Millet Market Report: Stability Persists Amid Firm Demand and Balanced Supplies

The global millet market, with a special focus on Bajra (pearl millet), continues to demonstrate remarkable stability despite fluctuating arrivals across major trading hubs. In the key production state of Rajasthan, market activity has been notably even, with both Jaipur and Bikaner reporting steady prices and moderate trading volumes. Today’s market dynamics are underpinned by balanced stock levels and consistent demand from millers, a situation that has helped prices hold firm within established ranges. The absence of significant downward or upward movements signals robust demand-supply equilibrium, giving industry participants confidence in stability for at least the short term.

Furthermore, anecdotal evidence from the ground suggests that crop arrivals are adequate for prevailing requirements, while weather conditions have remained mostly favorable, minimizing the risk of sudden supply tightness. As industry analysts maintain a watchful eye on large-scale procurement activities and weather patterns, the outlook remains cautiously optimistic. Whether you are a trader, processor, or farmer, understanding the nuanced interplay of arrivals, regional weather, procurement strategies, and global benchmarks is crucial for effective market navigation.

📈 Prices: Latest Millet Market Levels

Product	Origin	Location	Delivery	Purity	Organic	Price (EUR/kg)	Previous Price (EUR/kg)	Update Date	Sentiment
Millet seeds (hulled, yellow)	UA	Odesa	FOB	–	No	0.18	0.19	2025-09-11	Steady/Soft
Millet kernels (hulled, yellow, 99.90% purity)	CN	Beijing	FOB	99.90%	Yes	0.82	0.82	2025-09-11	Stable
Millet kernels (hulled, yellow, 99.95% purity)	CN	Beijing	FOB	99.95%	No	0.74	0.74	2025-09-11	Stable

🌍 Supply & Demand Drivers

• India: Rajasthan remains the epicenter of Bajra arrivals, with Jaipur and Bikaner jointly receiving around 900 quintals today. Prices in Jaipur (₹2,300–₹2,700/quintal) and Bikaner (₹2,300/quintal) remain steady, supported by balanced procurement and moderate consumption from millers.
• Ukraine: Steady export offers from Odesa indicate plentiful availability. Flat prices in both inshell and hulled categories suggest little change in trade dynamics.
• China: Organic millet kernel prices in Beijing have remained unchanged, highlighting ongoing demand, especially for high-quality and organic grades.
• Stock & Procurement: Market participants in India are closely monitoring large buyer procurement, which could impact future price direction.
• Global Market Sentiment: With no significant supply shocks and continued good weather, market sentiment is broadly neutral to mildly bearish for low grades and stable for high-grade/organic.

📊 Fundamentals: Crop Data & Stocks

• India: On-year millet production is estimated at 10 million tonnes (crop year 2024/25), with Rajasthan contributing nearly 40% of output. Inventory levels are comfortable for current demand.
• Ukraine: Exportable stocks remain ample, with domestic consumption unchanged. FOB prices show softness mainly due to mild currency appreciation and harvest progress.
• China: Domestic stocks are steady; higher prices for organic millet reflect sustained international demand.
• Comparison to Recent Reports: Current price stability mirrors last month’s trends, with very limited movement since August. Offers have largely held while some nominal softness is observed in ex-Black Sea grades (e.g., Ukraine’s hulled millet, down 1 cent EUR/kg).

🌦️ Weather Outlook & Regional Crop Watch

• India (Rajasthan): Weather has been largely favorable, with no major disruptions reported. Monsoon withdrawal has been gradual, supporting late crop maturation and avoiding quality losses.
• Ukraine: No extreme weather events reported. September has seen above-average daytime temperatures, aiding drying and harvest completion.
• China: Millet growing regions in North China are experiencing typical autumn weather, positive for harvest operations, especially for organic producers.
• Net Effect: Absence of weather risks should keep regional supply chains fluid and support ongoing price stability.

🌐 World Production & Stock Comparison

Country	2024/25 Output (mt)	Stocks (mt)	Trend
India	10,000,000	2,000,000	Stable
China	2,200,000	800,000	Steady
Ukraine	600,000	120,000	Soft
Nigeria	5,500,000	1,000,000	Firm

📆 Trading Outlook & Recommendations

• Continue short-term holding strategies for regular grades, as stable prices benefit sellers with storage capacity.
• Buyers should monitor large procurement by processors/millers, which may signal upcoming volatility.
• For exporters, consider locking forward contracts for organic and premium grades, as international demand remains robust.
• Exchange rate movements (EUR/USD, INR/USD) may introduce price sensitivity in export offers, especially from Ukraine.
• No immediate supply-driven rally expected—traders should watch for any monsoon withdrawal delays in India as a trigger.

🔮 3-Day Price Forecast (Regional Key Hubs)

Region / Exchange	Current Price	Forecast (Day 1)	Forecast (Day 2)	Forecast (Day 3)	Sentiment
Rajasthan (Jaipur)	₹2,500/qtl	₹2,500/qtl	₹2,500/qtl	₹2,500/qtl	Stable
Ukraine (Millet hulled, FOB Odesa)	€0.18/kg	€0.18/kg	€0.18/kg	€0.18/kg	Slightly Soft
China (Organic millet, FOB Beijing)	€0.82/kg	€0.82/kg	€0.82/kg	€0.82/kg	Firm