TIANJIN – The main hulled millet-producing areas of Inner Mongolia, Liaoning, and Chaoyang have high temperatures, and the demand for hulled millet is weak at the end. Exporters move goods slowly, and the replenishment volume is small. There are almost no new orders from the millet hulling factories. The factory opening rate remains low, the phenomenon of phased production is common, and some factories use this period to maintain and improve their equipment.
The consumption of the annual output of 2020 raw millet is insufficient. Most of the inventory is controlled by small size traders at lots within 200 tons. The replenishment enthusiasm is poor, and the downstream demand has no pull on the market.
Grain merchants in producing areas also complained about the slow market and stopped purchasing raw materials because there are no orders. During June, they started to cut prices. The price comparison between the beginning of June and the end of June in the hulled millet region is shown in the following table.
Current market price in FOB China for hulled millet
|Region||Product||Price early June||Price end June||Average change|
|Inner Mongolia||Hulled Millet||1.22-1.28 USD/kg||1.20-1.26 USD/kg||-0.025 USD/kg|
|Liaoning||Hulled Millet||1.20-1.21 USD/kg||1.16||-0.05 USD/kg|
|Chaoyang||Hulled Millet||1.20 USD/kg||1.14-1.18 USD/kg||-0.05 USD/kg|