Latin America and the Caribbean: Cane Molasses Market 2024

Cane Molasses Market Size in Latin America and the Caribbean

The Latin American cane molasses market expanded significantly to $X in 2022, with an increase of X% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Cane Molasses Production in Latin America and the Caribbean

In value terms, cane molasses production reached $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Cane Molasses Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of cane molasses increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Total exports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2019 indices. The growth pace was the most rapid in 2013 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, cane molasses exports rose significantly to $X in 2022. Total exports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 when exports increased by X%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Guatemala (X tons) and El Salvador (X tons) represented the key exporters of cane molasses in Latin America and the Caribbean, together generating X% of total exports. Nicaragua (X tons) took the next position in the ranking, followed by the Dominican Republic (X tons) and Honduras (X tons). All these countries together held near X% share of total exports. The following exporters - Colombia (X tons) and Peru (X tons) - each resulted at a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Peru (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Guatemala ($X), Honduras ($X) and El Salvador ($X) constituted the countries with the highest levels of exports in 2022, together comprising X% of total exports. The Dominican Republic, Nicaragua, Colombia and Peru lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Nicaragua, with a CAGR of X%, saw the highest rates of growth with regard to 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

The export price in Latin America and the Caribbean stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Honduras ($X per ton), while El Salvador ($X per ton) was amongst the lowest.

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

Cane Molasses Imports

Imports in Latin America and the Caribbean

In 2022, the amount of cane molasses imported in Latin America and the Caribbean surged to X tons, with an increase of X% on 2021 figures. Overall, imports showed a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, cane molasses imports surged to $X in 2022. In general, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Jamaica represented the largest importer of cane molasses in Latin America and the Caribbean, with the volume of imports amounting to X tons, which was near X% of total imports in 2022. Ecuador (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Trinidad and Tobago (X%), Costa Rica (X%), Guatemala (X%), Chile (X%) and Curacao (X%).

From 2012 to 2022, average annual rates of growth with regard to cane molasses imports into Jamaica stood at X%. At the same time, Guatemala (X%), Chile (X%), Ecuador (X%) and Curacao (X%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Costa Rica experienced a relatively flat trend pattern. By contrast, Trinidad and Tobago (X%) illustrated a downward trend over the same period. Jamaica (X p.p.), Guatemala (X p.p.), Ecuador (X p.p.) and Chile (X p.p.) significantly strengthened its position in terms of the total imports, while Costa Rica and Trinidad and Tobago saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Jamaica ($X) constitutes the largest market for imported cane molasses in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Ecuador ($X), with an X% share of total imports. It was followed by Trinidad and Tobago, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Jamaica amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Ecuador (X% per year) and Trinidad and Tobago (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2015 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a 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 Jamaica ($X per ton), while Costa Rica ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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