China: Millet Market 2024

Millet Market Size in China

The Chinese millet market expanded remarkably to $X in 2022, picking up by X% against the previous year. In general, consumption enjoyed a resilient expansion. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Millet Production in China

In value terms, millet production amounted to $X in 2022 estimated in export price. Over the period under review, production showed a resilient expansion. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Millet production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

The average yield of millet in China expanded modestly to X tons per ha in 2022, growing by X% against the previous year. In general, the yield indicated perceptible growth from 2012 to 2022: its figure increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, millet yield decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 when the yield increased by X% against the previous year. The millet yield peaked at X tons per ha in 2020; however, from 2021 to 2022, the 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.

In 2022, the harvested area of millet in China reached X ha, approximately reflecting the previous year. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to millet production reached the peak figure at X ha in 2020; however, from 2021 to 2022, the harvested area stood at a somewhat lower figure.

Millet Exports

Exports from China

In 2022, millet exports from China shrank to X tons, waning by X% compared with the previous year. Overall, exports recorded a abrupt setback. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, millet exports fell sharply to $X in 2022. Over the period under review, exports recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons), South Korea (X tons) and Japan (X tons) were the main destinations of millet exports from China, together accounting for X% of total exports. Germany, Vietnam, the Netherlands, Italy, France, the UK and Thailand lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X), South Korea ($X) and Japan ($X) appeared to be the largest markets for millet exported from China worldwide, together accounting for X% of total exports. Indonesia, the Netherlands, Italy, Vietnam, France, the UK and Thailand lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average millet export price amounted to $X per ton, declining by X% against the previous year. Overall, the export price, however, saw a strong increase. The pace of growth appeared the most rapid in 2014 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then declined in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Vietnam ($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 Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.

Millet Imports

Imports into China

In 2022, the amount of millet imported into China declined remarkably to X kg, which is down by X% against the previous year's figure. Over the period under review, imports recorded a significant decline. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, millet imports declined notably to $X in 2022. Overall, imports continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2013 with an increase of X%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Belarus (X kg) was the main supplier of millet to China, accounting for a approx. X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Belarus was relatively modest.

In value terms, Belarus ($X) constituted the largest supplier of millet to China.

From 2012 to 2022, the average annual rate of growth in terms of value from Belarus was relatively modest.

Import Prices by Country

The average millet import price stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the import price continues to indicate significant growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for Belarus.

From 2012 to 2022, the rate of growth in terms of prices for Myanmar amounted to X% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :