📊 Navigating the Waves of Change: Millet Market Dynamics and Future Projections
The millet market is currently experiencing significant fluctuations, influenced by a variety of factors including government policies, seasonal harvests, and global trade dynamics. In Gujarat, a slight increase in millet production is anticipated due to favorable prices, yet challenges persist in storage and timely sales, affecting farmer revenues and market stability.
Government interventions, such as the support price of USD 31.44 plus a bonus, aim to stabilize the market, but the effectiveness depends on timely purchases. Market prices are showing a downward trend due to increased supply, with potential further declines expected in key regions. The export market remains sluggish, providing little support to elevate prices.
As we look towards the future, the millet market’s resilience will be tested by these evolving dynamics, making it crucial for stakeholders to stay informed and agile in their strategies.
Exclusive Offers on CMBroker
Millet seeds
hulled, yellow
FOB 0.19 €/kg
(from UA)
Millet kernels
hulled, yellow
99.90%
FOB 0.87 €/kg
(from CN)
Millet kernels
hulled, yellow
99.95%
FOB 0.79 €/kg
(from CN)
📈 Current Market Prices and Trends
| Product | Price (USD) | Previous Price (USD) | Location |
|---|---|---|---|
| Millet seeds (hulled, yellow) | 0.19 | 0.19 | Odesa, UA |
| Millet kernels (organic, hulled, yellow) | 0.87 | 0.85 | Beijing, CN |
| Millet kernels (hulled, yellow) | 0.79 | 0.77 | Beijing, CN |
📉 Market Drivers and Insights
- Increased cultivation in Gujarat due to high prices.
- Government support prices and bonuses to encourage farmer participation.
- Storage challenges and delayed sales impacting market prices.
- Low export demand contributing to price pressures.
🌦️ Weather Forecast and Its Impact
The upcoming weather conditions in key millet producing areas are expected to be predominantly dry, potentially affecting the moisture content and yield of the harvest. This could lead to a tighter supply in the market, possibly stabilizing prices if demand remains constant.
🔮 Price Forecast and Trading Recommendations
- Buyers: Monitor the market closely for any significant dips in prices, particularly in early June when prices are expected to be lowest.
- Sellers: Consider holding onto stock until the market shows signs of recovery. Utilize government support schemes effectively.
- Traders: Keep an eye on weather patterns and government purchase updates, as these will be crucial in shaping market trends.
📉 3-Day Price Forecast
Prices are expected to fluctuate between Rs 450 to Rs 460 per 20 kg in the coming days, with potential dips influenced by increased harvest arrivals and ongoing market pressures.
