Paraguay: Millet Market 2024

Millet Market Size in Paraguay

In 2022, the Paraguayan millet market decreased by X% to $X for the first time since 2018, thus ending a three-year rising trend. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Millet Production in Paraguay

In value terms, millet production dropped to $X in 2022 estimated in export price. In general, production saw a abrupt downturn. The growth pace was the most rapid in 2019 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

The average yield of millet in Paraguay totaled less than X kg per ha in 2022, stabilizing at the previous year. Overall, the yield recorded a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of millet production in Paraguay amounted to less than X ha, standing approx. at the previous year's figure. Over the period under review, the harvested area showed a relatively flat trend pattern.

Millet Exports

Exports from Paraguay

In 2022, overseas shipments of millet were finally on the rise to reach X tons after two years of decline. Overall, exports recorded moderate growth. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, millet exports soared to $X in 2022. Over the period under review, exports showed a strong increase. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Trinidad and Tobago (X tons) was the main destination for millet exports from Paraguay, with a X% share of total exports. Moreover, millet exports to Trinidad and Tobago exceeded the volume sent to the second major destination, Iceland (X tons), more than tenfold. The third position in this ranking was taken by the United Arab Emirates (X kg), with a X% share.

From 2014 to 2022, the average annual growth rate of volume to Trinidad and Tobago was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Iceland (X% per year) and the United Arab Emirates (X% per year).

In value terms, Trinidad and Tobago ($X) emerged as the key foreign market for millet exports from Paraguay, comprising X% of total exports. The second position in the ranking was taken by Iceland ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

From 2014 to 2022, the average annual growth rate of value to Trinidad and Tobago was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Iceland (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

The average millet export price stood at $X per ton in 2022, jumping by X% against the previous year. Over the period under review, the export price enjoyed a strong expansion. The pace of growth was the most pronounced in 2021 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in years to come.

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 Iceland ($X per ton), while the average price for exports to Trinidad and Tobago ($X per ton) was amongst the lowest.

From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (X%), while the prices for the other major destinations experienced more modest paces of growth.

Millet Imports

Imports into Paraguay

In 2022, supplies from abroad of millet decreased by X% to X tons, falling for the fourth year in a row after two years of growth. Over the period under review, imports recorded a precipitous descent. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, millet imports declined significantly to $X in 2022. In general, imports continue to indicate a deep contraction. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Brazil (X tons) was the main millet supplier to Paraguay, with a approx. X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil totaled X%.

In value terms, Brazil ($X) constituted the largest supplier of millet to Paraguay.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil stood at X%.

Import Prices by Country

In 2022, the average millet import price amounted to $X per ton, rising by X% against the previous year. In general, import price indicated a resilient increase 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. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for Brazil.

From 2012 to 2022, the rate of growth in terms of prices for Brazil amounted to X% per year.

Source: IndexBox Platform

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