Cereals; Millet Price in Nepal - 2022
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Cereals; Millet Price in Nepal (CIF) - 2022
The average cereals; millet import price stood at $317 per ton in 2022, picking up by 8.6% against the previous year. In general, the import price enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2018 an increase of 8.6% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the immediate term.
As there is only one major supplying country, the average price level is determined by prices for India.
From 2012 to 2022, the rate of growth in terms of prices for India amounted to +8.6% per year.
Cereals; Millet Imports in Nepal
For the fourth consecutive year, Nepal recorded growth in purchases abroad of cereals; millets, which increased by 11% to 111K tons in 2022. The total import volume increased at an average annual rate of +10.5% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 11% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.
In value terms, cereals; millet imports skyrocketed to $35M in 2022. In general, total imports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +20.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +72.8% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 20%. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in years to come.
Import of Cereals; Millet in Nepal (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
India | 20.4 | 24.5 | 29.4 | 35.3 | 20.1% |
Others | N/A | N/A | N/A | N/A | 0% |
Total | 20.4 | 24.5 | 29.4 | 35.3 | 20.1% |
Top Suppliers of Cereals; Millet to Nepal in 2022:
- India (111.4K tons)
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