ASEAN: Molasse Market 2024

Molasse Market Size in ASEAN

The ASEAN molasse market shrank to $X in 2022, falling by -13.7% against the previous year. The total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +7.7% against 2020 indices. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Molasse Production in ASEAN

In value terms, molasse production dropped slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 29% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Molasse Exports

Exports in ASEAN

In 2022, after two years of decline, there was significant growth in shipments abroad of molasses, when their volume increased by 33% to X tons. Over the period under review, exports, however, continue to indicate a noticeable decrease. The pace of growth was the most pronounced in 2019 with an increase of 37% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, molasse exports skyrocketed to $X in 2022. Total exports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 with an increase of 74%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Indonesia was the main exporting country with an export of around X tons, which accounted for 74% of total exports. It was distantly followed by Thailand (X tons), achieving a 15% share of total exports. Myanmar (X tons), Lao People's Democratic Republic (X tons), Cambodia (X tons) and Vietnam (X tons) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to molasse exports from Indonesia stood at +6.8%. At the same time, Cambodia (+37.2%) and Lao People's Democratic Republic (+7.3%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +37.2% from 2012-2022. By contrast, Vietnam (-11.7%), Thailand (-16.7%) and Myanmar (-32.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Indonesia, Myanmar, Lao People's Democratic Republic and Cambodia increased by +50, +3.4, +2.1 and +2 percentage points, respectively.

In value terms, Indonesia ($X) remains the largest molasse supplier in ASEAN, comprising 76% of total exports. The second position in the ranking was taken by Thailand ($X), with a 13% share of total exports. It was followed by Cambodia, with a 3% share.

From 2012 to 2022, the average annual growth rate of value in Indonesia stood at +12.9%. In the other countries, the average annual rates were as follows: Thailand (-10.6% per year) and Cambodia (+45.4% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, increasing by 14% against the previous year. Export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, molasse export price increased by +66.5% against 2018 indices. The growth pace was the most rapid in 2013 an increase of 29%. Over the period under review, the export prices hit record highs in 2022 and is likely to see steady growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+21.5%), while the other leaders experienced more modest paces of growth.

Molasse Imports

Imports in ASEAN

In 2022, overseas purchases of molasses decreased by -17.3% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, posted prominent growth. The pace of growth appeared the most rapid in 2016 when imports increased by 128%. Over the period under review, imports reached the maximum at X tons in 2021, and then shrank sharply in the following year.

In value terms, molasse imports declined to $X in 2022. Overall, imports, however, continue to indicate a prominent increase. The growth pace was the most rapid in 2016 when imports increased by 128% against the previous year. The level of import peaked at $X in 2021, and then shrank in the following year.

Imports by Country

The Philippines was the major importing country with an import of about X tons, which recorded 51% of total imports. Vietnam (X tons) ranks second in terms of the total imports with a 29% share, followed by Thailand (11%) and Indonesia (7.2%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Philippines (with a CAGR of +32.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X) constitutes the largest market for imported molasses in ASEAN, comprising 56% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 20% share of total imports. It was followed by Thailand, with an 11% share.

In the Philippines, molasse imports increased at an average annual rate of +42.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (+3.0% per year) and Thailand (+18.9% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, picking up by 8.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. The pace of growth was the most pronounced in 2014 an increase of 14%. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, 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 the Philippines (+7.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform