Millet is one of the earliest cultivated grains and has more than 6,000 varieties grown across the world. The grain is mainly used to make flatbreads, porridges, beer, and other fermented beverages. Lower quality millet is also often used for birdseed and other animal feeds.
The United States is expected to produce around 290 K tons of millet in the 2019 season, which is a 4% decrease from the 2018 season. The slight drop in production volume is mainly attributed to crop rotation, as millet is often grown in rotation with sorghum, groundnut, and cotton. White Proso Millet is one of the main millet varieties produced in the US. The main harvest season of White Proso Millet is from September to March.
On average, the US exports around 15% of its millet production per year, which is around 43.5 K tons. The main export markets for the US are Indonesia, Canada, China, and Thailand. Jaco Commodities has yet to export White Proso Millet. The company is expecting to start exporting its millet in 2019. The target export markets for the company are the Netherlands, the United Kingdom, Canada, and Japan. The demand for healthy grains is growing in these developed markets, as more consumers are adopting vegan and gluten-free diets. The global gluten-free market is expected to grow by more than 5% annually over the next decade, which is expected to increase the global demand of the grain.
The company offers low-quality feed-grade of 98% purity and high-quality food-grade of 99.95% purity for conventional or organic products. There is a growing trend for organic products in the millet market, and the company is Organic Certified. The White Proso Millet is also gluten-free, according to Jaco Commodities.
The farm gate prices for millet are around 7.00 USD - 8.00 USD per CWT (138 - 157 USD per ton). The main competition for US millet comes from India. Millet from the US is more expensive compared to Indian millet but is higher in quality in terms of purity and coloration.