Portugal: Millet Market 2025

Millet Market Size in Portugal

The Portuguese millet market was estimated at $X in 2022, stabilizing at 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, the total consumption indicated a slight increase from 2012 to 2022: its value 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, consumption decreased by -12.2% against 2020 indices. Millet consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Millet Exports

Exports from Portugal

Millet exports from Portugal shrank sharply to X tons in 2022, declining by -53.5% on 2021. In general, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 936% against the previous year. The exports peaked at X tons in 2021, and then fell notably in the following year.

In value terms, millet exports declined dramatically to $X in 2022. Over the period under review, exports, however, showed a significant increase. The pace of growth appeared the most rapid in 2019 when exports increased by 704% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then fell notably in the following year.

Exports by Country

Spain (X tons) was the main destination for millet exports from Portugal, with a 90% share of total exports. Moreover, millet exports to Spain exceeded the volume sent to the second major destination, Angola (X tons), ninefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Spain amounted to +25.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (+44.7% per year) and the Netherlands (-97.1% per year).

In value terms, Spain ($X) remains the key foreign market for millet exports from Portugal, comprising 82% of total exports. The second position in the ranking was held by Angola ($X), with a 17% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Spain totaled +19.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (+49.2% per year) and the Netherlands (-93.7% per year).

Export Prices by Country

The average millet export price stood at $X per ton in 2022, reducing by -4.4% against the previous year. Over the period under review, the export price recorded a pronounced reduction. The most prominent rate of growth was recorded in 2020 an increase of 51%. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Spain ($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 the Netherlands (+117.7%), while the prices for the other major destinations experienced mixed trend patterns.

Millet Imports

Imports into Portugal

In 2022, overseas purchases of millet decreased by -14.4% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 73%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, millet imports expanded to $X in 2022. In general, total imports indicated a modest increase from 2012 to 2022: its value 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, imports decreased by -10.3% against 2020 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 119%. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, France (X tons) constituted the largest supplier of millet to Portugal, accounting for a 65% share of total imports. Moreover, millet imports from France exceeded the figures recorded by the second-largest supplier, Ukraine (X tons), fourfold. Argentina (X tons) ranked third in terms of total imports with a 5.7% share.

From 2012 to 2022, the average annual growth rate of volume from France totaled +8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (-9.9% per year) and Argentina (+8.3% per year).

In value terms, France ($X) constituted the largest supplier of millet to Portugal, comprising 51% of total imports. The second position in the ranking was held by Ukraine ($X), with an 18% share of total imports. It was followed by Argentina, with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from France amounted to +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (-5.6% per year) and Argentina (+10.4% per year).

Import Prices by Country

In 2022, the average millet import price amounted to $X per ton, picking up by 22% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The pace of growth appeared the most rapid in 2019 when the average import price increased by 27% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for France ($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 (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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