Australia: Molasse Market 2024

Molasse Market Size in Australia

The Australian molasse market declined to $X in 2022, waning by -5.7% against the previous year. Over the period under review, consumption, however, enjoyed a temperate increase. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Molasse Production in Australia

In value terms, molasse production rose to $X in 2022 estimated in export price. Over the period under review, the total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -17.2% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of 66%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Molasse Exports

Exports from Australia

In 2022, overseas shipments of molasses increased by 15% to X tons, rising for the third year in a row after two years of decline. In general, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 72% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, molasse exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate buoyant growth. The pace of growth was the most pronounced in 2021 with an increase of 111% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.

Exports by Country

New Zealand (X tons), South Korea (X tons) and the United States (X tons) were the main destinations of molasse exports from Australia, with a combined 96% share of total exports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +10.4%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for molasse exported from Australia were New Zealand ($X), South Korea ($X) and the United States ($X), with a combined 96% share of total exports.

In terms of the main countries of destination, South Korea, with a CAGR of +17.4%, 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 molasse export price amounted to $X per ton, surging by 2.7% against the previous year. In general, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +5.1% 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 +74.7% against 2017 indices. The growth pace was the most rapid in 2018 when the average export price increased by 36% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to 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 (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Molasse Imports

Imports into Australia

In 2022, overseas purchases of molasses decreased by -14.5% to X tons, falling for the third year in a row after two years of growth. Over the period under review, imports, however, continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2019 with an increase of 700% 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, molasse imports contracted to $X in 2022. In general, imports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 387%. Over the period under review, imports hit record highs 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 molasse to Australia, with a 75% share of total imports. Moreover, molasse imports from Vietnam exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold. South Africa (X tons) ranked third in terms of total imports with a 4% share.

From 2012 to 2022, the average annual growth rate of volume from Vietnam stood at +80.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-6.7% per year) and South Africa (+4.7% per year).

In value terms, Vietnam ($X) constituted the largest supplier of molasses to Australia, comprising 40% of total imports. The second position in the ranking was held by Lebanon ($X), with a 14% share of total imports. It was followed by India, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Vietnam amounted to +102.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Lebanon (+10.0% per year) and India (+0.7% per year).

Import Prices by Country

In 2022, the average molasse import price amounted to $X per ton, picking up by 6.3% against the previous year. Over the period under review, the import price, however, recorded a perceptible shrinkage. The growth pace was the most rapid in 2015 an increase of 122%. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Lebanon ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lebanon (+18.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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