Asia-Pacific: Molasse Market 2024

Molasse Market Size in Asia-Pacific

The Asia-Pacific molasse market fell to $X in 2022, declining by -4.6% against the previous year. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Molasse Production in Asia-Pacific

In value terms, molasse production reached $X in 2022 estimated in export price. Overall, production continues to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2015 when the production volume increased by 106% against the previous year. 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-Pacific

In 2022, molasse exports in Asia-Pacific soared to X tons, with an increase of 19% against 2021. Total exports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +2.6% 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 +98.3% against 2017 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 35%. The volume of export peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, molasse exports skyrocketed to $X in 2022. Overall, exports showed prominent growth. The most prominent rate of growth was recorded in 2019 when exports increased by 44%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

Exports by Country

In 2022, India (X tons) represented the main exporter of molasses, achieving 53% of total exports. Indonesia (X tons) ranks second in terms of the total exports with a 24% share, followed by Australia (13%) and Thailand (4.9%). Fiji (X tons) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to molasse exports from India stood at +15.5%. At the same time, Fiji (+244.7%) and Indonesia (+6.8%) displayed positive paces of growth. Moreover, Fiji emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +244.7% from 2012-2022. Australia experienced a relatively flat trend pattern. By contrast, Thailand (-16.7%) illustrated a downward trend over the same period. India (+37 p.p.), Indonesia (+7.8 p.p.) and Fiji (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while Australia and Thailand saw its share reduced by -2.2% and -34.5% from 2012 to 2022, respectively.

In value terms, India ($X), Indonesia ($X) and Australia ($X) constituted the countries with the highest levels of exports in 2022, with a combined 88% share of total exports. Thailand and Fiji lagged somewhat behind, together accounting for a further 6.9%.

Among the main exporting countries, Fiji, with a CAGR of +241.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, increasing by 12% against the previous year. Over the last decade, it increased at an average annual rate of +5.6%. The most prominent rate of growth was recorded in 2013 when the export price increased by 22% 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 years to come.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Indonesia ($X per ton) and Fiji ($X per ton), while India ($X per ton) and Thailand ($X per ton) were 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-Pacific

After three years of growth, supplies from abroad of molasses decreased by -11.9% to X tons in 2022. The total import volume increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when imports increased by 24% against the previous year. The volume of import peaked at X tons in 2021, and then fell in the following year.

In value terms, molasse imports contracted to $X in 2022. Total imports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.9% 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 +65.5% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of 34%. The level of import peaked at $X in 2021, and then shrank modestly in the following year.

Imports by Country

In 2022, the Philippines (X tons), distantly followed by South Korea (X tons), Vietnam (X tons), Thailand (X tons), Japan (X tons), Indonesia (X tons) and Taiwan (Chinese) (X tons) were the major importers of molasses, together making up 97% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main 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 largest molasse importing markets in Asia-Pacific were the Philippines ($X), South Korea ($X) and Vietnam ($X), together accounting for 71% of total imports.

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

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, with an increase of 8.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.7%. The most prominent rate of growth was recorded in 2013 when the import price increased by 15% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

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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