Argentina: Millet Market 2025

Millet Market Size in Argentina

In 2022, after two years of decline, there was significant growth in the Argentinian millet market, when its value increased by 160% to $X. Overall, consumption, however, recorded a deep reduction. Millet consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Millet Production in Argentina

In value terms, millet production shrank modestly to $X in 2022 estimated in export price. Overall, production, however, showed a abrupt shrinkage. The pace of growth was the most pronounced in 2019 when the production volume increased by 149% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

The average yield of millet in Argentina soared to X tons per ha in 2022, jumping by 55% against the previous year's figure. Over the period under review, the yield indicated a noticeable increase from 2012 to 2022: its figure increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 with an increase of 92%. The millet yield peaked in 2022 and is likely to see steady growth in the immediate term. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of millet were harvested in Argentina; declining by -21.9% on the previous year's figure. Over the period under review, the harvested area saw a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when the harvested area increased by 117% against the previous year. The millet harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

Millet Exports

Exports from Argentina

In 2022, shipments abroad of millet decreased by -19.9% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports showed a slight contraction. The pace of growth was the most pronounced in 2016 when exports increased by 306% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then shrank remarkably in the following year.

In value terms, millet exports shrank to $X in 2022. In general, exports showed a noticeable decline. The most prominent rate of growth was recorded in 2016 when exports increased by 248%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Brazil (X tons) was the main destination for millet exports from Argentina, with a 74% share of total exports. Moreover, millet exports to Brazil exceeded the volume sent to the second major destination, Chile (X tons), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Brazil was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+2.0% per year) and Belgium (-4.0% per year).

In value terms, Brazil ($X) remains the key foreign market for millet exports from Argentina, comprising 70% of total exports. The second position in the ranking was held by Chile ($X), with a 17% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Brazil amounted to -3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+2.8% per year) and Belgium (-2.4% per year).

Export Prices by Country

The average millet export price stood at $X per ton in 2022, growing by 10% against the previous year. In general, the export price, however, showed a perceptible curtailment. The most prominent rate of growth was recorded in 2013 an increase of 12%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to Brazil ($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 Belgium (+1.7%), while the prices for the other major destinations experienced mixed trend patterns.

Millet Imports

Imports into Argentina

In 2022, the amount of millet imported into Argentina dropped sharply to X tons, declining by -59.6% on the previous year. Over the period under review, imports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2021 when imports increased by 1,751%. As a result, imports attained the peak of X tons, and then contracted sharply in the following year.

In value terms, millet imports contracted sharply to $X in 2022. In general, imports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 1,915% against the previous year. As a result, imports reached the peak of $X, and then fell significantly in the following year.

Imports by Country

In 2022, Brazil (X tons) constituted the largest supplier of millet to Argentina, accounting for a 85% share of total imports. Moreover, millet imports from Brazil exceeded the figures recorded by the second-largest supplier, Uruguay (X tons), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil amounted to +301.2%.

In value terms, Brazil ($X) constituted the largest supplier of millet to Argentina, comprising 89% of total imports. The second position in the ranking was held by Uruguay ($X), with an 11% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil totaled +304.0%.

Import Prices by Country

In 2022, the average millet import price amounted to $X per ton, increasing by 62% against the previous year. Over the period under review, the import price recorded a resilient increase. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for Uruguay amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+44.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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