Croatia: Non-Cane Molasses Market 2024

Non-Cane Molasses Market Size in Croatia

In 2022, the Croatian non-cane molasses market increased by 37% to $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption, however, saw a pronounced curtailment. Non-cane molasses consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Non-Cane Molasses Production in Croatia

In value terms, non-cane molasses production soared to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Non-Cane Molasses Exports

Exports from Croatia

In 2022, shipments abroad of molasses (excluding cane molasses) was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports showed a resilient increase. The pace of growth was the most pronounced in 2013 when exports increased by 201%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, non-cane molasses exports soared to $X in 2022. In general, exports posted a strong expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 261% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Hungary (X tons), Italy (X tons) and Slovenia (X tons) were the main destinations of non-cane molasses exports from Croatia, together accounting for 99% 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 Slovenia (with a CAGR of +24.0%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Hungary ($X) and Slovenia ($X) constituted the largest markets for non-cane molasses exported from Croatia worldwide, with a combined 99% share of total exports.

Slovenia, with a CAGR of +16.9%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average non-cane molasses export price stood at $X per ton in 2022, picking up by 32% against the previous year. Overall, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-cane molasses export price increased by +78.6% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Slovenia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+2.8%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Cane Molasses Imports

Imports into Croatia

In 2022, purchases abroad of molasses (excluding cane molasses) increased by 30% to X tons, rising for the sixth consecutive year after two years of decline. Over the period under review, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2014 when imports increased by 4,669% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, non-cane molasses imports rose notably to $X in 2022. Overall, imports recorded a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 3,230% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Serbia (X tons), Hungary (X tons) and Austria (X tons) were the main suppliers of non-cane molasses imports to Croatia, together accounting for 100% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +396.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Hungary ($X) constituted the largest supplier of molasses (excluding cane molasses) to Croatia, comprising 61% of total imports. The second position in the ranking was held by Serbia ($X), with a 30% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Hungary stood at +148.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Serbia (+65.9% per year) and Austria (+134.2% per year).

Import Prices by Country

In 2022, the average non-cane molasses import price amounted to $X per ton, reducing by -15.3% against the previous year. In general, the import price saw a deep setback. The most prominent rate of growth was recorded in 2015 an increase of 207%. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (-0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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