Rising Millet Supply in October Signals a Likely Price Decline

In mid to late October, the market for millet is seeing a significant increase in new season grain supplies, with an estimated 20-30% rise in availability this week alone. As storage stock enters the market and new shipments are prepared, supply has outpaced demand, leading to reduced buyer enthusiasm and a likely drop in prices before the end of October.

Supply Surge in Millet Market

The latest data from Dalian indicates that millet supplies have increased notably in October. With the arrival of new grain sources and some stored product being released for sale, the market now has a surplus compared to the existing demand. This rise in supply is expected to continue through the end of the month, placing additional pressure on millet prices.

Declining Demand Weakens Market

As the month progresses, demand for millet is gradually shrinking. The original grain usage is forecasted to decrease, and there is less interest in replenishment from buyers. This drop in demand, combined with the surge in supply, is creating a situation where millet prices are more likely to decline.

Price Outlook: Larger Declines Expected

With the new grain supply concentrated in mid to late October, the likelihood of a significant price drop increases. The gap between supply and demand could widen further as the month continues, offering buyers a greater chance to negotiate lower prices.

Current Market Price in FOB China for Chinese Hulled millet





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