand

In 2022, approx. X tons of millet were imported into Thailand; surging by X% against the previous year. In general, imports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, millet imports surged to $X in 2022. Over the period under review, imports posted a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Ukraine (X tons), Russia (X tons) and Australia (X tons) were the main suppliers of millet imports to Thailand, together accounting for X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Australia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ukraine ($X), Russia ($X) and Australia ($X) were the largest millet suppliers to Thailand, with a combined X% share of total imports.

In terms of the main suppliers, Australia, with a CAGR of X%, saw 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

The average millet import price stood at $X per ton in 2022, jumping by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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