Asia: Molasse Market 2024

Molasse Market Size in Asia

In 2022, the Asian molasse market decreased by -0.1% to $X, falling for the third consecutive year after three years of growth. Over the period under review, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Molasse Production in Asia

In value terms, molasse production reduced modestly to $X in 2022 estimated in export price. Overall, production showed a pronounced descent. The pace of growth appeared the most rapid in 2015 with an increase of 99%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Molasse Exports

Exports in Asia

Molasse exports was estimated at X tons in 2022, growing by 12% compared with the year before. Total exports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +132.3% against 2017 indices. The pace of growth was the most pronounced in 2018 when exports increased by 39% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, molasse exports skyrocketed to $X in 2022. In general, exports recorded a strong expansion. The pace of growth was the most pronounced in 2019 with an increase of 57% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

India represented the main exporting country with an export of around X tons, which accounted for 60% of total exports. Indonesia (X tons) held the second position in the ranking, distantly followed by Thailand (X tons). All these countries together held near 32% share of total exports.

India was also the fastest-growing in terms of the molasses exports, with a CAGR of +15.5% from 2012 to 2022. At the same time, Indonesia (+6.8%) displayed positive paces of growth. By contrast, Thailand (-16.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India and Indonesia increased by +42 and +9.7 percentage points, respectively.

In value terms, the largest molasse supplying countries in Asia were India ($X), Indonesia ($X) and Thailand ($X), with a combined 90% share of total exports.

India, with a CAGR of +20.1%, recorded the highest growth rate of 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 Asia amounted to $X per ton, surging by 13% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +5.2%. The most prominent rate of growth was recorded in 2013 an increase of 23% against the previous year. Over the period under review, the export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+7.4%), while the other leaders experienced more modest paces of growth.

Molasse Imports

Imports in Asia

In 2022, after three years of growth, there was decline in purchases abroad of molasses, when their volume decreased by -2.8% to X tons. Overall, imports, however, showed a mild expansion. The most prominent rate of growth was recorded in 2016 with an increase of 27%. The volume of import peaked at X tons in 2021, and then dropped modestly in the following year.

In value terms, molasse imports expanded notably to $X in 2022. Total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +82.3% against 2018 indices. The growth pace was the most rapid in 2019 when imports increased by 39%. The level of import peaked in 2022 and is likely to continue growth in the near future.

Imports by Country

In 2022, the Philippines (X tons), distantly followed by South Korea (X tons), Turkey (X tons), Vietnam (X tons), Thailand (X tons) and Japan (X tons) represented the largest importers of molasses, together generating 88% of total imports. Indonesia (X tons) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +32.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), South Korea ($X) and Turkey ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 65% share of total imports.

The Philippines, with a CAGR of +42.1%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, growing by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.4%. The pace of growth appeared the most rapid in 2020 when the import price increased by 15% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while Vietnam ($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

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