Millet market steadies as Indian bajra finds firm feed support
Millet market analysis June 2026: Indian bajra prices steady on firm feed and food demand; Chinese and Ukrainian export offers mildly firmer, outlook range-bound.
Prices & Spreads
In New Delhi’s wholesale market, bajra is quoted around USD 23.37 per quintal, with traders reporting mostly steady levels and little room for further declines from here. Arrivals are not heavy enough to pressure the market, and buyers are focusing on near-term requirements rather than building large stocks.
Recent export offers show a mildly firmer structure in hulled millet. Chinese organic hulled kernels FOB Beijing are indicated around EUR 0.87/kg, with conventional at about EUR 0.80/kg. Ukrainian hulled kernels FCA Odesa remain stable, with conventional material near EUR 0.67/kg and organic at roughly EUR 1.20/kg. Inshell millet seeds from Ukraine hold around EUR 0.51–0.52/kg, underlining the generally sideways tone.
Supply & Demand
In India, bajra supply is steady but not burdensome: arrivals are described as insufficient to generate strong downward pressure. Feed manufacturers and regular consuming centres are providing a solid demand base, particularly in regions where bajra remains part of traditional diets.
On the export side, Chinese and Ukrainian offers suggest that pipeline supply is adequate, yet sellers are not under pressure to discount further. The combination of resilient regional consumption in India and stable export supply from Black Sea and China is keeping the overall millet complex in equilibrium, with limited appetite for aggressive selling.
Market Fundamentals
Bajra’s dual use as a feed grain and staple food continues to underpin its floor. Feed demand is the key marginal driver: current offtake is enough to prevent weakness, and traders note that any improvement in feed sector buying could bring slight price firmness.
In export markets, the modest week-on-week uptick in Chinese hulled millet offers in both organic and conventional qualities points to improved bargaining power for sellers. Ukrainian prices, while stable, no longer show the easing trend seen earlier in the season, reinforcing the picture of a market that has likely found a near-term bottom.
Weather & Short-Term Outlook
With the Indian kharif season approaching, weather conditions over key bajra-growing belts will be watched closely, but for now the market focus remains on near-term demand rather than production risk. No immediate weather shock is reflected in current pricing.
Given the present balance of modest arrivals and steady consumption, most participants expect bajra and related millet products to trade in a narrow band. Any notable pickup in feed demand or localized logistical disruptions would likely translate first into small, gradual price gains rather than sharp spikes.
Trading Outlook & 3-Day View
- Buyers: Consider covering short-term needs promptly; downside from current bajra and millet price levels appears limited, while modest firmness is possible if feed demand strengthens.
- Sellers: With the market broadly supported, there is room to resist deeper discounts; look to scale sales on minor rallies, especially for higher-spec hulled and organic lots.
- Feed users: Evaluate partial forward coverage; current levels are still attractive relative to historical peaks, with risks skewed slightly to the upside.
Over the next three days, Indian bajra prices are likely to remain flat to slightly firmer in local currency terms. Chinese FOB Beijing millet offers should stay stable with a mild upward bias, while Ukrainian FCA/FOB Odesa prices are expected to hold largely unchanged, reflecting a calm but underpinned millet market.