Norway: Non-Cane Molasses Market 2024

Non-Cane Molasses Market Size in Norway

The Norwegian non-cane molasses market fell modestly to $X in 2022, approximately reflecting the previous year. Overall, the total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +2.9% 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 -13.8% against 2018 indices. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Non-Cane Molasses Production in Norway

In value terms, non-cane molasses production shrank dramatically to $X in 2022 estimated in export price. Over the period under review, production recorded a dramatic shrinkage. The most prominent rate of growth was recorded in 2018 when the production volume increased by 378% against the previous year. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Non-Cane Molasses Exports

Exports from Norway

After three years of decline, overseas shipments of molasses (excluding cane molasses) increased by 14% to X kg in 2022. In general, exports saw strong growth. The pace of growth was the most pronounced in 2018 with an increase of 16,716%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, non-cane molasses exports reduced to $X in 2022. Over the period under review, exports continue to indicate a strong expansion. The growth pace was the most rapid in 2018 when exports increased by 14,261%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Sweden (X kg) was the main destination for non-cane molasses exports from Norway, accounting for a approx. 61% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden stood at +14.6%.

In value terms, Sweden ($X) also remains the key foreign market for molasses (excluding cane molasses) exports from Norway.

From 2012 to 2022, the average annual rate of growth in terms of value to Sweden amounted to +13.6%.

Export Prices by Country

In 2022, the average non-cane molasses export price amounted to $X per ton, dropping by -24% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 75%. As a result, the export price reached the peak level of $X per ton, and then reduced remarkably in the following year.

As there is only one major export destination, the average price level is determined by prices for Sweden.

From 2012 to 2022, the rate of growth in terms of prices for Sweden amounted to -0.8% per year.

Non-Cane Molasses Imports

Imports into Norway

In 2022, overseas purchases of molasses (excluding cane molasses) decreased by -2.9% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, saw a significant increase. The most prominent rate of growth was recorded in 2013 when imports increased by 508%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, non-cane molasses imports rose notably to $X in 2022. Overall, imports, however, posted a significant increase. The most prominent rate of growth was recorded in 2013 when imports increased by 481% against the previous year. Over the period under review, imports reached the maximum at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Belarus (X tons), Sweden (X tons) and Poland (X tons) were the main suppliers of non-cane molasses imports to Norway, with a combined 96% share of total imports. Lithuania and Latvia lagged somewhat behind, together comprising a further 3.5%.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of +71.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belarus ($X), Sweden ($X) and Poland ($X) were the largest non-cane molasses suppliers to Norway, with a combined 94% share of total imports.

Belarus, with a CAGR of +83.9%, saw 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, surging by 10% against the previous year. In general, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.7% 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 +57.5% against 2018 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by 31% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+73.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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