Millet Market in South Korea
In value terms, millet production surged to $ in estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2012 when the production volume increased by % against the previous year. Millet production peaked at $ in 2015; however, from 2016 to , production stood at a somewhat lower figure.
In , the average yield of millet in South Korea totaled tons per ha, therefore, remained relatively stable against the previous year. In general, the yield, however, continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2009 when the yield increased by % against the previous year. As a result, the yield attained the peak level of tons per ha. From 2010 to , the growth of the average millet 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.
The millet harvested area in South Korea shrank modestly to ha in , remaining relatively unchanged against the previous year's figure. Over the period under review, the harvested area showed a mild downturn. The growth pace was the most rapid in 2010 with an increase of % against the previous year. Over the period under review, the harvested area dedicated to millet production reached the maximum at ha in 2011; however, from 2012 to , the harvested area remained at a lower figure.
The size of the millet market in South Korea totaled $ in , surging by % against 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, consumption, however, recorded a pronounced decline. Over the period under review, the market hit record highs at $ in 2013; however, from 2014 to , consumption failed to regain momentum.