Western Africa: Non-Cane Molasses Market 2024

Non-Cane Molasses Market Size in Western Africa

The West African non-cane molasses market was estimated at $X in 2022, approximately mirroring the previous year. Over the period under review, consumption recorded prominent growth. The level of consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Non-Cane Molasses Production in Western Africa

In value terms, non-cane molasses production reached $X in 2022 estimated in export price. In general, production enjoyed strong growth. The growth pace was the most rapid in 2018 when the production volume increased by 45%. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Non-Cane Molasses Exports

Exports in Western Africa

In 2022, overseas shipments of molasses (excluding cane molasses) increased by 20% to X tons, rising for the second year in a row after four years of decline. Over the period under review, exports, however, continue to indicate a sharp decrease. The most prominent rate of growth was recorded in 2016 when exports increased by 9,015%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, non-cane molasses exports stood at $X in 2022. Overall, exports, however, continue to indicate a significant contraction. The most prominent rate of growth was recorded in 2016 with an increase of 2,393%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Benin (X tons) and Senegal (X tons) prevails in exports structure, together making up 88% of total exports. It was distantly followed by Togo (X tons), committing a 7.4% share of total exports. Nigeria (X tons) took a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Togo (with a CAGR of +11.2%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest non-cane molasses supplying countries in Western Africa were Senegal ($X), Benin ($X) and Togo ($X), together accounting for 95% of total exports.

In terms of the main exporting countries, Senegal, with a CAGR of +6.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, which is down by -13.8% against the previous year. In general, the export price, however, recorded a strong increase. The most prominent rate of growth was recorded in 2017 an increase of 325%. The level of export peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+13.4%), while the other leaders experienced mixed trends in the export price figures.

Non-Cane Molasses Imports

Imports in Western Africa

In 2022, purchases abroad of molasses (excluding cane molasses) decreased by -42.8% to X tons, falling for the second year in a row after two years of growth. In general, imports, however, enjoyed a slight increase. The most prominent rate of growth was recorded in 2013 when imports increased by 103%. 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 declined markedly to $X in 2022. Overall, imports, however, saw prominent growth. The pace of growth was the most pronounced in 2013 when imports increased by 116%. The level of import peaked at $X in 2021, and then shrank remarkably in the following year.

Imports by Country

Mali was the largest importing country with an import of around X tons, which resulted at 32% of total imports. It was distantly followed by Mauritania (X tons), Sierra Leone (X tons), Guinea (X tons), Cote d'Ivoire (X tons) and Gambia (X tons), together comprising a 61% share of total imports. Nigeria (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Mali (with a CAGR of +43.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Sierra Leone ($X), Guinea ($X) and Cote d'Ivoire ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 85% of total imports.

In terms of the main importing countries, Guinea, with a CAGR of +42.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, growing by 33% against the previous year. Overall, the import price saw a resilient increase. The pace of growth was the most pronounced in 2020 when the import price increased by 47% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

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 Guinea ($X per ton), while Mali ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (+22.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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