United Kingdom: Molasse Market 2024

Molasse Market Size in the UK

In 2022, the UK molasse market was finally on the rise to reach $X after two years of decline. In general, the total consumption indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Molasse Production in the UK

In value terms, molasse production fell modestly to $X in 2022 estimated in export price. Overall, production recorded a slight descent. The most prominent rate of growth was recorded in 2017 when the production volume increased by 49%. Molasse production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Molasse Exports

Exports from the UK

After two years of growth, shipments abroad of molasses decreased by -17.7% to X tons in 2022. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 20%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, molasse exports dropped dramatically to $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 26% against the previous year. The exports peaked at $X in 2021, and then shrank remarkably in the following year.

Exports by Country

India (X tons) was the main destination for molasse exports from the UK, with a 64% share of total exports. Moreover, molasse exports to India exceeded the volume sent to the second major destination, the Netherlands (X tons), fourfold. Ireland (X tons) ranked third in terms of total exports with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to India was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+11.8% per year) and Ireland (-25.7% per year).

In value terms, India ($X), the Netherlands ($X) and Poland ($X) appeared to be the largest markets for molasse exported from the UK worldwide, with a combined 70% share of total exports.

Poland, with a CAGR of +39.8%, recorded the highest rates of growth with regard to the value of exports, among 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

In 2022, the average molasse export price amounted to $X per ton, remaining relatively unchanged against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2020 when the average export price increased by 9.1% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to India ($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 Spain (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Molasse Imports

Imports into the UK

In 2022, purchases abroad of molasses increased by 56% to X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports, however, recorded a mild decrease. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, molasse imports surged to $X in 2022. In general, total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of molasse to the UK, accounting for a 44% share of total imports. Moreover, molasse imports from India exceeded the figures recorded by the second-largest supplier, Pakistan (X tons), threefold. Poland (X tons) ranked third in terms of total imports with a 9.6% share.

From 2012 to 2022, the average annual growth rate of volume from India was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (+11.9% per year) and Poland (+113.9% per year).

In value terms, India ($X) constituted the largest supplier of molasses to the UK, comprising 44% of total imports. The second position in the ranking was taken by Pakistan ($X), with a 15% share of total imports. It was followed by Poland, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from India stood at +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (+15.2% per year) and Poland (+121.6% per year).

Import Prices by Country

In 2022, the average molasse import price amounted to $X per ton, increasing by 16% against the previous year. Over the last decade, it increased at an average annual rate of +4.1%. The pace of growth was the most pronounced in 2013 an increase of 18%. The import price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Egypt ($X per ton) and Honduras ($X per ton), while the price for the United States ($X per ton) and Mozambique ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :