Grains - Grains

Millet: upbeat expectations in China

July 3, 2024 at 12:05 PM , Der AUDITOR
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DALIAN/BRUSSELS. Production prospects are highly encouraging for millet in China. Although Ukraine is the main supplier for the EU, the bloc still heavily relies on Russia as recent import figures show. Sowing in Ukraine has missed the target.

Encouraging crop in China

As the prospects for the new crop are good the pressure is on for producers and traders to sell their old stocks. Trouble, however, is that demand is lacking. Although prices are expected to decline, the current rates may seem rather surprising.

Hulled conventional yellow millet is trading at USD 1,240/mt FOB Dalian and organic millet at USD 1,320/mt FOB Dalian. Prices thereby range on a similar level is in the last few weeks. One issue is that higher freight rates have driven up shipment prices.

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