Millet Prices In India Is Stable Due To Strong Consumption

Millet prices in India will hold it ground strongly. The new millet crop, harvested between September and October, has already seen 83% of its stock absorbed by consuming industries. At present, arrivals in major producing markets have completely stopped, as traders have already secured their stocks.

With eight months of consumption still remaining, the market is unlikely to face any significant price decline. Millet is primarily grown in Rajasthan, Uttar Pradesh, and Haryana, with additional production in Western Bihar and Madhya Pradesh. Although sowing was higher this year, previous stocks were already depleted, leading to quick sales from storage facilities within 15-20 days of arrival.

Meanwhile, distillery plant owners have been actively purchasing, preventing any significant stock buildup in the market.

Government Policies and Ethanol Demand Impacting Market

Since Makar Sankranti, the government has announced the sale of 2.4 million tonnes of rice to ethanol producers at USD 0,27 per kg, leading to reduced demand for millet in ethanol production. However, distillery plants remain without any millet stock, keeping demand firm.

Current Price Trends Across Regions

The impact of government policies and ethanol companies has already been accounted for, yet prices remain stable:

No New Millet Crop Before September – Market Likely to Stay Firm

The new crop will not arrive before September, while early Sathi millet from Agra-Mathura is only expected by June, which is still several months away.

Considering the low stock availability and stable demand, there is no need to panic-sell millet at current price levels. Market conditions suggest that prices will remain stable, with no risk of a further decline in the near future.