Pakistan: Non-Cane Molasses Market 2024

Non-Cane Molasses Market Size in Pakistan

The Pakistani non-cane molasses market amounted to $X in 2022, surging by 2% against the previous year. In general, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +6.2% against 2019 indices. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Non-Cane Molasses Production in Pakistan

In value terms, non-cane molasses production totaled $X in 2022 estimated in export price. Overall, the total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +7.5% against 2019 indices. The pace of growth appeared the most rapid in 2017 with an increase of 51%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Non-Cane Molasses Exports

Exports from Pakistan

In 2022, shipments abroad of molasses (excluding cane molasses) decreased by -6% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2017 with an increase of 270% against the previous year. Over the period under review, the exports reached the maximum 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 contracted rapidly to $X in 2022. Over the period under review, exports recorded a drastic downturn. The growth pace was the most rapid in 2017 with an increase of 229% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Finland (X tons) was the main destination for non-cane molasses exports from Pakistan, accounting for a 25% share of total exports. Moreover, non-cane molasses exports to Finland exceeded the volume sent to the second major destination, the Philippines (X tons), threefold. The third position in this ranking was taken by the United Arab Emirates (X tons), with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Finland totaled +18,845.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (-33.4% per year) and the United Arab Emirates (+2.9% per year).

In value terms, the largest markets for non-cane molasses exported from Pakistan were Finland ($X), Saudi Arabia ($X) and the Philippines ($X), with a combined 62% share of total exports.

Finland, with a CAGR of +18,363.7%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average non-cane molasses export price stood at $X per ton in 2022, waning by -22.8% against the previous year. Overall, the export price, however, posted strong growth. The growth pace was the most rapid in 2015 when the average export price increased by 68%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Oman ($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 Saudi Arabia (+26.5%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Cane Molasses Imports

Imports into Pakistan

In 2022, approx. X kg of molasses (excluding cane molasses) were imported into Pakistan; waning by -8.5% on 2021. In general, imports faced a sharp descent. The most prominent rate of growth was recorded in 2020 when imports increased by 3,191% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, non-cane molasses imports reduced to $X in 2022. Over the period under review, imports faced a sharp decline. The most prominent rate of growth was recorded in 2020 with an increase of 662% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X kg) was the main supplier of non-cane molasses to Pakistan, with a 97% share of total imports. It was followed by the United Arab Emirates (X kg), with a 2.9% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China stood at -36.6%.

In value terms, China ($X) constituted the largest supplier of molasses (excluding cane molasses) to Pakistan, comprising 95% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 2.4% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to -40.6%.

Import Prices by Country

The average non-cane molasses import price stood at $X per ton in 2022, declining by -6.3% against the previous year. Overall, the import price continues to indicate a abrupt downturn. The pace of growth was the most pronounced in 2021 when the average import price increased by 138% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for the United Arab Emirates stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-6.3%).

Source: IndexBox Platform

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