Guatemala: Millet Market 2025

Millet Market Size in Guatemala

The Guatemalan millet market skyrocketed to $X in 2022, growing by 50% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a strong increase. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Millet Exports

Exports from Guatemala

In 2022, approx. X kg of millet were exported from Guatemala; waning by -70.6% compared with the previous year's figure. In general, exports continue to indicate a significant curtailment. The most prominent rate of growth was recorded in 2015 when exports increased by 221%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, millet exports shrank sharply to $X in 2022. Overall, exports continue to indicate a dramatic downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 195%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

El Salvador (X kg) was the main destination for millet exports from Guatemala, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to El Salvador totaled -36.3%.

In value terms, El Salvador ($X) also remains the key foreign market for millet exports from Guatemala.

From 2012 to 2022, the average annual rate of growth in terms of value to El Salvador totaled -37.0%.

Export Prices by Country

In 2022, the average millet export price amounted to $X per ton, growing by 47% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt shrinkage. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Panama amounted to +7.8% per year.

Millet Imports

Imports into Guatemala

Millet imports into Guatemala soared to X tons in 2022, growing by 27% on 2021 figures. Over the period under review, imports showed a strong increase. The pace of growth was the most pronounced in 2020 with an increase of 493%. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, millet imports skyrocketed to $X in 2022. In general, imports enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2020 with an increase of 352% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of millet to Guatemala, with a 62% share of total imports. Moreover, millet imports from the United States exceeded the figures recorded by the second-largest supplier, Ukraine (X tons), twofold. The third position in this ranking was held by Canada (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (+205.4% per year) and Canada (+134,640.7% per year).

In value terms, the United States ($X) constituted the largest supplier of millet to Guatemala, comprising 67% of total imports. The second position in the ranking was taken by Ukraine ($X), with a 17% share of total imports. It was followed by Canada, with a 16% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (+212.6% per year) and Canada (+144,390.9% per year).

Import Prices by Country

In 2022, the average millet import price amounted to $X per ton, picking up by 24% against the previous year. In general, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, millet import price increased by +45.1% against 2020 indices. The most prominent rate of growth was recorded in 2019 an increase of 25%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform