Eastern Europe: Non-Cane Molasses Market 2024

Non-Cane Molasses Market Size in Eastern Europe

The East European non-cane molasses market rose sharply to $X in 2022, picking up by 12% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Non-Cane Molasses Production in Eastern Europe

In value terms, non-cane molasses production expanded significantly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Non-Cane Molasses Exports

Exports in Eastern Europe

In 2022, the amount of molasses (excluding cane molasses) exported in Eastern Europe skyrocketed to X tons, growing by 26% against the year before. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 34% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2018; afterwards, it flattened through to 2022.

In value terms, non-cane molasses exports soared to $X in 2022. Total exports indicated tangible growth 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 +51.1% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Russia (X tons) was the main exporter of molasses (excluding cane molasses), making up 46% of total exports. It was distantly followed by Belarus (X tons), Poland (X tons) and Ukraine (X tons), together committing a 40% share of total exports. The following exporters - Latvia (X tons), Slovakia (X tons) and Lithuania (X tons) - together made up 9.7% 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, Latvia (+105.1%), Belarus (+25.7%), 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 (+4.1 p.p.) significantly strengthened its position in terms of the total exports, while Russia and Ukraine saw its share reduced by -2.2% and -26.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X), Poland ($X) and Belarus ($X) were the countries with the highest levels of exports in 2022, together comprising 79% of total exports. Slovakia, Ukraine, Latvia and Lithuania lagged somewhat behind, together comprising a further 16%.

Latvia, with a CAGR of +90.3%, saw the highest growth rate of the value of exports, in terms of 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

In 2022, the export price in Eastern Europe amounted to $X per ton, picking up by 7.1% against the previous year. Over the last decade, it increased at an average annual rate of +3.8%. The most prominent rate of growth was recorded in 2013 when the export price increased by 28%. Over the period under review, the export prices hit record highs in 2022 and is likely to see steady growth in the near future.

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 Russia (+4.4%), while the other leaders experienced more modest paces of growth.

Non-Cane Molasses Imports

Imports in Eastern Europe

In 2022, after three years of decline, there was significant growth in supplies from abroad of molasses (excluding cane molasses), when their volume increased by 48% to X tons. In general, imports, however, continue to indicate a mild reduction. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, non-cane molasses imports soared to $X in 2022. Overall, imports saw a modest increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Hungary represented the major importing country with an import of about X tons, which reached 52% of total imports. Latvia (X tons) took a 17% share (based on physical terms) of total imports, which put it in second place, followed by the Czech Republic (11%) and Lithuania (8.8%). Romania (X tons), Estonia (X tons) and Poland (X tons) took a little share of total imports.

Imports into Hungary increased at an average annual rate of +1.4% from 2012 to 2022. At the same time, Latvia (+11.0%), Lithuania (+9.8%), Romania (+2.4%) and Estonia (+2.3%) displayed positive paces of growth. Moreover, Latvia emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +11.0% from 2012-2022. The Czech Republic experienced a relatively flat trend pattern. By contrast, Poland (-19.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Hungary, Latvia and Lithuania increased by +12, +12 and +5.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hungary ($X) constitutes the largest market for imported molasses (excluding cane molasses) in Eastern Europe, comprising 56% of total imports. The second position in the ranking was held by the Czech Republic ($X), with a 12% share of total imports. It was followed by Latvia, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Hungary stood at +4.3%. The remaining importing countries recorded the following average annual rates of imports growth: the Czech Republic (+1.2% per year) and Latvia (+15.4% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2022, with an increase of 26% against the previous year. Import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.5% 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 import price increased by +71.1% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: 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 (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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