Middle East: Non-Cane Molasses Market 2024

Non-Cane Molasses Market Size in the Middle East

In 2022, after two years of decline, there was significant growth in the Middle Eastern non-cane molasses market, when its value increased by 5.9% to $X. The total consumption indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -11.9% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Non-Cane Molasses Production in the Middle East

In value terms, non-cane molasses production declined modestly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate perceptible growth. The pace of growth was the most pronounced in 2018 with an increase of 34% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Non-Cane Molasses Exports

Exports in the Middle East

In 2022, shipments abroad of molasses (excluding cane molasses) decreased by -93.7% to X tons, falling for the fifth year in a row after two years of growth. Over the period under review, exports continue to indicate a dramatic slump. The most prominent rate of growth was recorded in 2016 when exports increased by 23% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-cane molasses exports reduced remarkably to $X in 2022. Overall, exports continue to indicate a abrupt contraction. The growth pace was the most rapid in 2016 with an increase of 13%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Syrian Arab Republic (X tons) and the United Arab Emirates (X tons) were the major exporters of molasses (excluding cane molasses) in the Middle East, together resulting at near 63% of total exports. It was distantly followed by Lebanon (X tons), Palestine (X tons) and Turkey (X tons), together committing a 31% share of total exports. The following exporters - Israel (X tons) and Saudi Arabia (X tons) - each reached a 4.6% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Lebanon (with a CAGR of +39.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest non-cane molasses supplying countries in the Middle East were Syrian Arab Republic ($X), the United Arab Emirates ($X) and Lebanon ($X), together accounting for 83% of total exports. Turkey, Saudi Arabia, Palestine and Israel lagged somewhat behind, together accounting for a further 15%.

Among the main exporting countries, Saudi Arabia, with a CAGR of +38.9%, 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 the Middle East stood at $X per ton in 2022, surging by 427% against the previous year. Overall, the export price enjoyed a resilient expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 Saudi Arabia ($X per ton), while Palestine ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Syrian Arab Republic (+18.0%), while the other leaders experienced more modest paces of growth.

Non-Cane Molasses Imports

Imports in the Middle East

In 2022, approx. X tons of molasses (excluding cane molasses) were imported in the Middle East; with an increase of 81% on the previous year. Total imports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -13.1% against 2020 indices. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, non-cane molasses imports surged to $X in 2022. Total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey prevails in imports structure, amounting to X tons, which was near 88% of total imports in 2022. It was distantly followed by Palestine (X tons), mixing up a 7.9% share of total imports.

Turkey was also the fastest-growing in terms of the molasses (excluding cane molasses) imports, with a CAGR of +3.3% from 2012 to 2022. Palestine (-2.7%) illustrated a downward trend over the same period. Turkey (+8.2 p.p.) significantly strengthened its position in terms of the total imports, while Palestine saw its share reduced by -5.2% from 2012 to 2022, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported molasses (excluding cane molasses) in the Middle East, comprising 89% of total imports. The second position in the ranking was taken by Palestine ($X), with a 6.3% share of total imports.

In Turkey, non-cane molasses imports expanded at an average annual rate of +6.2% over the period from 2012-2022.

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, rising by 27% against the previous year. Import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +2.1% 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 +95.2% against 2018 indices. The pace of growth was the most pronounced in 2019 an increase of 35%. Over the period under review, import prices attained the maximum in 2022 and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per ton), while Palestine totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+2.8%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :