Global Millet Market 2022

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), fourfold. The third position in this ranking was occupied by China (X tonnes), with a X% share.

In India, millet production remained relatively stable over the period from 2007-2020. 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

In 2020, overseas shipments of millet increased by X% to X tonnes, rising for the second year in a row after three years of decline. Over the period under review, total exports indicated a buoyant expansion from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, exports increased by +X% against 2018 indices. The most prominent rate of growth was recorded in 2009 when exports increased by X% against the previous year. Over the period under review, the global exports attained the peak figure at X tonnes in 2012; however, from 2013 to 2020, the exports stood at a somewhat lower figure.

In value terms, millet exports expanded to $X in 2020. In general, total exports indicated strong growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, exports increased by +X% against 2017 indices. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, the global exports hit record highs in 2020 and are expected to retain growth in years to come.

Exports by Country

The biggest shipments were from Ukraine (X tonnes), the United States (X tonnes) and India (X tonnes), together finishing at X% of total export. Russia (X tonnes) held an X% share (based on tonnes) of total exports, which put it in second place, followed by France (X%). Turkey (X tonnes), Myanmar (X tonnes), Pakistan (X tonnes), the Netherlands (X tonnes) and Austria (X tonnes) followed a long way behind the leaders.

From 2007 to 2020, the biggest increases were in Turkey (+X%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($X), Ukraine ($X) and India ($X) were the countries with the highest levels of exports in 2020, with a combined X% share of global exports. These countries were followed by France, Russia, the Netherlands, Austria, Myanmar, Turkey and Pakistan, which together accounted for a further X the main exporting countries, Turkey, with a CAGR of +X%, saw the highest growth rate of the value of exports, over the period under review, while shipments 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 2020, with a decrease of -X% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per tonne. From 2014 to 2020, the the average export prices remained at a somewhat lower figure.

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

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

Millet Imports

Imports

In 2020, global imports of millet soared to X tonnes, jumping by X% compared with the previous year. In general, total imports indicated notable growth from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports increased by +X% against 2018 indices. The pace of growth was the most pronounced in 2008 when imports increased by X% year-to-year. Over the period under review, global imports reached the maximum in 2020 and are expected to retain growth in years to come.

In value terms, millet imports surged to $X in 2020. Overall, total imports indicated a resilient expansion from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2008 when imports increased by X% against the previous year. Over the period under review, global imports attained the maximum in 2020 and are likely to see gradual growth in the near future.

Imports by Country

In 2020, Indonesia (X tonnes), distantly followed by Germany (X tonnes), Belgium (X tonnes), the UK (X tonnes) and Turkey (X tonnes) were the largest importers of millet, together comprising X% of total imports. The Netherlands (X tonnes), the United Arab Emirates (X tonnes), Iraq (X tonnes), Nepal (X tonnes), Canada (X tonnes), South Korea (X tonnes), Italy (X tonnes) and Spain (X tonnes) occupied a relatively small share of total imports.

Imports into Indonesia increased at an average annual rate of +X% from 2007 to 2020. At the same time, Iraq (+X%), Turkey (+X%), Nepal (+X%), Canada (+X%), the UK (+X%), the United Arab Emirates (+X%), Germany (+X%), Spain (+X%) and the Netherlands (+X%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the world, with a CAGR of +X% from 2007-2020. Italy experienced a relatively flat trend pattern. By contrast, Belgium (-X%) and South Korea (-X%) illustrated a downward trend over the same period. While the share of Indonesia (+X p.p.), Turkey (+X p.p.), Iraq (+X p.p.) and Nepal (+X p.p.) increased significantly in terms of the global imports from 2007-2020, the share of the Netherlands (-X p.p.), South Korea (-X p.p.) and Belgium (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported millet worldwide, comprising X% of global imports. The second position in the ranking was occupied by Germany ($X), with a X% share of global imports. It was followed by Belgium, with a X% share.

From 2007 to 2020, the average annual growth rate of value in Indonesia totaled +X%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+X% per year) and Belgium (+X% per year).

Import Prices by Country

In 2020, the average millet import 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 pace of growth was the most pronounced in 2019 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per tonne in 2011; however, from 2012 to 2020, import prices remained at a lower figure.

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

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

Source: IndexBox Platform