Eastern Europe: Molasse Market 2024

Molasse Market Size in Eastern Europe

In 2022, the East European molasse market increased by 12% to $X, rising for the second consecutive year after four years of decline. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Molasse Production in Eastern Europe

In value terms, molasse production rose rapidly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 22%. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Molasse Exports

Exports in Eastern Europe

In 2022, overseas shipments of molasses were finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by 33% against the previous year. The volume of export peaked at X tons in 2018; afterwards, it flattened through to 2022.

In value terms, molasse exports skyrocketed to $X in 2022. Total exports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.0% 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 +50.4% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Russia (X tons) was the key exporter of molasses, achieving 46% of total exports. Belarus (X tons) ranks second in terms of the total exports with a 20% share, followed by Poland (16%). Ukraine (X tons), Latvia (X tons), Slovakia (X tons) and Lithuania (X tons) took a relatively small share of total exports.

Russia experienced a relatively flat trend pattern with regard to volume of exports of molasses. At the same time, Latvia (+105.1%), Belarus (+24.5%), Poland (+4.9%) and Slovakia (+2.1%) displayed positive paces of growth. Moreover, Latvia emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +105.1% from 2012-2022. By contrast, Lithuania (-2.5%) and Ukraine (-17.3%) illustrated a downward trend over the same period. Belarus (+18 p.p.), Poland (+5.9 p.p.) and Latvia (+4 p.p.) significantly strengthened its position in terms of the total exports, while Russia and Ukraine saw its share reduced by -2.4% and -26.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest molasse supplying countries in Eastern Europe were Russia ($X), Poland ($X) and Belarus ($X), together accounting for 79% of total exports. Slovakia, Ukraine, Latvia and Lithuania lagged somewhat behind, together comprising a further 16%.

In terms of the main exporting countries, Latvia, with a CAGR of +90.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, growing by 7.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.8%. The growth pace was the most rapid in 2013 when the export price increased by 28% against the previous year. Over the period under review, the export prices reached the peak figure in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (+4.3%), while the other leaders experienced more modest paces of growth.

Molasse Imports

Imports in Eastern Europe

In 2022, supplies from abroad of molasses increased by 49% to X tons for the first time since 2018, thus ending a three-year declining trend. In general, imports, however, continue to indicate a mild downturn. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, molasse imports soared to $X in 2022. Total imports indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +85.3% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Hungary (X tons) was the key importer of molasses, committing 51% of total imports. It was distantly followed by Latvia (X tons), the Czech Republic (X tons) and Lithuania (X tons), together committing a 37% share of total imports. The following importers - Romania (X tons), Estonia (X tons) and Poland (X tons) - together made up 9% of total imports.

Imports into Hungary increased at an average annual rate of +1.4% from 2012 to 2022. At the same time, Latvia (+10.5%), Lithuania (+9.8%), Romania (+2.4%) and Estonia (+2.2%) displayed positive paces of growth. Moreover, Latvia emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +10.5% from 2012-2022. The Czech Republic experienced a relatively flat trend pattern. By contrast, Poland (-18.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Hungary, Latvia and Lithuania increased by +12, +12 and +5.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hungary ($X) constitutes the largest market for imported molasses in Eastern Europe, comprising 54% of total imports. The second position in the ranking was held by the Czech Republic ($X), with a 12% share of total imports. It was followed by Latvia, with an 11% share.

In Hungary, molasse imports increased at an average annual rate of +4.3% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the Czech Republic (+1.4% per year) and Latvia (+14.6% per year).

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per ton, jumping by 22% against the previous year. Import price indicated a moderate expansion from 2012 to 2022: its price 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. Based on 2022 figures, molasse import price increased by +72.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of 23%. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

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 Poland ($X per ton), while Latvia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+9.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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