U.S.: Non-Cane Molasses Market 2024

Non-Cane Molasses Market Size in the U.S.

The U.S. non-cane molasses market declined slightly to $X in 2022, with a decrease of -3.1% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Non-Cane Molasses Production in the U.S.

In value terms, non-cane molasses production reduced modestly to $X in 2022. In general, the total production indicated notable growth from 2012 to 2022: its value 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, production decreased by -7.7% against 2019 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by 32%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Non-Cane Molasses Exports

Exports from the U.S.

In 2022, shipments abroad of molasses (excluding cane molasses) increased by 20% to X tons, rising for the third year in a row after three years of decline. In general, exports, however, showed a deep setback. The pace of growth appeared the most rapid in 2020 when exports increased by 117% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, non-cane molasses exports surged to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 110% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X tons) was the main destination for non-cane molasses exports from the United States, accounting for a 93% share of total exports. It was followed by Mexico (X tons), with a 2.7% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada amounted to -12.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-17.0% per year) and South Korea (+14.3% per year).

In value terms, Canada ($X) remains the key foreign market for molasses (excluding cane molasses) exports from the United States, comprising 85% of total exports. The second position in the ranking was held by Mexico ($X), with a 7.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+6.1% per year) and South Korea (+11.6% per year).

Export Prices by Country

In 2022, the average non-cane molasses export price amounted to $X per ton, growing by 4.5% against the previous year. Over the period under review, the export price showed a buoyant expansion. The most prominent rate of growth was recorded in 2018 an increase of 141%. The export price peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Canada ($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 Mexico (+27.8%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Cane Molasses Imports

Imports into the U.S.

Non-cane molasses imports into the United States fell rapidly to X tons in 2022, declining by -32.5% compared with the year before. Overall, imports showed a perceptible reduction. The growth pace was the most rapid in 2021 with an increase of 1,212%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, non-cane molasses imports dropped sharply to $X in 2022. In general, imports showed a noticeable downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 1,526%. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Poland (X tons) constituted the largest supplier of non-cane molasses to the United States, accounting for a 56% share of total imports. Moreover, non-cane molasses imports from Poland exceeded the figures recorded by the second-largest supplier, Egypt (X tons), threefold. The third position in this ranking was taken by Canada (X tons), with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Poland totaled +1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+78.9% per year) and Canada (+2.4% per year).

In value terms, Poland ($X) constituted the largest supplier of molasses (excluding cane molasses) to the United States, comprising 63% of total imports. The second position in the ranking was taken by Egypt ($X), with a 22% share of total imports. It was followed by Lebanon, with a 5.3% share.

From 2012 to 2022, the average annual growth rate of value from Poland totaled +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+78.9% per year) and Lebanon (+15.0% per year).

Import Prices by Country

In 2022, the average non-cane molasses import price amounted to $X per ton, increasing by 18% against the previous year. In general, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.3% 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 import price increased by +113.4% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 46%. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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 India ($X per ton), while the price for Switzerland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nicaragua (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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