What is the price of millet per kilogram/pound in South Korea today?
The retail price range for South Korea millet is between US$ 8.40 and US$ 10.08 per kilogram or between US$ 3.81 and US$ 4.57 per pound(lb). Click here to see today's exact prices of millet in South Korea
The retail price range in South Korean won for millet is between KRW 11,200.73 and KRW 13,440.88 per kilogram or between KRW 5,079.70 and KRW 6,095.64 per pound(lb) in Seoul and Busan.
Wholesale prices
In 2024, the approximate wholesale price range for South Korea millet is between US$ 5.88 and US$ 7.06 per kilogram or between US$ 2.67 and US$ 3.20 per pound(lb).
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South Korea Millet Export Prices - Historical, Trends and Prediction
The export price per kilogram of Millet from South Korea has seen a significant increase over the last five years. In 2017, the price was 1.71 US$ per kg, and in 2021 it was 5.84 US$ per kg. The highest price was recorded in 2019, when it reached 7.88 US$ per kg. The price in 2020 was 4.43 US$ per kg, and in 2022 it was 7.14 US$ per kg. Based on the current trend, it is predicted that the export price of Millet from South Korea will be 8.45 US$ per kg in 2023 and 9.06 US$ per kg in 2024.The millet exports from South Korea are classified as:
- Millet seed for sowing (excluding grain sorghum) (HS code 100821)
- Millet (excluding grain sorghum, and seed for sowing) (HS code 100829)
- Millet (excluding grain sorghum) (HS code 100820)
South Korea Millet Import Prices - Historical, Trends and Prediction
The import price per kilogram of Millet into South Korea has seen a significant fluctuation over the last five years. In 2016, the price was recorded at $1.40, which was the lowest in the period. The price then increased to $2.04 in 2013, before reaching its peak of $7.88 in 2019. In 2020, the price dropped to $4.43, before increasing again to $5.84 in 2021. The most recent data shows that the import price per kilogram of Millet into South Korea is $7.14. Looking ahead, it is likely that the import price per kilogram of Millet into South Korea will continue to fluctuate. Based on the data, it is predicted that the price will increase to $8.14 in 2023 and $9.14 in 2024.Export values for South Korea millet
The total values in export for millet in South Korea were US$ 248, US$ 120, US$ 66 and US$ 63 in US dollar thousand for the years 2016, 2017, 2018 and 2019 in that order.
Prices of other produce in the Cereals/Grains category in South Korea: Wheat, Rye, Barley, Oats, Maize, Rice, Sorghum, Buckwheet, Canary seed & Fonio.
See prices of millet in other countries across Asia: Kazakhstan millet, Kyrgyzstan millet, Tajikistan millet, Turkmenistan millet, Uzbekistan millet, China millet, Hong Kong millet, Macao millet, North Korea millet & Mongolia millet.
South Korea millet - Production, Exports, Imports, Seasons and HS Codes
The quantity of millet shipped by South Korea in 2020 was 21 metric tons. In 2019 South Korea shipped 8 tonnes of millet. Across 2019 alone, the market for South Korea millet (cereals/grains category) has shrunk, changing by -66.667 percent compared to the year 2018. Between 2017 and 2019, millet's exports reduced by -88.57 percent netting the country US$0.06m for the year 2019. South Korea's millet exports are categorised as:
- Millet (excluding grain sorghum) (HS code 100820)
- Millet seed for sowing (excluding grain sorghum) (HS code 100821)
- Millet (excluding grain sorghum, and seed for sowing) (HS code 100829)
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South Korea millet export values
In 2019, South Korea supplied millet valued at 0.06m USD, a contraction of -9.09% from 2018's total millet export of 0.066m USD. The yearly reduction in value of South Korea millet between 2017 to 2018 was -45 percent.
The annual/yearly change in the volume of South Korea's millet exports between 2017 and 2019 was -88.57% compared to a variation of -66.667% in the period between 2018 and 2019.
South Korea's stake of the world's total millet's exports in 2019 was 2.7%. South Korea holds position 13 in world exports of millet.
Export markets for South Korea millet ( in '000$ )
South Korea's top destinations for millet are US, Canada, Japan, United Kingdom (UK) and Nicaragua.
Import/Export Trends
South Korea is a net exporter of millet. The annual growth of South Korea millet in value between 2015 to 2019 was -3%, per annum, while annual growth in quantity during the same period was -7%, per annum.
South Korea bought 12,038 tonnes of millet in 2019.
Production
The production of millet in South Korea was 3,000 tonnes in 2019 and is forecast to change by an average of -25.04%. The country had approximately 3,000.00 hectares under millet cultivation.