Ukrainian farmers who sow millet in 2023 had a bad experience and don’t want to sow millet again.
- Looking at purchasing prices for yellow millet in Ukraine now is 170-180usd/t on CPT basis – we can observe a fall in price during the season by 100-120usd/t.
- Farmers, who decided to keep their stocks till spring, are definitely going to kick themselves for this.
- Price for millets was gradually decreasing whole season and dropped in June.
- Even active demand from Indonesia for July shipment, due to the problems with import of Russian origin millets, didn’t make the price increase.
- The demand prices from there are still at the level of 310-330usd/t CFR and not higher.
Considering such prices, Ukrainian farmers sowed 69.7 thousand hectares of millet this year. While last year the area under this crop was 89.1 thousand hectares. As a result, Ukraine expects a significant reduction of millet harvest and we can observe price increase already by the end of the summer.