Vietnam: Millet Market 2025

Millet Market Size in Vietnam

The Vietnamese millet market was estimated at $X in 2022, with an increase of 9.2% against the previous year. Overall, consumption, however, saw a notable increase. Millet consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Millet Production in Vietnam

In value terms, millet production dropped dramatically to $X in 2022 estimated in export price. Over the period under review, production saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2016 when the production volume increased by 122%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

The average yield of millet in Vietnam contracted to X tons per ha in 2022, declining by -4.4% on the year before. In general, the yield, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the yield increased by 61%. As a result, the yield reached the peak level of X tons per ha. From 2017 to 2022, the growth of the average millet yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of millet were harvested in Vietnam; growing by 3.2% compared with the year before. Over the period under review, the total harvested area indicated a moderate expansion from 2012 to 2022: its figure increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, millet harvested area decreased by -28.1% against 2018 indices. The pace of growth appeared the most rapid in 2016 when the harvested area increased by 46%. The millet harvested area peaked at X ha in 2018; however, from 2019 to 2022, the harvested area failed to regain momentum.

Millet Exports

Exports from Vietnam

In 2022, overseas shipments of millet decreased by -73.4% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, exports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2013 when exports increased by 216% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted notably in the following year.

In value terms, millet exports declined notably to $X in 2022. Over the period under review, exports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 327%. The exports peaked at $X in 2021, and then dropped notably in the following year.

Exports by Country

Taiwan (Chinese) (X tons) was the main destination for millet exports from Vietnam, with a 81% share of total exports. Moreover, millet exports to Taiwan (Chinese) exceeded the volume sent to the second major destination, Japan (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Taiwan (Chinese) totaled +9.5%.

In value terms, Taiwan (Chinese) ($X) remains the key foreign market for millet exports from Vietnam, comprising 79% of total exports. The second position in the ranking was held by Japan ($X), with a 21% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Taiwan (Chinese) amounted to -1.7%.

Export Prices by Country

In 2022, the average millet export price amounted to $X per ton, standing approx. at the previous year. Overall, the export price, however, continues to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2013 when the average export price increased by 35% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Taiwan (Chinese) totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (-5.0%).

Millet Imports

Imports into Vietnam

In 2022, after three years of growth, there was significant decline in purchases abroad of millet, when their volume decreased by -31.8% to X tons. In general, imports, however, posted moderate growth. The growth pace was the most rapid in 2013 with an increase of 170% against the previous year. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, millet imports declined to $X in 2022. Overall, imports, however, enjoyed a perceptible increase. The most prominent rate of growth was recorded in 2013 with an increase of 190%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of millet to Vietnam, accounting for a 57% share of total imports. Moreover, millet imports from China exceeded the figures recorded by the second-largest supplier, Ukraine (X tons), twofold. Russia (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +26.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (+17.6% per year) and Russia (+24.4% per year).

In value terms, China ($X) constituted the largest supplier of millet to Vietnam, comprising 56% of total imports. The second position in the ranking was taken by Ukraine ($X), with a 26% share of total imports. It was followed by Russia, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +26.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (+17.4% per year) and Russia (+24.1% per year).

Import Prices by Country

In 2022, the average millet import price amounted to $X per ton, increasing by 25% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 45% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+10.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :