Global Millet Market 2022

Millet Market Size

The global millet market declined modestly to $X in 2021, with a decrease of less than X% against the previous year. The market value increased at an average annual rate of +X% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the global market failed to regain momentum.

Millet Production

In value terms, millet production reduced slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +X% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, production attained the peak level of $X. From 2018 to 2021, global production growth remained at a lower figure.

The country with the largest volume of millet production was India (X tons), comprising approx. X% of total volume. Moreover, millet production in India exceeded the figures recorded by the second-largest producer, Niger (X tons), threefold. China (X tons) ranked third in terms of total production with a X% share.

In India, millet production remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Niger (-X% per year) and China (+X% per year).

The global average millet yield shrank modestly to X kg per ha in 2021, waning by less than X% compared with 2020 figures. Over the period under review, the yield, however, continues 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. As a result, the yield reached the peak level of X kg per ha. From 2016 to 2021, the growth of the average millet yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The global millet harvested area stood at X ha in 2021, approximately equating the previous year. In general, the harvested area continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The global harvested area peaked at X ha in 2018; however, from 2019 to 2021, the harvested area failed to regain momentum.

Millet Exports

Exports

For the third year in a row, the global market recorded growth in shipments abroad of millet, which increased by X% to X tons in 2021. In general, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, the global exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, millet exports amounted to $X in 2021. Overall, total exports indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +X% against 2017 indices. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, the global exports attained the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

Ukraine represented the main exporter of millet in the world, with the volume of exports reaching X tons, which was approx. X% of total exports in 2021. It was distantly followed by India (X tons), Russia (X tons), the United States (X tons) and France (X tons), together creating a X% share of total exports. The following exporters - Turkey (X tons), Canada (X tons), Austria (X tons) and Mali (X tons) - together made up X% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Turkey (with a CAGR of +X%), while the other global leaders experienced more modest paces of growth.

In value terms, Ukraine ($X), the United States ($X) and India ($X) were the countries with the highest levels of exports in 2021, together accounting for X% of global exports. These countries were followed by Russia, France, Canada, Turkey, Austria and Mali, which together accounted for a further X, with a CAGR of +X%, saw the highest growth rate of the value of exports, among the main exporting countries 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 ton in 2021, reducing by less than X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the the average export prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was the United States ($X per ton), while Mali ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+X%), while the other global leaders experienced mixed trends in the export price figures.

Millet Imports

Imports

For the third consecutive year, the global market recorded growth in overseas purchases of millet, which increased by X% to X tons in 2021. The total import volume increased at an average annual rate of +X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Global imports peaked in 2021 and are likely to continue growth in the near future.

In value terms, millet imports stood at $X in 2021. Over the period under review, total imports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Global imports peaked in 2021 and are likely to continue growth in years to come.

Imports by Country

In 2021, Indonesia (X tons), distantly followed by Belgium (X tons), Germany (X tons), Turkey (X tons) and the United Arab Emirates (X tons) represented the largest importers of millet, together committing X% of total imports. Nepal (X tons), Canada (X tons), Kenya (X tons), the United States (X tons), Iraq (X tons), Poland (X tons), the Netherlands (X tons) and Italy (X tons) took a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to millet imports into Indonesia stood at +X%. At the same time, Iraq (+X%), Kenya (+X%), Poland (+X%), the United States (+X%), Turkey (+X%), the United Arab Emirates (+X%), Canada (+X%), Germany (+X%), the Netherlands (+X%) and Belgium (+X%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the world, with a CAGR of +X% from 2012-2021. Nepal and Italy experienced a relatively flat trend pattern. From 2012 to 2021, the share of Indonesia, Kenya, Iraq, the United States, Poland, Turkey and the United Arab Emirates increased by +X, less than X, less than X, less than X, less than X, less than X and less than X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2021, the average annual rate of growth in terms of value in Indonesia amounted to +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 2021, the average millet import price amounted to $X per ton, with an increase of X% against the previous year. Over the last nine years, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2019 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was the United States ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nepal (+X%), while the other global leaders experienced more modest paces of growth.

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