Millet Market Overview in the USA
In value terms, millet production stood at $ in . Over the period under review, production enjoyed a modest increase. The pace of growth was the most pronounced in 2019 when the production volume increased by % year-to-year. Millet production peaked at $ in 2013; however, from 2014 to , production remained at a lower figure.
In , the average millet yield in the U.S. stood at tonnes per ha, flattening at 2019 figures. In general, the yield showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2012 when the yield increased by % y-o-y. As a result, the yield reached the peak level of tonnes per ha. from 2013 to , 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 , the millet harvested area in the U.S. contracted to ha, remaining relatively unchanged against 2019. In general, the harvested area saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the harvested area increased by % y-o-y. Over the period under review, the harvested area dedicated to millet production attained the maximum at ha in 2007; however, from 2008 to , the harvested area remained at a lower figure.
The revenue of the millet market in the U.S. surged to $ in , growing 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). Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2012 with an increase of % against the previous year. Over the period under review, the market hit record highs at $ in 2013; however, from 2014 to , consumption stood at a somewhat lower figure.