Angola: Non-Cane Molasses Market 2024

Non-Cane Molasses Market Size in Angola

The Angolan non-cane molasses market reduced to $X in 2022, dropping by -5% against the previous year. Over the period under review, consumption showed a perceptible contraction. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Non-Cane Molasses Production in Angola

In value terms, non-cane molasses production contracted to $X in 2022 estimated in export price. In general, production saw a noticeable slump. The pace of growth appeared the most rapid in 2016 when the production volume increased by 78%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Non-Cane Molasses Exports

Exports from Angola

In 2022, exports of molasses (excluding cane molasses) from Angola contracted rapidly to X tons, waning by -18.4% compared with the previous year. Over the period under review, exports, however, showed a measured expansion. The pace of growth was the most pronounced in 2019 when exports increased by 355% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, non-cane molasses exports reduced sharply to $X in 2022. Overall, exports recorded a deep slump. The pace of growth appeared the most rapid in 2019 when exports increased by 209% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Democratic Republic of the Congo (X tons) was the main destination for non-cane molasses exports from Angola, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Democratic Republic of the Congo amounted to +4.8%.

In value terms, Democratic Republic of the Congo ($X) also remains the key foreign market for molasses (excluding cane molasses) exports from Angola.

From 2012 to 2022, the average annual rate of growth in terms of value to Democratic Republic of the Congo totaled -5.1%.

Export Prices by Country

In 2022, the average non-cane molasses export price amounted to $X per ton, which is down by -16.4% against the previous year. Overall, the export price recorded a drastic downturn. The growth pace was the most rapid in 2016 when the average export price increased by 51% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Democratic Republic of the Congo.

From 2012 to 2022, the rate of growth in terms of prices for Democratic Republic of the Congo amounted to -9.5% per year.

Non-Cane Molasses Imports

Imports into Angola

Non-cane molasses imports into Angola fell rapidly to X tons in 2022, reducing by -32.7% on the previous year. In general, imports recorded a abrupt descent. The pace of growth appeared the most rapid in 2021 with an increase of 201%. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, non-cane molasses imports plummeted to $X in 2022. Overall, imports showed a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of 348% against the previous year. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Namibia (X tons) constituted the largest non-cane molasses supplier to Angola, accounting for a 54% share of total imports. Moreover, non-cane molasses imports from Namibia exceeded the figures recorded by the second-largest supplier, Congo (X tons), threefold. The third position in this ranking was held by the United States (X tons), with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Namibia amounted to +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Congo (+2.9% per year) and the United States (+39.1% per year).

In value terms, Namibia ($X) constituted the largest supplier of molasses (excluding cane molasses) to Angola, comprising 51% of total imports. The second position in the ranking was taken by the United States ($X), with an 18% share of total imports. It was followed by Portugal, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Namibia amounted to +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+23.0% per year) and Portugal (-30.8% per year).

Import Prices by Country

The average non-cane molasses import price stood at $X per ton in 2022, with a decrease of -9.1% against the previous year. Over the period under review, the import price saw a abrupt decline. The pace of growth appeared the most rapid in 2021 when the average import price increased by 49% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Portugal ($X per ton), while the price for Congo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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