Cereals; Millet, Seed Price in China - 2023
Contents:
Cereals; Millet, Seed Price in China (FOB) - 2022
The average cereals; millet, seed export price stood at $1,798 per ton in 2022, picking up by 34% against the previous year. Overall, the export price showed a buoyant increase. The most prominent rate of growth was recorded in 2013 when the average export price increased by 79% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see steady growth in years to come.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($2,575 per ton), while the average price for exports to New Zealand ($986 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+64.3%), while the prices for the other major destinations experienced more modest paces of growth.
Cereals; Millet, Seed Exports in China
In 2022, the amount of cereals; millet, seeds exported from China dropped remarkably to 766 tons, with a decrease of -37% compared with 2021 figures. Overall, exports continue to indicate a mild downturn. The pace of growth appeared the most rapid in 2021 with an increase of 58% against the previous year. As a result, the exports attained the peak of 1.2K tons, and then plummeted in the following year.
In value terms, cereals; millet, seed exports declined notably to $1.4M in 2022. In general, total exports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +15.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +52.4% against 2019 indices. The pace of growth was the most pronounced in 2021 when exports increased by 46% against the previous year. As a result, the exports reached the peak of $1.6M, and then contracted markedly in the following year.
| Export of Cereals; Millet, Seed in China (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 162 | 182 | 252 | 812 | 71.1% |
| United States | 11.2 | 110 | 137 | 272 | 189.6% |
| Canada | 69.0 | 53.8 | 73.1 | 90.1 | 9.3% |
| New Zealand | 30.4 | 16.5 | 38.2 | 72.9 | 33.8% |
| Australia | 145 | 134 | 13.6 | 34.0 | -38.3% |
| South Africa | 26.5 | 3.6 | N/A | 26.4 | -0.1% |
| Sri Lanka | 46.4 | 6.3 | 1.9 | 0.7 | -75.3% |
| Malaysia | 211 | 413 | 350 | N/A | 28.8% |
| Singapore | 123 | 158 | 195 | N/A | 25.9% |
| Others | 78.5 | 39.7 | 575 | 68.4 | -4.5% |
| Total | 903 | 1,118 | 1,635 | 1,376 | 15.1% |
Top Export Markets for Cereals; Millet, Seed from China in 2022:
- United Kingdom (509.2 tons)
- United States (106.4 tons)
- New Zealand (73.9 tons)
- Canada (35.0 tons)
- South Africa (21.8 tons)
- Australia (14.0 tons)
- Sri Lanka (0.9 tons)
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