ODESA: Ukrainian agrarians have harvested already almost 50% of millet areas. Despite the fact that this year Ukraine has reduced the territories under millet almost twice, farmers have already received almost 50 000 metric tons of grains. Traders and big agro holdings prefer to keep their stocks till winter, realizing that total shortage will sooner or later lead to a price increase. But the shortage of storage space and lack of working money made small farmers sell their stocks of millet quickly. It let to some price decrease in the short term.
EU is the biggest buyer of Ukrainian yellow and red millet for today. And offers to European ports varied from 500 $/t to 550 $/t. Now traders have reduced prices by 20-25$ to compete with EU local offers. As soon as CFR Prices reduce under 500 $/t, the demand from Indonesia and Malaysia will start to grow. So Ukrainian farmers will have a difficult choice – to keep the cargo expecting the world market to increase, or to sell the cargo at the prices that the buyers are offering.
The following reports may be of interest to you:
Related posts:
Current Situation of Chinese Hulled Millet 
Risk of Price Downturn Intensifies at Chinese Organic Hulled Millet Chinese Hulled Millet: Weak Market Demand 
Chinese Organic Hulled Millet: Downturn in the Market and The Risk of Falling prices 
Chinese Hulled Millet: New millet listing market is still sluggish 
Chinese Organic Hulled Millet: Lack of export orders 
Organic Chinese Hulled Millet: Late market price situation 
Spring sowing 2021 in Ukraine is coming to the end.