ASEAN: Non-Cane Molasses Market 2024

Non-Cane Molasses Market Size in ASEAN

The ASEAN non-cane molasses market shrank to $X in 2022, approximately equating the previous year. In general, consumption, however, showed a perceptible slump. The pace of growth appeared the most rapid in 2018 when the market value increased by 6.3%. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Non-Cane Molasses Production in ASEAN

In value terms, non-cane molasses production fell to $X in 2022 estimated in export price. Over the period under review, production, however, saw a perceptible contraction. The pace of growth was the most pronounced in 2018 when the production volume increased by 5.6% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Non-Cane Molasses Exports

Exports in ASEAN

In 2022, shipments abroad of molasses (excluding cane molasses) was finally on the rise to reach X tons after two years of decline. In general, exports, however, showed a abrupt setback. The growth pace was the most rapid in 2019 when exports increased by 805% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, non-cane molasses exports rose rapidly to $X in 2022. Over the period under review, exports, however, saw a noticeable downturn. The pace of growth was the most pronounced in 2019 with an increase of 98% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Thailand (X tons) and Malaysia (X tons) represented the key exporters of molasses (excluding cane molasses) in 2022, reaching near 40% and 37% of total exports, respectively. Indonesia (X tons) took the next position in the ranking, followed by Vietnam (X tons). All these countries together took near 22% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Malaysia (with a CAGR of +8.7%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest non-cane molasses supplying countries in ASEAN were Indonesia ($X), Thailand ($X) and Malaysia ($X), together accounting for 98% of total exports.

Malaysia, with a CAGR of +15.1%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, dropping by -25.8% against the previous year. In general, the export price, however, showed a resilient increase. The pace of growth appeared the most rapid in 2020 when the export price increased by 372%. Over the period under review, the export prices reached the maximum at $X per ton in 2021, and then shrank markedly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+6.0%), while the other leaders experienced more modest paces of growth.

Non-Cane Molasses Imports

Imports in ASEAN

In 2022, purchases abroad of molasses (excluding cane molasses) was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, continue to indicate a pronounced decline. The growth pace was the most rapid in 2017 with an increase of 28%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, non-cane molasses imports stood at $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 18%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Indonesia (X tons) was the major importer of molasses (excluding cane molasses), constituting 57% of total imports. Vietnam (X tons) held a 31% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (12%).

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +24.8%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the largest non-cane molasses importing markets in ASEAN were Indonesia ($X), Malaysia ($X) and Vietnam ($X), with a combined 96% share of total imports.

In terms of the main importing countries, Malaysia, with a CAGR of +16.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, with an increase of 2.7% against the previous year. Over the last decade, it increased at an average annual rate of +4.2%. The growth pace was the most rapid in 2020 when the import price increased by 24%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Malaysia ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+3.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform