World - Millet - Market Analysis, Forecast, Size, Trends and Insights
Update: COVID-19 Impact

Global Millet Market Overview 2020

Millet Market Size

The global millet market revenue amounted to $X in 2018, surging by X% against the previous year. The market value increased at an average annual rate of +X% over the period from 2007 to 2018; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2010 when the market value increased by X% year-to-year. Over the period under review, the global millet market reached its peak figure level at $X in 2015; however, from 2016 to 2018, consumption failed to regain its momentum.

Millet Production

In value terms, millet production stood at $X in 2018 estimated in export prices. In general, the total output indicated moderate growth from 2007 to 2018: its value increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, millet production decreased by -X% against 2015 indices. The most prominent rate of growth was recorded in 2010 with an increase of X% against the previous year. The global millet production peaked at $X in 2015; however, from 2016 to 2018, production stood at a somewhat lower figure.

India (X tonnes) constituted the country with the largest volume of millet production, comprising approx. X% of total volume. Moreover, millet production in India exceeded the figures recorded by the second-largest producer, Niger (X tonnes), threefold. The third position in this ranking was occupied by China (X tonnes), with a X% share.

From 2007 to 2018, the average annual growth rate of volume in India was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: Niger (+X% per year) and China (+X% per year).

In 2018, the global average yield of millet totaled X kg per ha, therefore, remained relatively stable against the previous year. The yield figure increased at an average annual rate of +X% over the period from 2007 to 2018; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2010 when yield increased by X% y-o-y. Over the period under review, the average millet yield attained its maximum level at X kg per ha in 2015; however, from 2016 to 2018, 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.

Global millet harvested area amounted to X ha in 2018, leveling off at the previous year. In general, the millet harvested area continues to indicate a slight curtailment. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to millet production attained its maximum at X ha in 2010; however, from 2011 to 2018, harvested area remained at a lower figure.

Production By Country

India (X tonnes) constituted the country with the largest volume of millet production, accounting for X% of total volume. Moreover, millet production in India exceeded the figures recorded by the second-largest producer, Niger (X tonnes), threefold. China (X tonnes) ranked third in terms of total production with a X% share.

In India, millet production remained relatively stable over the period from 2007-2018. The remaining producing countries recorded the following average annual rates of production growth: Niger (+X% per year) and China (+X% per year).

Millet Exports

Exports 2007-2018

In 2018, the amount of millet exported worldwide totaled X tonnes, waning by -X% against the previous year. Over the period under review, millet exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The global exports peaked at X tonnes in 2012; however, from 2013 to 2018, exports failed to regain their momentum.

In value terms, millet exports amounted to $X in 2018. The total export value increased at an average annual rate of +X% from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2010 when exports increased by X% y-o-y. The global exports peaked at $X in 2012; however, from 2013 to 2018, exports failed to regain their momentum.

Exports by Country

The countries with the highest levels of millet exports in 2018 were the U.S. (X tonnes), India (X tonnes) and Ukraine (X tonnes), together accounting for X% of total export. It was distantly followed by Russia (X tonnes), creating a X% share of total exports. France (X tonnes), Austria (X tonnes), the Netherlands (X tonnes), Germany (X tonnes) and China (X tonnes) followed a long way behind the leaders.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Ukraine, while exports for the other global leaders experienced more modest paces of growth.

In value terms, the largest millet markets worldwide were the U.S. ($X), Ukraine ($X) and India ($X), with a combined X% share of global exports.

Ukraine recorded the highest rates of growth with regard to market size, among the main exporting countries over the period under review, while exports for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average millet export price stood at $X per tonne in 2018, going up by X% against the previous year. Over the period under review, the millet export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2008 an increase of X% y-o-y. The global export price peaked at $X per tonne in 2013; however, from 2014 to 2018, export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was China ($X per tonne), while Russia ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other global leaders experienced more modest paces of growth.

Millet Imports

Imports 2007-2018

In 2018, the amount of millet imported worldwide stood at X tonnes, going down by -X% against the previous year. The total import volume increased at an average annual rate of +X% over the period from 2007 to 2018; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2012 when imports increased by X% against the previous year. In that year, global millet imports attained their peak of X tonnes. From 2013 to 2018, the growth of global millet imports remained at a somewhat lower figure.

In value terms, millet imports amounted to $X in 2018. Over the period under review, millet imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2008 when imports increased by X% year-to-year. The global imports peaked at $X in 2012; however, from 2013 to 2018, imports remained at a lower figure.

Imports by Country

In 2018, Indonesia (X tonnes), followed by Germany (X tonnes), Belgium (X tonnes), Iran (X tonnes), Pakistan (X tonnes) and the United Arab Emirates (X tonnes) were the main importers of millet, together creating X% of total imports. Spain (X tonnes), Canada (X tonnes), South Korea (X tonnes), Saudi Arabia (X tonnes), Italy (X tonnes) and Nepal (X tonnes) followed a long way behind the leaders.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Nepal, while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest millet importing markets worldwide were Indonesia ($X), Germany ($X) and Belgium ($X), together accounting for X% of global imports.

In terms of the main importing countries, Indonesia experienced the highest growth rate of market size, over the period under review, while imports for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average millet import price stood at $X per tonne in 2018, dropping by -X% against the previous year. Overall, the millet import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 when the average import price increased by X% year-to-year. Over the period under review, the average import prices for millet attained their maximum at $X per tonne in 2013; however, from 2014 to 2018, import prices failed to regain their momentum.

Prices varied noticeably by the country of destination; the country with the highest price was South Korea ($X per tonne), while Iran ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by South Korea, while the other global leaders experienced more modest paces of growth.

Source: IndexBox AI Platform