China: Non-Cane Molasses Market 2024

Non-Cane Molasses Market Size in China

The Chinese non-cane molasses market expanded to $X in 2022, surging by 4.4% against the previous year. Overall, consumption, however, continues to indicate a perceptible descent. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Non-Cane Molasses Production in China

In value terms, non-cane molasses production rose remarkably to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a pronounced reduction. The growth pace was the most rapid in 2020 with an increase of 26% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Non-Cane Molasses Exports

Exports from China

Non-cane molasses exports from China reduced markedly to X tons in 2021, dropping by -44.3% on the previous year's figure. Over the period under review, exports continue to indicate a sharp decrease. The most prominent rate of growth was recorded in 2014 with an increase of 389% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, non-cane molasses exports rose significantly to $X in 2021. In general, exports showed a dramatic decrease. The growth pace was the most rapid in 2014 with an increase of 385%. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons) was the main destination for non-cane molasses exports from China, with a 78% share of total exports. Moreover, non-cane molasses exports to Indonesia exceeded the volume sent to the second major destination, Kiribati (X tons), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Indonesia was relatively modest.

In value terms, Indonesia ($X) emerged as the key foreign market for molasses (excluding cane molasses) exports from China, comprising 70% of total exports. The second position in the ranking was taken by Kiribati ($X), with a 30% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Indonesia was relatively modest.

Export Prices by Country

The average non-cane molasses export price stood at $X per ton in 2021, rising by 102% against the previous year. Overall, the export price recorded a temperate expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kiribati ($X per ton), while the average price for exports to Indonesia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Myanmar (+59.8%), while the prices for the other major destinations experienced a decline.

Non-Cane Molasses Imports

Imports into China

In 2019, supplies from abroad of molasses (excluding cane molasses) decreased by -58.1% to X tons for the first time since 2013, thus ending a five-year rising trend. In general, imports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of 214%. Over the period under review, imports attained the peak figure at X tons in 2018, and then shrank markedly in the following year.

In value terms, non-cane molasses imports fell dramatically to $X in 2019. Overall, imports continue to indicate a slight descent. The most prominent rate of growth was recorded in 2015 when imports increased by 217%. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2019, imports failed to regain momentum.

Imports by Country

In 2019, Taiwan (Chinese) (X tons) constituted the largest non-cane molasses supplier to China, accounting for a 43% share of total imports. Moreover, non-cane molasses imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fourfold. New Zealand (X tons) ranked third in terms of total imports with an 8.2% share.

From 2012 to 2019, the average annual growth rate of volume from Taiwan (Chinese) stood at +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+0.5% per year) and New Zealand (-18.7% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of molasses (excluding cane molasses) to China, comprising 60% of total imports. The second position in the ranking was taken by New Zealand ($X), with an 18% share of total imports. It was followed by Hong Kong SAR, with a 6.4% share.

From 2012 to 2019, the average annual rate of growth in terms of value from Taiwan (Chinese) stood at -4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (-20.8% per year) and Hong Kong SAR (0.0% per year).

Import Prices by Country

The average non-cane molasses import price stood at $X per ton in 2019, with a decrease of -3.2% against the previous year. In general, the import price showed a abrupt curtailment. The pace of growth was the most pronounced in 2017 an increase of 25%. The import price peaked at $X per ton in 2013; however, from 2014 to 2019, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2019, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2019, the most notable rate of growth in terms of prices was attained by the United States (+105.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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