Saudi Arabia: Non-Cane Molasses Market 2024

Non-Cane Molasses Market Size in Saudi Arabia

The Saudi non-cane molasses market expanded markedly to $X in 2022, picking up by 11% against the previous year. In general, the total consumption indicated a prominent 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, consumption decreased by -10.0% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Non-Cane Molasses Production in Saudi Arabia

In value terms, non-cane molasses production reached $X in 2022 estimated in export price. Over the period under review, the total production indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.0% 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 -9.5% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 62%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Non-Cane Molasses Exports

Exports from Saudi Arabia

In 2022, exports of molasses (excluding cane molasses) from Saudi Arabia dropped rapidly to X tons, waning by -32.5% on the previous year's figure. Overall, exports, however, posted significant growth. The growth pace was the most rapid in 2018 when exports increased by 869%. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped markedly in the following year.

In value terms, non-cane molasses exports dropped notably to $X in 2022. Over the period under review, exports, however, saw a significant expansion. The growth pace was the most rapid in 2013 with an increase of 613%. The exports peaked at $X in 2021, and then contracted sharply in the following year.

Exports by Country

The Netherlands (X tons) was the main destination for non-cane molasses exports from Saudi Arabia, with a 39% share of total exports. Moreover, non-cane molasses exports to the Netherlands exceeded the volume sent to the second major destination, Bahrain (X tons), sixfold. The third position in this ranking was held by Germany (X tons), with a 3.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands amounted to +1,007.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (+52.1% per year) and Germany (0.0% per year).

In value terms, the Netherlands ($X) emerged as the key foreign market for molasses (excluding cane molasses) exports from Saudi Arabia, comprising 42% of total exports. The second position in the ranking was held by Bahrain ($X), with a 10% share of total exports. It was followed by Ireland, with a 2.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands stood at +2,688.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (+42.0% per year) and Ireland (0.0% per year).

Export Prices by Country

The average non-cane molasses export price stood at $X per ton in 2022, with a decrease of -14.8% against the previous year. Overall, the export price, however, posted a noticeable expansion. The most prominent rate of growth was recorded in 2013 an increase of 107% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while the average price for exports to Germany ($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 the Netherlands (+151.6%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Cane Molasses Imports

Imports into Saudi Arabia

In 2020, overseas purchases of molasses (excluding cane molasses) increased by 103% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports saw a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of 1,262%. As a result, imports attained the peak of X tons. From 2017 to 2020, the growth of imports failed to regain momentum.

In value terms, non-cane molasses imports surged to $X in 2020. In general, imports saw a significant expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 95% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2020, the growth of imports remained at a lower figure.

Imports by Country

Lebanon (X tons), Turkey (X tons) and Syrian Arab Republic (X tons) were the main suppliers of non-cane molasses imports to Saudi Arabia, with a combined 87% share of total imports.

From 2012 to 2020, the biggest increases were recorded for Turkey (with a CAGR of +95.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Lebanon ($X) constituted the largest supplier of molasses (excluding cane molasses) to Saudi Arabia, comprising 56% of total imports. The second position in the ranking was taken by Turkey ($X), with a 10% share of total imports. It was followed by Syrian Arab Republic, with an 8% share.

From 2012 to 2020, the average annual rate of growth in terms of value from Lebanon amounted to +78.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+42.5% per year) and Syrian Arab Republic (+81.7% per year).

Import Prices by Country

The average non-cane molasses import price stood at $X per ton in 2020, which is down by -13.7% against the previous year. Overall, the import price, however, saw a significant increase. The pace of growth was the most pronounced in 2017 an increase of 147% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2020, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, amid the top importers, the country with the highest price was Pakistan ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+21.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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