U.S.: Millet Market 2022

Millet Exports

Exports from the U.S.

In 2020, shipments abroad of millet decreased by -X% to X tonnes for the first time since 2016, thus ending a three-year rising trend. Overall, exports, however, showed a resilient increase. The growth pace was the most rapid in 2014 when exports increased by X% year-to-year. The exports peaked at X tonnes in 2019, and then contracted remarkably in the following year.

In value terms, millet exports declined significantly to $X in 2020. Over the period under review, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The exports peaked at $X in 2019, and then contracted markedly in the following year.

Exports by Country

Indonesia (X tonnes) was the main destination for millet exports from the United States, with a X% share of total exports. Moreover, millet exports to Indonesia exceeded the volume sent to the second major destination, Canada (X tonnes), fourfold. The third position in this ranking was occupied by the Philippines (X tonnes), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume to Indonesia totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+X% per year) and the Philippines (+X% per year).

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

From 2007 to 2020, the average annual growth rate of value to Indonesia stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+X% per year) and the Philippines (+X% per year).

Export Prices by Country

In 2020, the average millet export price amounted to $X per tonne, surging by X% against the previous year. Over the period from 2007 to 2020, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2019 an increase of X% y-o-y. Over the period under review, the average export prices reached the peak figure at $X per tonne in 2013; however, from 2014 to 2020, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2020, the highest prices were recorded for prices to South Korea ($X per tonne) and Mexico ($X per tonne), while the average price for exports to Indonesia ($X per tonne) and the Philippines ($X per tonne) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Millet Imports

Imports into the U.S.

In 2020, approx. X tonnes of millet were imported into the United States; growing by X% on the previous year. Over the period under review, imports recorded a noticeable increase. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. Imports peaked at X tonnes in 2012; however, from 2013 to 2020, imports remained at a lower figure.

In value terms, millet imports expanded markedly to $X in 2020. Overall, imports enjoyed a pronounced expansion. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2020, imports failed to regain momentum.

Imports by Country

In 2020, Canada (X tonnes) constituted the largest millet supplier to the United States, accounting for a X% share of total imports. Moreover, millet imports from Canada exceeded the figures recorded by the second-largest supplier, China (X tonnes), twofold. Argentina (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual growth rate of volume from Canada amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+X% per year) and Argentina (+X% per year).

In value terms, the largest millet suppliers to the United States were China ($X), Canada ($X) and France ($X), together comprising X% of total imports.

Among the main suppliers, China, 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 tonne in 2020, dropping by -X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the average import price increased by X% year-to-year. As a result, import price attained the peak level of $X per tonne. From 2016 to 2020, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was France ($X per tonne), while the price for Argentina ($X per tonne) was amongst the lowest.

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

Source: IndexBox Platform