Asia: Millet Market 2025

Millet Market Size in Asia

The Asian millet market amounted to $X in 2022, rising by 1.6% against the previous year. The market value increased at an average annual rate of +3.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Millet Production in Asia

In value terms, millet production amounted to $X in 2022 estimated in export price. The total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.0% against 2020 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 62%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

The country with the largest volume of millet production was India (X tons), comprising approx. 77% of total volume. Moreover, millet production in India exceeded the figures recorded by the second-largest producer, China (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume in India amounted to +1.8%. In the other countries, the average annual rates were as follows: China (+4.4% per year) and Nepal (+0.3% per year).

The average millet yield stood at X tons per ha in 2022, standing approx. at the year before. The yield figure increased at an average annual rate of +3.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2017 when the yield increased by 16% against the previous year. Over the period under review, the millet yield attained the peak level at X tons per ha in 2020; afterwards, it flattened through to 2022. 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 Asia; with a decrease of -2.9% against the previous year. In general, the harvested area continues to indicate a mild slump. The pace of growth was the most pronounced in 2021 with an increase of 6.2%. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Millet Exports

Exports in Asia

Millet exports soared to X tons in 2022, picking up by 16% compared with the year before. The total export volume increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when exports increased by 30% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, millet exports soared to $X in 2022. Total exports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, India (X tons) represented the major exporter of millet, mixing up 68% of total exports. Turkey (X tons) took the second position in the ranking, distantly followed by Uzbekistan (X tons). All these countries together held near 20% share of total exports. The following exporters - Kazakhstan (X tons), China (X tons) and the United Arab Emirates (X tons) - together made up 7.6% of total exports.

India experienced a relatively flat trend pattern with regard to volume of exports of millet. At the same time, Turkey (+75.6%), Kazakhstan (+58.8%) and the United Arab Emirates (+16.9%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of +75.6% from 2012-2022. By contrast, Uzbekistan (-2.3%) and China (-12.0%) illustrated a downward trend over the same period. While the share of Turkey (+14 p.p.), Uzbekistan (+5.9 p.p.) and Kazakhstan (+3.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (-9 p.p.) and India (-17.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest millet supplier in Asia, comprising 59% of total exports. The second position in the ranking was held by Uzbekistan ($X), with a 14% share of total exports. It was followed by Turkey, with a 10% share.

From 2012 to 2022, the average annual growth rate of value in India totaled +1.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Uzbekistan (+14.7% per year) and Turkey (+63.3% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, picking up by 13% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The pace of growth was the most pronounced in 2019 when the export price increased by 24%. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+17.4%), while the other leaders experienced more modest paces of growth.

Millet Imports

Imports in Asia

For the fourth consecutive year, Asia recorded growth in purchases abroad of millet, which increased by 4.4% to X tons in 2022. Total imports indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +22.4% against 2018 indices. The growth pace was the most rapid in 2015 when imports increased by 65%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the near future.

In value terms, millet imports dropped to $X in 2022. Total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when imports increased by 33% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, Pakistan (X tons), distantly followed by Indonesia (X tons), the United Arab Emirates (X tons), Nepal (X tons), Turkey (X tons) and Iraq (X tons) were the major importers of millet, together creating 65% of total imports. Thailand (X tons), the Philippines (X tons), South Korea (X tons), China (X tons), Japan (X tons), Malaysia (X tons) and Oman (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +48.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest millet importing markets in Asia were Indonesia ($X), South Korea ($X) and the Philippines ($X), together accounting for 35% of total imports. The United Arab Emirates, Pakistan, Japan, Thailand, Turkey, Nepal, Iraq, Malaysia, China and Oman lagged somewhat behind, together accounting for a further 53%.

Iraq, with a CAGR of +45.8%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, declining by -11% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the import price increased by 28% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nepal (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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