South-Eastern Asia: Molasse Market 2024

Molasse Market Size in South-Eastern Asia

The Southeast Asian molasse market contracted to $X in 2022, with a decrease of -13.7% against the previous year. The total consumption indicated a notable 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, consumption increased by +7.7% against 2020 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Molasse Production in South-Eastern Asia

In value terms, molasse production declined modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 with an increase of 29%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Molasse Exports

Exports in South-Eastern Asia

In 2022, overseas shipments of molasses were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, showed a noticeable curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 37%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, molasse exports surged to $X in 2022. Total exports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when exports increased by 74%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Indonesia was the largest exporter of molasses in South-Eastern Asia, with the volume of exports reaching X tons, which was near 74% of total exports in 2022. It was distantly followed by Thailand (X tons), making up a 15% share of total exports. The following exporters - Myanmar (X tons), Lao People's Democratic Republic (X tons), Cambodia (X tons) and Vietnam (X tons) - together made up 10% of total exports.

From 2012 to 2022, average annual rates of growth with regard to molasse exports from Indonesia stood at +6.8%. At the same time, Cambodia (+37.2%) and Lao People's Democratic Republic (+7.3%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +37.2% from 2012-2022. By contrast, Vietnam (-11.7%), Thailand (-16.7%) and Myanmar (-32.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Indonesia, Myanmar, Lao People's Democratic Republic and Cambodia increased by +50, +3.4, +2.1 and +2 percentage points, respectively.

In value terms, Indonesia ($X) remains the largest molasse supplier in South-Eastern Asia, comprising 76% of total exports. The second position in the ranking was held by Thailand ($X), with a 13% share of total exports. It was followed by Cambodia, with a 3% share.

From 2012 to 2022, the average annual growth rate of value in Indonesia amounted to +12.9%. In the other countries, the average annual rates were as follows: Thailand (-10.6% per year) and Cambodia (+45.4% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, growing by 14% against the previous year. Export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +7.4% 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 +66.5% against 2018 indices. The pace of growth appeared the most rapid in 2013 an increase of 29%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Cambodia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+21.5%), while the other leaders experienced more modest paces of growth.

Molasse Imports

Imports in South-Eastern Asia

After three years of growth, supplies from abroad of molasses decreased by -17.3% to X tons in 2022. In general, imports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 128%. Over the period under review, imports attained the peak figure at X tons in 2021, and then dropped dramatically in the following year.

In value terms, molasse imports dropped to $X in 2022. Over the period under review, imports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 128%. The level of import peaked at $X in 2021, and then declined in the following year.

Imports by Country

The Philippines represented the key importer of molasses in South-Eastern Asia, with the volume of imports accounting for X tons, which was approx. 51% of total imports in 2022. Vietnam (X tons) took a 29% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (11%) and Indonesia (7.2%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the Philippines (with a CAGR of +32.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X) constitutes the largest market for imported molasses in South-Eastern Asia, comprising 56% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 20% share of total imports. It was followed by Thailand, with an 11% share.

In the Philippines, molasse imports expanded at an average annual rate of +42.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (+3.0% per year) and Thailand (+18.9% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, increasing by 8.2% against the previous year. Over the last decade, it increased at an average annual rate of +3.0%. The pace of growth appeared the most rapid in 2014 an increase of 14% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+7.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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