Malaysia: Non-Cane Molasses Market 2024

Non-Cane Molasses Market Size in Malaysia

The Malaysian non-cane molasses market stood at $X in 2022, with an increase of 2.3% against the previous year. The market value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Non-Cane Molasses Production in Malaysia

In value terms, non-cane molasses production rose modestly to $X in 2022 estimated in export price. In general, the total production indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.9% against 2020 indices. The growth pace was the most rapid in 2015 with an increase of 55% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Non-Cane Molasses Exports

Exports from Malaysia

In 2022, the amount of molasses (excluding cane molasses) exported from Malaysia soared to X tons, increasing by 308% compared with 2021 figures. Over the period under review, exports showed prominent growth. The most prominent rate of growth was recorded in 2020 when exports increased by 474% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, non-cane molasses exports surged to $X in 2022. Overall, exports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 857% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Singapore (X tons) was the main destination for non-cane molasses exports from Malaysia, with a 75% share of total exports. Moreover, non-cane molasses exports to Singapore exceeded the volume sent to the second major destination, Thailand (X tons), sixfold. The third position in this ranking was taken by Indonesia (X tons), with a 6.2% share.

From 2012 to 2022, the average annual growth rate of volume to Singapore totaled +8.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+68.3% per year) and Indonesia (-6.4% per year).

In value terms, Singapore ($X) remains the key foreign market for molasses (excluding cane molasses) exports from Malaysia, comprising 55% of total exports. The second position in the ranking was taken by Thailand ($X), with a 17% share of total exports. It was followed by Indonesia, with a 17% share.

From 2012 to 2022, the average annual growth rate of value to Singapore amounted to +14.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+47.3% per year) and Indonesia (-0.6% per year).

Export Prices by Country

The average non-cane molasses export price stood at $X per ton in 2022, with an increase of 12% against the previous year. Over the period under review, the export price saw a prominent increase. The growth pace was the most rapid in 2015 an increase of 100% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Singapore ($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 Indonesia (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Cane Molasses Imports

Imports into Malaysia

Non-cane molasses imports into Malaysia dropped slightly to X tons in 2022, reducing by -1.9% on the year before. Over the period under review, imports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2016 when imports increased by 230%. Imports peaked at X tons in 2021, and then contracted in the following year.

In value terms, non-cane molasses imports shrank slightly to $X in 2022. Overall, imports, however, posted a strong expansion. The pace of growth appeared the most rapid in 2016 with an increase of 141%. Over the period under review, imports hit record highs at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, India (X tons) constituted the largest non-cane molasses supplier to Malaysia, accounting for a 72% share of total imports. Moreover, non-cane molasses imports from India exceeded the figures recorded by the second-largest supplier, Thailand (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from India amounted to +60.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+10.0% per year) and Indonesia (+20.0% per year).

In value terms, India ($X), Thailand ($X) and Indonesia ($X) constituted the largest non-cane molasses suppliers to Malaysia, with a combined 96% share of total imports.

India, with a CAGR of +48.3%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average non-cane molasses import price amounted to $X per ton, with a decrease of -1.5% against the previous year. Over the period under review, the import price recorded a deep reduction. The most prominent rate of growth was recorded in 2020 an increase of 21%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Indonesia ($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 (+11.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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