Bangladesh: Millet Market 2025

Millet Market Size in Bangladesh

In 2022, the Bangladeshi millet market increased by 0.6% to $X, rising for the fourth consecutive year after two years of decline. Over the period under review, consumption saw a relatively flat trend pattern. Millet consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Millet Production in Bangladesh

In value terms, millet production fell slightly to $X in 2022 estimated in export price. In general, production showed a resilient expansion. The most prominent rate of growth was recorded in 2015 with an increase of 2,641% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

In 2022, the average yield of millet in Bangladesh declined slightly to X tons per ha, standing approx. at the previous year. Overall, the yield, however, showed a remarkable increase. The growth pace was the most rapid in 2013 with an increase of 93% against the previous year. Over the period under review, the average millet yield hit record highs at X tons per ha in 2016; however, from 2017 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the millet harvested area in Bangladesh stood at X ha, approximately reflecting 2021. Over the period under review, the harvested area, however, saw a abrupt setback. The pace of growth was the most pronounced in 2019 with an increase of 16% 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 Bangladesh

In 2020, millet exports from Bangladesh declined sharply to X kg, which is down by -30% compared with 2019 figures. Overall, exports saw a precipitous slump. The most prominent rate of growth was recorded in 2018 when exports increased by 80%. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2020, the exports remained at a lower figure.

In value terms, millet exports dropped sharply to $X in 2020. In general, exports continue to indicate a sharp decrease. The pace of growth was the most pronounced in 2018 when exports increased by 153% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2020, the exports failed to regain momentum.

Exports by Country

Canada (X kg) was the main destination for millet exports from Bangladesh, accounting for a approx. 100% share of total exports.

From 2016 to 2020, the average annual rate of growth in terms of volume to Canada totaled -32.4%.

In value terms, Canada ($X) emerged as the key foreign market for millet exports from Bangladesh.

From 2016 to 2020, the average annual growth rate of value to Canada totaled -42.2%.

Export Prices by Country

The average millet export price stood at $X per ton in 2020, which is down by -17.2% against the previous year. Overall, the export price saw a abrupt contraction. The pace of growth appeared the most rapid in 2018 when the average export price increased by 41% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2020, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Canada.

From 2016 to 2020, the rate of growth in terms of prices for Canada amounted to -14.6% per year.

Millet Imports

Imports into Bangladesh

In 2022, overseas purchases of millet increased by 8.4% to X tons, rising for the fourth consecutive year after two years of decline. In general, imports enjoyed a significant expansion. The pace of growth was the most pronounced in 2015 when imports increased by 578%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, millet imports surged to $X in 2022. Over the period under review, imports posted significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 444% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, India (X tons) was the main millet supplier to Bangladesh, with a 97% share of total imports. It was followed by the United States (X tons), with a 2.3% share of total imports. The third position in this ranking was taken by Ukraine (X tons), with a 0.9% share.

From 2013 to 2022, the average annual growth rate of volume from India amounted to +616.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (0.0% per year) and Ukraine (-31.0% per year).

In value terms, India ($X) constituted the largest supplier of millet to Bangladesh, comprising 95% of total imports. The second position in the ranking was taken by the United States ($X), with a 3.5% share of total imports. It was followed by Ukraine, with a 0.8% share.

From 2013 to 2022, the average annual rate of growth in terms of value from India amounted to +582.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (0.0% per year) and Ukraine (-30.3% per year).

Import Prices by Country

In 2022, the average millet import price amounted to $X per ton, rising by 8.9% against the previous year. Overall, the import price, however, saw a noticeable setback. The pace of growth was the most pronounced in 2014 an increase of 86% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

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

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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