Australia and Oceania: Non-Cane Molasses Market 2024

Non-Cane Molasses Market Size in Australia and Oceania

The non-cane molasses market in Australia and Oceania was estimated at $X in 2022, approximately reflecting the previous year. The market value increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Non-Cane Molasses Production in Australia and Oceania

In value terms, non-cane molasses production reached $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 35% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Non-Cane Molasses Exports

Exports in Australia and Oceania

In 2022, the amount of molasses (excluding cane molasses) exported in Australia and Oceania fell rapidly to X tons, which is down by -35.8% against 2021. Overall, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 252% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-cane molasses exports reduced rapidly to $X in 2022. In general, exports saw a drastic downturn. The most prominent rate of growth was recorded in 2014 with an increase of 999%. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, New Zealand (X tons) represented the main exporter of molasses (excluding cane molasses), creating 65% of total exports. It was distantly followed by Australia (X tons), mixing up a 35% share of total exports.

From 2012 to 2022, the biggest increases were recorded for New Zealand (with a CAGR of +33.2%).

In value terms, the largest non-cane molasses supplying countries in Australia and Oceania were New Zealand ($X) and Australia ($X).

In terms of the main exporting countries, New Zealand, with a CAGR of +33.8%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in Australia and Oceania amounted to $X per ton, falling by -5.8% against the previous year. Over the period under review, the export price showed a perceptible setback. The pace of growth was the most pronounced in 2014 an increase of 212% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per ton), while New Zealand totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+0.4%).

Non-Cane Molasses Imports

Imports in Australia and Oceania

In 2022, overseas purchases of molasses (excluding cane molasses) decreased by -79.9% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 174% against the previous year. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, non-cane molasses imports reduced notably to $X in 2022. Overall, imports, however, saw a mild expansion. The growth pace was the most rapid in 2020 with an increase of 107%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Australia (X tons) and Solomon Islands (X tons) were the key importers of molasses (excluding cane molasses) in Australia and Oceania, together resulting at near 76% of total imports. New Zealand (X tons) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by French Polynesia (5%). The following importers - Guam (X tons) and Vanuatu (X tons) - each reached a 4.6% share 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 Solomon Islands (with a CAGR of +75.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) constitutes the largest market for imported molasses (excluding cane molasses) in Australia and Oceania, comprising 65% of total imports. The second position in the ranking was held by New Zealand ($X), with a 21% share of total imports. It was followed by Solomon Islands, with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Australia was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: New Zealand (+10.0% per year) and Solomon Islands (+34.5% per year).

Import Prices by Country

In 2022, the import price in Australia and Oceania amounted to $X per ton, increasing by 8.2% against the previous year. Import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-cane molasses import price increased by +89.4% against 2019 indices. The growth pace was the most rapid in 2021 when the import price increased by 52% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 Australia ($X per ton), while Solomon Islands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guam (+9.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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