As the new season of millet enters its centralized harvest period, market participants are bracing for a drop in prices. Despite some downstream demand, supply far exceeds demand, putting pressure on prices as harvest activity picks up.

Millet Harvest Enters Full Swing

According to feedback from market participants, the main millet-producing areas are about to enter the peak harvest season. Many farmers are continuing to ship their millet to the market, leading to a steady increase in supply throughout the circulation chain. While demand remains, it is notably weaker than the abundant supply, setting the stage for potential price drops.

Price Drop Expected as Supply Outpaces Demand

With an increasing supply chain, experts predict that new season millet prices could fall further next week. The combination of high supply and lower-than-expected downstream demand is likely to drive prices down. As the weather clears and harvest activities ramp up, more millet will flood the market, increasing the likelihood of a price drop.

Farmers Hesitant to Sell as Prices Fall

Despite the increased supply, some farmers are reluctant to sell at current prices. Their hesitation may offer a degree of support for prices in the short term. However, as acquisition costs potentially decline, farmers may be forced to sell, further increasing supply and reinforcing downward pressure on prices.

Conclusion: Millet Prices Under Pressure

As the centralized harvest period begins and supply builds, the millet market is likely to experience a decline in prices. With demand remaining lower than expected, the upcoming weeks will be crucial for determining how far prices will fall. Market participants should stay alert to any shifts in supply and demand dynamics.





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