ODESA: After the Chinese New Year, several Asian countries like Indonesia, Malaysia, Vietnam etc., have increased their imports of millets from the Black Sea region. They realised that Ukraine could not offer significant volumes of creamy millet this year and switched mainly to yellow and red.
During the winter period, bigger demand and low farmers’ activity made traders increase their purchasing prices and search the stocks in remote regions. An indicator of increased demand was that some shipments were made not in bags, as usual, but in bulk in containers.
This week yellow millet purchasing prices in Odesa increased up to 280-290 $/t. While for red millet, some traders are ready to give up to 300 $/t. Considering significant losses for 99% purity cleaning, bagged cargo is traded far over 400 $/T CFR.