Analysis of China's Foxtail Millet and Sorghum Market in 2023 and Outlook in 2024
In 2023,under the influence of multiple factors such as substitution of grain crops,frequent extreme weather,tightening international situation and frequent emergencies,the planting area of foxtail millet and proso millet declined slightly,and the area of sorghum increased slightly.Throughout the year,due to the strong market supply and weak demand and risk expectations,the price fluctuated frequently;foxtail millet exports surged and sorghum imports slowed;the scientific and technological innovation vitality of foxtail millet and sorghum seed industry is gradually enhanced,and the variety iteration is gradually upgraded.It was expected that the risks and opportunities of the domestic foxtail millet and sorghum market will continue to coexist in 2024,with a double increase in supply and demand,but the increase is limited;the new and old grain in the domestic foxtail millet market continues to superposition,and the market supply pressure will further increase;affected by global supply chain uncertainty and high import dependence,international sorghum prices are at great risk of volatility,and domestic sorghum is expected to continue to expand.Based on this,it was suggested to further ensure the safe,healthy and sustainable development of the industry,strengthen monitoring and early warning,improve the policy support system,establish a modern product sales system,and stimulate the vitality of industrial competition.