ASEAN: Millet Market 2024

Millet Market Size in ASEAN

The ASEAN millet market dropped modestly to $X in 2022, reducing by X% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then contracted slightly in the following year.

Millet Production in ASEAN

In value terms, millet production shrank to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt decrease. The growth pace was the most rapid in 2019 when the production volume increased by X%. The level of production peaked 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. X% of total volume.

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

The average millet yield dropped modestly to X kg per ha in 2022, which is down by X% against the year before. In general, the yield, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of yield peaked at X tons per ha in 2016; however, from 2017 to 2022, the yield remained at a 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 ASEAN; with a decrease of X% against the year before. Over the period under review, the harvested area showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the harvested area increased by X% against the previous year. As a result, the harvested area attained the peak level of X ha, and then reduced remarkably in the following year.

Millet Exports

Exports in ASEAN

In 2022, millet exports in ASEAN surged to X tons, rising by X% on 2021 figures. Over the period under review, exports enjoyed perceptible growth. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, millet exports surged to $X in 2022. Overall, exports posted a notable increase. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Vietnam represented the largest exporter of millet in ASEAN, with the volume of exports finishing at X tons, which was near X% of total exports in 2022. Thailand (X tons) held the second position in the ranking, followed by Myanmar (X tons) and Malaysia (X tons). All these countries together held near X% share of total exports.

Vietnam was also the fastest-growing in terms of the millet exports, with a CAGR of X% from 2012 to 2022. At the same time, Myanmar (X%) displayed positive paces of growth. By contrast, Malaysia (X%) and Thailand (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam and Myanmar increased by X and X percentage points, respectively.

In value terms, Vietnam ($X), Thailand ($X) and Malaysia ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

In terms of the main exporting countries, Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, surging by X% against the previous year. Overall, the export price, however, continues to indicate a mild setback. The pace of growth appeared the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Myanmar ($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 (X%), while the other leaders experienced mixed trends in the export price figures.

Millet Imports

Imports in ASEAN

Millet imports rose modestly to X tons in 2022, picking up by X% compared with 2021 figures. In general, imports recorded prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, millet imports soared to $X in 2022. Overall, imports saw a remarkable increase. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the near future.

Imports by Country

Indonesia was the main importer of millet in ASEAN, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2022. 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. X% share of total imports. Vietnam (X tons) held a relatively small share of total imports.

Indonesia was also the fastest-growing in terms of the millet imports, with a CAGR of X% from 2012 to 2022. At the same time, Thailand (X%) and the Philippines (X%) displayed positive paces of growth. Malaysia experienced a relatively flat trend pattern. By contrast, Vietnam (X%) illustrated a downward trend over the same period. Indonesia (X p.p.) significantly strengthened its position in terms of the total imports, while the Philippines, Malaysia and Vietnam saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported millet in ASEAN, comprising X% of total imports. The second position in the ranking was held by the Philippines ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Indonesia stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: the Philippines (X% per year) and Thailand (X% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, picking up by X% against the previous year. Import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of X% 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 X% against 2017 indices. The most prominent rate of growth was recorded in 2019 an increase of X%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in the Philippines ($X per ton) and Malaysia ($X per ton), while Indonesia ($X per ton) and Thailand ($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 (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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