Thailand: Cane Molasses Market 2024

Cane Molasses Market Size in Thailand

The Thai cane molasses market contracted markedly to $X in 2022, dropping by X% against the previous year. Overall, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Cane Molasses Production in Thailand

In value terms, cane molasses production reduced to $X in 2022 estimated in export price. In general, the total production indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Cane Molasses Exports

Exports from Thailand

In 2022, after two years of decline, there was significant growth in shipments abroad of cane molasses, when their volume increased by X% to X tons. Overall, exports, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2019 with an increase of X%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, cane molasses exports surged to $X in 2022. In general, exports, however, showed a deep slump. The pace of growth appeared the most rapid in 2019 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X tons) was the main destination for cane molasses exports from Thailand, with a X% share of total exports. Moreover, cane molasses exports to Japan exceeded the volume sent to the second major destination, the Philippines (X tons), threefold. The third position in this ranking was held by South Korea (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Japan amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and South Korea (X% per year).

In value terms, Japan ($X) remains the key foreign market for cane molasses exports from Thailand, comprising X% of total exports. The second position in the ranking was taken by the Philippines ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Japan amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2022, the average cane molasses export price amounted to $X per ton, growing by X% against the previous year. Over the period under review, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cane molasses export price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2020 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the Philippines ($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 UK (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cane Molasses Imports

Imports into Thailand

In 2022, purchases abroad of cane molasses decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, recorded significant growth. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2021, and then dropped notably in the following year.

In value terms, cane molasses imports shrank significantly to $X in 2022. In general, imports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then dropped significantly in the following year.

Imports by Country

Indonesia (X tons), India (X tons) and Lao People's Democratic Republic (X tons) were the main suppliers of cane molasses imports to Thailand, with a combined X% share of total imports. Fiji and Australia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Fiji (with a CAGR of X.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), India ($X) and Fiji ($X) constituted the largest cane molasses suppliers to Thailand, together comprising X% of total imports.

Fiji, with a CAGR of X.0%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average cane molasses import price amounted to $X per ton, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2019 an increase of X%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Indonesia ($X per ton) and Fiji ($X per ton), while the price for Australia ($X per ton) and Lao People's Democratic Republic ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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