Australia and Oceania: Molasse Market 2024

Molasse Market Size in Australia and Oceania

The molasse market in Australia and Oceania reduced markedly to $X in 2022, with a decrease of -46.7% against the previous year. Over the period under review, consumption continues to indicate a noticeable setback. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Molasse Production in Australia and Oceania

In value terms, molasse production totaled $X in 2022 estimated in export price. In general, production enjoyed a perceptible increase. The growth pace was the most rapid in 2013 with an increase of 410%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Molasse Exports

Exports in Australia and Oceania

In 2022, overseas shipments of molasses increased by 35% to X tons, rising for the third year in a row after two years of decline. Over the period under review, exports posted a notable expansion. The pace of growth was the most pronounced in 2021 with an increase of 72%. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, molasse exports soared to $X in 2022. Overall, exports posted resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 108%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

Australia was the largest exporter of molasses in Australia and Oceania, with the volume of exports accounting for X tons, which was near 85% of total exports in 2022. It was distantly followed by Fiji (X tons), generating a 15% share of total exports.

Australia experienced a relatively flat trend pattern with regard to volume of exports of molasses. At the same time, Fiji (+244.7%) displayed positive paces of growth. Moreover, Fiji emerged as the fastest-growing exporter exported in Australia and Oceania, with a CAGR of +244.7% from 2012-2022. From 2012 to 2022, the share of Fiji increased by +15 percentage points.

In value terms, Australia ($X) remains the largest molasse supplier in Australia and Oceania, comprising 84% of total exports. The second position in the ranking was taken by Fiji ($X), with a 15% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Australia totaled +6.0%.

Export Prices by Country

In 2022, the export price in Australia and Oceania amounted to $X per ton, picking up by 3.3% against the previous year. Export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +5.2% 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 +19.2% against 2018 indices. The pace of growth appeared the most rapid in 2018 when the export price increased by 38%. The level of export peaked in 2022 and is likely to continue growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+5.1%).

Molasse Imports

Imports in Australia and Oceania

For the fourth year in a row, Australia and Oceania recorded decline in overseas purchases of molasses, which decreased by -51.1% to X tons in 2022. In general, imports, however, saw moderate growth. The pace of growth was the most pronounced in 2018 when imports increased by 2,564%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, molasse imports dropped remarkably to $X in 2022. Over the period under review, imports, however, saw a tangible expansion. The growth pace was the most rapid in 2018 when imports increased by 980% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Australia was the key importer of molasses in Australia and Oceania, with the volume of imports amounting to X tons, which was approx. 67% of total imports in 2022. Solomon Islands (X tons) took a 10% share (based on physical terms) of total imports, which put it in second place, followed by French Polynesia (9.8%) and New Zealand (6.9%). New Caledonia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to molasse imports into Australia stood at +9.6%. At the same time, Solomon Islands (+31.7%), French Polynesia (+11.8%) and New Zealand (+8.3%) displayed positive paces of growth. Moreover, Solomon Islands emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +31.7% from 2012-2022. By contrast, New Caledonia (-17.5%) illustrated a downward trend over the same period. Australia (+27 p.p.), Solomon Islands (+9.1 p.p.), French Polynesia (+5 p.p.) and New Zealand (+2.3 p.p.) significantly strengthened its position in terms of the total imports, while New Caledonia saw its share reduced by -38.9% from 2012 to 2022, respectively.

In value terms, Australia ($X) constitutes the largest market for imported molasses in Australia and Oceania, comprising 70% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 14% share of total imports. It was followed by French Polynesia, with an 8.6% share.

In Australia, molasse imports increased at an average annual rate of +7.4% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: New Zealand (+8.8% per year) and French Polynesia (+10.4% per year).

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2022, declining by -15.9% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 119%. Over the period under review, import prices hit record highs 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 New Zealand ($X per ton), while Solomon Islands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Caledonia (+1.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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