China’s millet market sees flat-to-softer raw grain exports but double‑digit growth in processed products, with ASEAN overtaking Japan–Korea–Germany demand.
Prices
Chinese millet export prices are broadly steady with a mild firming bias at the high-quality end. In Beijing, hulled yellow millet kernels (99.95% purity, conventional, FOB) are quoted at EUR 0.88/kg, unchanged in recent updates, while organic hulled kernels (99.90% purity, FOB) have inched up to EUR 0.97/kg from EUR 0.96/kg this month, indicating selective strength for certified product.
Competitive pressure comes from Black Sea origins, where in Odesa inshell yellow millet seeds (98% purity, FCA) stand at EUR 0.36/kg and red millet seeds at EUR 0.37/kg, with hulled yellow kernels (98% purity, FCA) at EUR 0.62/kg. Polish hulled yellow millet (EXW, 99.95% purity, conventional) is indicated at EUR 0.75/kg, sitting between Ukrainian and Chinese offers. This keeps China’s role focused on premium, identity-preserved and food-grade segments rather than bulk feed or low-spec supply.
Supply & Demand
Feedback from market participants suggests China’s raw millet grain exports have stabilized at 5,000–7,000 t/year, effectively a sideways to slightly lower trend. If orders from Japan and South Korea recover, shipments could return toward 8,000 t/year, but absent that rebound, the base case is a flat-to-soft export pace. Should there be a domestic production shortfall or tightness in food-grade raw millet, export availability could drop below 4,000 t/year as local users outbid exporters.
The structure of demand is changing materially. The combined share of Japan, South Korea and Germany has fallen from about 50% to roughly 35% of China’s millet exports. ASEAN markets plus the UK and US are increasingly filling the gap, with Thailand and Indonesia now part of the first-tier destination group. RCEP-driven channel efficiencies in Southeast Asia have enabled some lanes to more than double, partly offsetting the slowdown in traditional developed markets.
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Fundamentals & Trade Flows
Processed millet products are now the clear export engine. Annual growth in processed volumes is running at around 10–20%, and certain RCEP corridors into Southeast Asia have seen exports doubling as distribution and labeling hurdles are cleared. At the same time, the earlier global health-food boom is fading; overseas demand growth has slipped to single digits, reducing the likelihood of sustained price spikes driven purely by lifestyle trends.
On the importers’ side, tighter EU regulations are narrowing the European channel, reinforcing the pivot toward Asian and Anglo-American markets. For exporters, this raises the bar on compliance and documentation for any remaining EU business, while making Southeast Asia the primary growth frontier. Given that total millet exports still account for less than 0.5% of China’s production, exports function more as a marginal outlet and a benchmark for top-grade lots than as a volume absorber.
Weather & Production Outlook (China)
Key millet areas around the Taihang Mountains and parts of Shanxi, including the Jinzhong region, are entering the cool late-autumn period with stable, dry weather. In Jinzhong, 7‑day forecasts show daytime highs mostly between 14°C and 18°C and nighttime lows around 0–2°C, with mainly sunny to partly cloudy conditions and only brief light rain episodes expected.
With harvest largely completed, near-term weather poses limited risk to 2026 production, but stable, dry conditions support post-harvest drying and storage quality. This should keep internal supply orderly and reduce the likelihood that short-term weather disruptions will trigger abrupt price moves in export-grade millet.
Trading Outlook
- Exporters in northern China should treat raw grain export business as incremental rather than core: with exports below 0.5% of output, focus on premium processed products where 10–20% annual growth and ASEAN demand offer firmer margins.
- Monitor Japan and South Korea tenders closely: a visible pickup in orders could pull raw grain exports back toward 8,000 t/year and modestly support FOB offers, especially for food-grade lots from Chifeng and the Taihang belt.
- EU-focused suppliers should reassess compliance costs versus returns as new regulations tighten; redeploying volumes toward Thailand, Indonesia, and other ASEAN buyers may yield better risk-adjusted realisations.
- Buyers in ASEAN and Anglo-American markets can leverage ample Chinese supply and strong competition from Ukraine and Poland to secure favorable terms, but should lock in premium lots early given steady processed-export growth.
3‑Day Price & Directional Indication
| Origin & Product | Location / Term | Latest Price (EUR/kg) | 3‑Day Outlook |
|---|---|---|---|
| Millet kernels, hulled yellow, 99.95% conventional | Beijing, CN / FOB | 0.88 | Stable; export demand steady, domestic supply comfortable. |
| Millet kernels, hulled yellow, 99.90% organic | Beijing, CN / FOB | 0.97 | Slightly firm tone after recent uptick; no sharp moves expected. |
| Millet seeds, inshell yellow, 98% conventional | Odesa, UA / FCA | 0.36 | Flat; competing origin pressure caps upside. |
| Millet kernels, hulled yellow, 98% conventional | Odesa, UA / FCA | 0.62 | Stable to slightly soft as Black Sea supply remains ample. |