Asia-Pacific: Sorghum Market 2024

Sorghum Market Size in Asia-Pacific

In 2022, the Asia-Pacific sorghum market increased by 10% to $X, rising for the third year in a row after two years of decline. The total consumption indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +112.0% against 2019 indices. Over the period under review, the market attained the peak level in 2022 and is likely to continue growth in years to come.

Sorghum Production in Asia-Pacific

In value terms, sorghum production expanded to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 61% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were India (X tons), China (X tons) and Australia (X tons), with a combined 96% share of total production.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +1.6%), while production for the other leaders experienced more modest paces of growth.

The average sorghum yield expanded rapidly to X tons per ha in 2022, with an increase of 6.2% on the previous year. The yield figure increased at an average annual rate of +2.6% 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 2018 with an increase of 18% against the previous year. Over the period under review, the sorghum yield hit record highs in 2022 and is expected to retain 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, the sorghum harvested area in Asia-Pacific reduced slightly to X ha, therefore, remained relatively stable against 2021. Overall, the harvested area continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2015 when the harvested area increased by 8.2%. As a result, the harvested area reached the peak level of X ha. From 2016 to 2022, the growth of the sorghum harvested area failed to regain momentum.

Sorghum Exports

Exports in Asia-Pacific

For the third year in a row, Asia-Pacific recorded growth in overseas shipments of sorghum, which increased by 36% to X tons in 2022. Overall, exports enjoyed a remarkable increase. The pace of growth was the most pronounced in 2021 when exports increased by 588%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, sorghum exports soared to $X in 2022. In general, exports showed a significant expansion. The growth pace was the most rapid in 2021 with an increase of 553%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Australia prevails in exports structure, recording X tons, which was approx. 98% of total exports in 2022. India (X tons) took a relatively small share of total exports.

Australia was also the fastest-growing in terms of the sorghum exports, with a CAGR of +27.8% from 2012 to 2022. India (-12.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Australia increased by +47 percentage points.

In value terms, Australia ($X) remains the largest sorghum supplier in Asia-Pacific, comprising 97% of total exports. The second position in the ranking was taken by India ($X), with a 2.2% share of total exports.

In Australia, sorghum exports expanded at an average annual rate of +30.0% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, increasing by 11% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 31% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while Australia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+2.8%).

Sorghum Imports

Imports in Asia-Pacific

In 2022, purchases abroad of sorghum increased by 7.3% to X tons, rising for the third year in a row after four years of decline. Overall, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2020 when imports increased by 295% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, sorghum imports skyrocketed to $X in 2022. In general, imports continue to indicate a significant expansion. The growth pace was the most rapid in 2020 with an increase of 294%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

China dominates imports structure, finishing at X tons, which was near 96% of total imports in 2022. Japan (X tons) held a minor share of total imports.

China was also the fastest-growing in terms of the sorghum imports, with a CAGR of +63.6% from 2012 to 2022. Japan (-16.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +92 percentage points.

In value terms, China ($X) constitutes the largest market for imported sorghum in Asia-Pacific, comprising 96% of total imports. The second position in the ranking was taken by Japan ($X), with a 2.6% share of total imports.

In China, sorghum imports increased at an average annual rate of +66.2% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, growing by 15% against the previous year. Import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sorghum import price increased by +77.9% against 2016 indices. The pace of growth appeared the most rapid in 2021 when the import price increased by 33% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+2.5%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :