Slovakia: Non-Cane Molasses Market 2024

Non-Cane Molasses Market Size in Slovakia

In 2022, after two years of growth, there was significant decline in the Slovak non-cane molasses market, when its value decreased by -7.4% to $X. Over the period under review, the total consumption indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Non-cane molasses consumption peaked at $X in 2021, and then fell in the following year.

Non-Cane Molasses Production in Slovakia

In value terms, non-cane molasses production declined to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 15% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Non-Cane Molasses Exports

Exports from Slovakia

In 2022, shipments abroad of molasses (excluding cane molasses) was finally on the rise to reach X tons after two years of decline. Over the period under review, exports continue to indicate temperate growth. The most prominent rate of growth was recorded in 2015 when exports increased by 87% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, non-cane molasses exports surged to $X in 2022. Overall, total exports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +87.8% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Hungary (X tons) was the main destination for non-cane molasses exports from Slovakia, accounting for a 84% share of total exports. Moreover, non-cane molasses exports to Hungary exceeded the volume sent to the second major destination, Austria (X tons), tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Hungary amounted to +8.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+15.4% per year) and the Czech Republic (-13.8% per year).

In value terms, Hungary ($X) remains the key foreign market for molasses (excluding cane molasses) exports from Slovakia, comprising 87% of total exports. The second position in the ranking was held by Austria ($X), with an 8% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Hungary totaled +10.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+17.3% per year) and the Czech Republic (-15.1% per year).

Export Prices by Country

The average non-cane molasses export price stood at $X per ton in 2022, rising by 43% against the previous year. Over the period under review, export price indicated moderate growth 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 export price increased by +74.9% against 2017 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hungary ($X per ton), while the average price for exports to the Czech Republic ($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 Hungary (+2.3%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Cane Molasses Imports

Imports into Slovakia

In 2022, purchases abroad of molasses (excluding cane molasses) was finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. In general, imports recorded a prominent expansion. The pace of growth was the most pronounced in 2014 with an increase of 129% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, non-cane molasses imports amounted to $X in 2022. Over the period under review, total imports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +8.3% against 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 212% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Hungary (X tons), Austria (X tons) and Germany (X tons) were the main suppliers of non-cane molasses imports to Slovakia, together comprising 95% of total imports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +44.9%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X) constituted the largest supplier of molasses (excluding cane molasses) to Slovakia, comprising 70% of total imports. The second position in the ranking was taken by Austria ($X), with a 19% share of total imports. It was followed by the Czech Republic, with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled +43.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+33.2% per year) and the Czech Republic (-9.8% per year).

Import Prices by Country

The average non-cane molasses import price stood at $X per ton in 2022, standing approx. at the previous year. Overall, the import price continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2020 an increase of 92% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+40.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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