New Zealand: Molasse Market 2024

Molasse Market Size in New Zealand

The New Zealand molasse market declined rapidly to $X in 2022, with a decrease of -85.3% against the previous year. Over the period under review, consumption, however, continues to indicate a notable increase. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Molasse Production in New Zealand

In value terms, molasse production reduced modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of 15%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Molasse Exports

Exports from New Zealand

In 2022, exports of molasses from New Zealand contracted slightly to X tons, waning by -3.8% against 2021 figures. Over the period under review, exports, however, posted a temperate expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 1,184% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, molasse exports contracted to $X in 2022. In general, exports, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2014 with an increase of 2,737%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for molasse exports from New Zealand, accounting for a 99% share of total exports. It was followed by French Polynesia (X kg), with a 0.1% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to China totaled +89.1%.

In value terms, China ($X) remains the key foreign market for molasses exports from New Zealand, comprising 97% of total exports. The second position in the ranking was held by French Polynesia ($X), with a 0.7% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at +107.4%.

Export Prices by Country

In 2022, the average molasse export price amounted to $X per ton, declining by -2.5% against the previous year. Overall, the export price, however, posted buoyant growth. The growth pace was the most rapid in 2014 when the average export price increased by 121% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 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 French Polynesia ($X per ton), while the average price for exports to China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to French Polynesia (+35.9%), while the prices for the other major destinations experienced more modest paces of growth.

Molasse Imports

Imports into New Zealand

For the fourth year in a row, New Zealand recorded decline in overseas purchases of molasses, which decreased by -93.7% to X tons in 2022. Over the period under review, imports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2015 when imports increased by 35,754% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, molasse imports contracted markedly to $X in 2022. Overall, imports, however, recorded strong growth. The growth pace was the most rapid in 2015 with an increase of 5,585%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Australia (X tons) constituted the largest supplier of molasse to New Zealand, with a 49% share of total imports. Moreover, molasse imports from Australia exceeded the figures recorded by the second-largest supplier, Lebanon (X tons), fourfold. Mozambique (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Australia amounted to +10.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Lebanon (+11.9% per year) and Mozambique (0.0% per year).

In value terms, the largest molasse suppliers to New Zealand were Australia ($X), the United States ($X) and Lebanon ($X), with a combined 73% share of total imports. Russia, Sri Lanka, Mozambique, India and Thailand lagged somewhat behind, together accounting for a further 25%.

Russia, with a CAGR of +160.4%, recorded the highest rates of growth with regard to 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

The average molasse import price stood at $X per ton in 2022, picking up by 38% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 258% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+95.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :