Belgium: Millet Market 2025

Millet Market Size in Belgium

In 2022, after four years of growth, there was significant decline in the Belgian millet market, when its value decreased by -5.2% to $X. In general, the total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +2.4% 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 +62.1% against 2017 indices. Over the period under review, the market attained the peak level at $X in 2021, and then declined in the following year.

Millet Exports

Exports from Belgium

In 2022, overseas shipments of millet decreased by -55.5% to X tons, falling for the second consecutive year after two years of growth. Overall, exports showed a deep contraction. The pace of growth appeared the most rapid in 2020 with an increase of 54% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, millet exports shrank significantly to $X in 2022. Over the period under review, exports showed a abrupt contraction. The pace of growth appeared the most rapid in 2020 with an increase of 34%. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons), France (X tons) and Germany (X tons) were the main destinations of millet exports from Belgium, with a combined 58% share of total exports. India, Italy, Denmark, Brunei Darussalam, Canada, the UK, Spain, Portugal and Hungary lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +78.2%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), France ($X) and Canada ($X) were the largest markets for millet exported from Belgium worldwide, together comprising 55% of total exports. Germany, Denmark, Italy, the UK, Spain, Portugal, India, Hungary and Brunei Darussalam lagged somewhat behind, together accounting for a further 25%.

India, with a CAGR of +60.7%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average millet export price stood at $X per ton in 2022, growing by 53% against the previous year. In general, the export price posted buoyant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 Canada ($X per ton), while the average price for exports to India ($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 Spain (+18.1%), while the prices for the other major destinations experienced more modest paces of growth.

Millet Imports

Imports into Belgium

After three years of growth, overseas purchases of millet decreased by -21.3% to X tons in 2022. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 21%. Over the period under review, imports attained the peak figure at X tons in 2021, and then contracted rapidly in the following year.

In value terms, millet imports fell slightly to $X in 2022. Over the period under review, total imports indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.6% 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 +71.0% against 2017 indices. The pace of growth was the most pronounced in 2019 with an increase of 39%. Over the period under review, imports reached the maximum at $X in 2021, and then contracted slightly in the following year.

Imports by Country

In 2022, France (X tons) constituted the largest supplier of millet to Belgium, with a 40% share of total imports. Moreover, millet imports from France exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The Netherlands (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from France totaled +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+61.5% per year) and the Netherlands (+4.8% per year).

In value terms, the largest millet suppliers to Belgium were France ($X), the Netherlands ($X) and Germany ($X), with a combined 64% share of total imports.

Germany, with a CAGR of +55.6%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average millet import price stood at $X per ton in 2022, with an increase of 22% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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