South-Eastern Asia: Millet Market 2025

Millet Market Size in South-Eastern Asia

The Southeast Asian millet market declined markedly to $X in 2022, shrinking by -20.2% against the previous year. Over the period under review, consumption recorded a slight reduction. As a result, consumption reached the peak level of $X, and then fell notably in the following year.

Millet Production in South-Eastern Asia

In value terms, millet production declined to $X in 2022 estimated in export price. In general, production saw a abrupt downturn. The pace of growth was the most pronounced in 2019 with an increase of 23%. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Myanmar (X tons) constituted the country with the largest volume of millet production, comprising approx. 98% of total volume.

In Myanmar, millet production remained relatively stable over the period from 2012-2022.

The average millet yield dropped slightly to X kg per ha in 2022, shrinking by -3.4% against 2021. Over the period under review, the yield, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 9.2% against the previous year. The level of yield peaked at X tons per ha in 2016; however, from 2017 to 2022, the yield failed to regain momentum. 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 South-Eastern Asia fell notably to X ha, shrinking by -16.5% on the previous year. Over the period under review, the harvested area continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 49%. As a result, the harvested area reached the peak level of X ha, and then contracted significantly in the following year.

Millet Exports

Exports in South-Eastern Asia

In 2022, overseas shipments of millet decreased by -34.2% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 1,589%. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, millet exports fell to $X in 2022. Overall, exports, however, recorded a pronounced increase. The most prominent rate of growth was recorded in 2013 when exports increased by 1,062%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Thailand (X tons), Vietnam (X tons) and Myanmar (X tons) represented roughly 83% of total exports in 2022. It was distantly followed by Malaysia (X tons), generating a 13% share of total exports. The Philippines (X tons) took a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +24.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) remains the largest millet supplier in South-Eastern Asia, comprising 52% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 15% share of total exports. It was followed by the Philippines, with a 15% share.

From 2012 to 2022, the average annual growth rate of value in Thailand totaled +2.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+31.2% per year) and the Philippines (-2.5% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, picking up by 33% against the previous year. In general, the export price continues to indicate notable growth. The most prominent rate of growth was recorded in 2021 when the export price increased by 95% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+10.9%), while the other leaders experienced more modest paces of growth.

Millet Imports

Imports in South-Eastern Asia

In 2022, after five years of growth, there was significant decline in supplies from abroad of millet, when their volume decreased by -37.5% to X tons. Over the period under review, imports, however, enjoyed a prominent increase. The pace of growth was the most pronounced in 2017 when imports increased by 41%. The volume of import peaked at X tons in 2021, and then dropped dramatically in the following year.

In value terms, millet imports fell rapidly to $X in 2022. In general, imports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of 68% against the previous year. The level of import peaked at $X in 2021, and then dropped remarkably in the following year.

Imports by Country

Indonesia represented the main importing country with an import of about X tons, which finished at 52% of total imports. Thailand (X tons) took the second position in the ranking, followed by the Philippines (X tons) and Malaysia (X tons). All these countries together took approx. 45% share of total imports. Vietnam (X tons) held a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to millet imports into Indonesia stood at +7.5%. At the same time, Thailand (+8.8%), Malaysia (+5.5%), the Philippines (+5.0%) and Vietnam (+2.8%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +8.8% from 2012-2022. Indonesia (+4.4 p.p.) and Thailand (+3.2 p.p.) significantly strengthened its position in terms of the total imports, while the Philippines saw its share reduced by -2.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported millet in South-Eastern Asia, comprising 49% of total imports. The second position in the ranking was taken by the Philippines ($X), with a 20% share of total imports. It was followed by Thailand, with an 18% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Indonesia amounted to +9.9%. In the other countries, the average annual rates were as follows: the Philippines (+8.9% per year) and Thailand (+9.6% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, rising by 13% against the previous year. Import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +2.2% 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 +70.3% against 2017 indices. The most prominent rate of growth was recorded in 2019 an increase of 29% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in the Philippines ($X per ton) and Thailand ($X per ton), while Vietnam ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+3.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :