Australia: Cane Molasses Market 2024

Cane Molasses Market Size in Australia

The Australian cane molasses market declined to $X in 2022, waning by X% against the previous year. Overall, consumption, however, saw tangible growth. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Cane Molasses Production in Australia

In value terms, cane molasses production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Cane molasses production peaked at $X in 2021, and then dropped in the following year.

Cane Molasses Exports

Exports from Australia

In 2022, shipments abroad of cane molasses increased by X% to X tons, rising for the third consecutive year after two years of decline. In general, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, cane molasses exports surged to $X in 2022. Overall, exports recorded a resilient increase. The pace of growth was the most pronounced in 2021 when exports increased by X%. The exports peaked in 2022 and are likely to see steady growth in years to come.

Exports by Country

New Zealand (X tons), South Korea (X tons) and the United States (X tons) were the main destinations of cane molasses exports from Australia, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, New Zealand ($X), South Korea ($X) and the United States ($X) appeared to be the largest markets for cane molasses exported from Australia worldwide, with a combined X% share of total exports.

In terms of the main countries of destination, South Korea, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average cane molasses export price amounted to $X per ton, rising by X% against the previous year. Overall, export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cane molasses export price increased by X% against 2017 indices. The growth pace was the most rapid in 2018 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were South Korea ($X per ton) and Thailand ($X per ton), while the average price for exports to New Zealand ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cane Molasses Imports

Imports into Australia

In 2022, supplies from abroad of cane molasses decreased by X% to X tons, falling for the third consecutive year after two years of growth. Overall, imports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, cane molasses imports dropped to $X in 2022. Over the period under review, imports, however, showed a strong increase. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Vietnam (X tons) constituted the largest supplier of cane molasses to Australia, accounting for a X% share of total imports. Moreover, cane molasses imports from Vietnam exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Vietnam stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Mozambique (X% per year).

In value terms, Vietnam ($X) constituted the largest supplier of cane molasses to Australia, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Vietnam stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Mozambique (X% per year).

Import Prices by Country

In 2022, the average cane molasses import price amounted to $X per ton, declining by X% against the previous year. In general, the import price continues to indicate a deep slump. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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