South Africa: Molasse Market 2024

Molasse Market Size in South Africa

The South African molasse market dropped modestly to $X in 2022, remaining constant against the previous year. Over the period under review, consumption, however, saw a slight slump. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Molasse Production in South Africa

In value terms, molasse production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a slight slump. The pace of growth was the most pronounced in 2018 with an increase of 92% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Molasse Exports

Exports from South Africa

In 2022, shipments abroad of molasses decreased by -70% to X tons, falling for the second year in a row after two years of growth. In general, exports continue to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 279% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, molasse exports dropped markedly to $X in 2022. Over the period under review, exports saw a pronounced curtailment. The growth pace was the most rapid in 2017 when exports increased by 270%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Namibia (X tons) was the main destination for molasse exports from South Africa, accounting for a 62% share of total exports. Moreover, molasse exports to Namibia exceeded the volume sent to the second major destination, Botswana (X tons), twofold. Kenya (X tons) ranked third in terms of total exports with a 1.7% share.

From 2012 to 2022, the average annual growth rate of volume to Namibia stood at +5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Botswana (+4.9% per year) and Kenya (+14.6% per year).

In value terms, Namibia ($X), Botswana ($X) and Kenya ($X) appeared to be the largest markets for molasse exported from South Africa worldwide, together accounting for 81% of total exports.

Kenya, with a CAGR of +9.4%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average molasse export price stood at $X per ton in 2022, picking up by 33% against the previous year. In general, export price indicated modest growth 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, molasse export price increased by +79.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 35%. Over the period under review, the average export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Swaziland ($X per ton), while the average price for exports to Namibia ($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 South Korea (+26.3%), while the prices for the other major destinations experienced mixed trend patterns.

Molasse Imports

Imports into South Africa

In 2022, purchases abroad of molasses was finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2015 with an increase of 37% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, molasse imports skyrocketed to $X in 2022. In general, imports, however, showed a deep downturn. The growth pace was the most rapid in 2015 with an increase of 54% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Mozambique (X tons), Zambia (X tons) and Zimbabwe (X tons) were the main suppliers of molasse imports to South Africa, together comprising 100% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Zambia (with a CAGR of -7.6%), while imports for the other leaders experienced a decline.

In value terms, Mozambique ($X) constituted the largest supplier of molasses to South Africa, comprising 66% of total imports. The second position in the ranking was held by Zambia ($X), with a 30% share of total imports. It was followed by Zimbabwe, with a 0.1% share.

From 2012 to 2022, the average annual growth rate of value from Mozambique amounted to -12.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Zambia (-0.9% per year) and Zimbabwe (-47.1% per year).

Import Prices by Country

In 2022, the average molasse import price amounted to $X per ton, with an increase of 20% against the previous year. Over the period under review, import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, molasse import price increased by +64.5% against 2018 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 28%. Over the period under review, average import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Tanzania ($X per ton), while the price for Zimbabwe ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tanzania (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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