CIS: Non-Cane Molasses Market 2024

Non-Cane Molasses Market Size in CIS

In 2022, the CIS non-cane molasses market decreased by -3.3% to $X for the first time since 2018, thus ending a three-year rising trend. Over the period under review, consumption continues to indicate a mild curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 7.7% against the previous year. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Non-Cane Molasses Production in CIS

In value terms, non-cane molasses production totaled $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 12% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Non-Cane Molasses Exports

Exports in CIS

In 2022, the amount of molasses (excluding cane molasses) exported in the CIS surged to X tons, growing by 39% on the previous year. Total exports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 46%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, non-cane molasses exports skyrocketed to $X in 2022. Total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +57.6% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia represented the key exporter of molasses (excluding cane molasses) in the CIS, with the volume of exports reaching X tons, which was approx. 69% of total exports in 2022. It was distantly followed by Belarus (X tons), making up a 29% share of total exports. Moldova (X tons) held a relatively small share of total exports.

Russia experienced a relatively flat trend pattern with regard to volume of exports of molasses (excluding cane molasses). At the same time, Belarus (+25.7%) and Moldova (+3.7%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +25.7% from 2012-2022. While the share of Belarus (+25 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Russia (-22.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X), Belarus ($X) and Moldova ($X) were the countries with the highest levels of exports in 2022, with a combined 100% share of total exports.

Belarus, with a CAGR of +31.0%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, dropping by -1.8% against the previous year. Over the last decade, it increased at an average annual rate of +4.3%. The most prominent rate of growth was recorded in 2013 an increase of 48%. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Moldova ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Moldova (+4.6%), while the other leaders experienced more modest paces of growth.

Non-Cane Molasses Imports

Imports in CIS

In 2022, non-cane molasses imports in the CIS surged to X tons, with an increase of 180% against 2021. Overall, imports, however, continue to indicate a abrupt decline. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, non-cane molasses imports surged to $X in 2022. Over the period under review, imports, however, showed a abrupt descent. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Azerbaijan represented the main importer of molasses (excluding cane molasses) in the CIS, with the volume of imports recording X tons, which was near 54% of total imports in 2022. Uzbekistan (X tons) took a 16% share (based on physical terms) of total imports, which put it in second place, followed by Belarus (13%), Kazakhstan (7.5%) and Russia (7.1%). Kyrgyzstan (X tons) followed a long way behind the leaders.

Azerbaijan experienced a relatively flat trend pattern with regard to volume of imports of molasses (excluding cane molasses). At the same time, Kyrgyzstan (+104.6%) and Belarus (+45.4%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +104.6% from 2012-2022. Uzbekistan experienced a relatively flat trend pattern. By contrast, Russia (-21.4%) and Kazakhstan (-22.7%) illustrated a downward trend over the same period. While the share of Azerbaijan (+32 p.p.), Uzbekistan (+16 p.p.), Belarus (+13 p.p.) and Kyrgyzstan (+2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Russia (-25.3 p.p.) and Kazakhstan (-33 p.p.) displayed negative dynamics.

In value terms, Azerbaijan ($X) constitutes the largest market for imported molasses (excluding cane molasses) in the CIS, comprising 53% of total imports. The second position in the ranking was held by Russia ($X), with a 14% share of total imports. It was followed by Belarus, with a 13% share.

From 2012 to 2022, the average annual growth rate of value in Azerbaijan stood at +4.6%. The remaining importing countries recorded the following average annual rates of imports growth: Russia (-21.9% per year) and Belarus (+51.0% per year).

Import Prices by Country

The import price in the CIS stood at $X per ton in 2022, growing by 22% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 74% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat 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 Russia ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+7.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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