Thailand: Non-Cane Molasses Market 2025

Non-Cane Molasses Market Size in Thailand

The Thai non-cane molasses market rose rapidly to $X in 2022, surging by 5.1% against the previous year. Over the period under review, consumption, however, saw a mild reduction. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Non-Cane Molasses Production in Thailand

In value terms, non-cane molasses production reached $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the production volume increased by 26%. Non-cane molasses production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Non-Cane Molasses Exports

Exports from Thailand

In 2022, overseas shipments of molasses (excluding cane molasses) increased by 13% to X tons, rising for the second consecutive year after two years of decline. In general, exports, however, recorded a slight contraction. The growth pace was the most rapid in 2016 with an increase of 22%. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, non-cane molasses exports expanded significantly to $X in 2022. Overall, exports, however, continue to indicate a perceptible descent. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons) was the main destination for non-cane molasses exports from Thailand, accounting for a 70% share of total exports. Moreover, non-cane molasses exports to Malaysia exceeded the volume sent to the second major destination, Cambodia (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume to Malaysia stood at -1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (+16.3% per year) and China (+15.4% per year).

In value terms, Malaysia ($X) remains the key foreign market for molasses (excluding cane molasses) exports from Thailand, comprising 90% of total exports. The second position in the ranking was held by Cambodia ($X), with a 5.7% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Malaysia stood at -1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (+2.6% per year) and China (-8.6% per year).

Export Prices by Country

In 2022, the average non-cane molasses export price amounted to $X per ton, shrinking by -3% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 30%. Over the period under review, the average export prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Cambodia ($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 Norway (+16.0%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Cane Molasses Imports

Imports into Thailand

In 2022, supplies from 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. Overall, imports, however, showed a deep setback. The pace of growth appeared the most rapid in 2017 when imports increased by 61% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, non-cane molasses imports expanded sharply to $X in 2022. In general, imports, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2017 when imports increased by 92% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the United States (X tons) was the main non-cane molasses supplier to Thailand, accounting for a approx. 99% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to -7.6%.

In value terms, the United States ($X) constituted the largest supplier of molasses (excluding cane molasses) to Thailand.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled -5.5%.

Import Prices by Country

In 2022, the average non-cane molasses import price amounted to $X per ton, rising by 7.2% against the previous year. Overall, the import price recorded a resilient expansion. The most prominent rate of growth was recorded in 2020 an increase of 159% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +2.3% per year.

Source: IndexBox Platform

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