Philippines: Millet Market 2025

Millet Market Size in the Philippines

The Philippine millet market surged to $X in 2022, jumping by 106% 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). Overall, consumption saw a buoyant increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Millet Exports

Exports from the Philippines

In 2022, approx. X tons of millet were exported from the Philippines; reducing by -43.3% compared with 2021 figures. Over the period under review, exports recorded a abrupt decline. The most prominent rate of growth was recorded in 2020 with an increase of 536% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, millet exports fell markedly to $X in 2022. In general, exports recorded a perceptible downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 424% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X tons) was the main destination for millet exports from the Philippines, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan amounted to -9.0%.

In value terms, Japan ($X) also remains the key foreign market for millet exports from the Philippines.

From 2012 to 2022, the average annual growth rate of value to Japan totaled -2.5%.

Export Prices by Country

The average millet export price stood at $X per ton in 2022, growing by 3.1% against the previous year. Overall, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, millet export price decreased by -14.0% against 2019 indices. The growth pace was the most rapid in 2013 an increase of 37%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 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 Japan.

From 2012 to 2022, the rate of growth in terms of prices for Japan amounted to +7.2% per year.

Millet Imports

Imports into the Philippines

In 2022, imports of millet into the Philippines soared to X tons, increasing by 87% on 2021. Overall, imports posted a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, millet imports soared to $X in 2022. In general, imports posted a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States (X tons), Ukraine (X tons) and Russia (X tons) were the main suppliers of millet imports to the Philippines, together comprising 93% of total imports.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +51.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Ukraine ($X) and Russia ($X) appeared to be the largest millet suppliers to the Philippines, with a combined 93% share of total imports.

Russia, with a CAGR of +62.3%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average millet import price amounted to $X per ton, with an increase of 14% against the previous year. Overall, import price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +3.7% 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 +119.3% against 2017 indices. The pace of growth was the most pronounced in 2019 an increase of 22%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the United States ($X per ton) and Russia ($X per ton), while the price for China ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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