Japan: Cane Molasses Market 2023

Cane Molasses Market Size in Japan

The Japanese cane molasses market declined to $X in 2021, which is down by -10.5% against the previous year. Over the period under review, consumption, however, recorded a tangible increase. Cane molasses consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Cane Molasses Production in Japan

In value terms, cane molasses production fell remarkably to $X in 2021 estimated in export price. In general, production recorded a deep contraction. The most prominent rate of growth was recorded in 2020 with an increase of 279%. Cane molasses production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Cane Molasses Exports

Exports from Japan

Cane molasses exports from Japan shrank rapidly to X tons in 2021, waning by -55.9% on the year before. Overall, exports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 915% against the previous year. As a result, the exports reached the peak of X tons, and then dropped rapidly in the following year.

In value terms, cane molasses exports contracted remarkably to $X in 2021. In general, exports, however, posted a resilient increase. The pace of growth appeared the most rapid in 2020 when exports increased by 869% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

South Korea (X tons) was the main destination for cane molasses exports from Japan, with a 43% share of total exports. Moreover, cane molasses exports to South Korea exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), threefold. China (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to South Korea was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+20.8% per year) and China (+43.4% per year).

In value terms, South Korea ($X), Malaysia ($X) and China ($X) were the largest markets for cane molasses exported from Japan worldwide, together comprising 79% of total exports.

In terms of the main countries of destination, China, with a CAGR of +32.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average cane molasses export price amounted to $X per ton, increasing by 17% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 43% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Malaysia ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+0.6%), while the prices for the other major destinations experienced a decline.

Cane Molasses Imports

Imports into Japan

In 2021, the amount of cane molasses imported into Japan shrank modestly to X tons, therefore, remained relatively stable against 2020 figures. The total import volume increased at an average annual rate of +1.0% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by 15% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, cane molasses imports stood at $X in 2021. In general, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +24.0% against 2015 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 35% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, Thailand (X tons) constituted the largest cane molasses supplier to Japan, accounting for a 71% share of total imports. Moreover, cane molasses imports from Thailand exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Thailand stood at +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+18.3% per year) and the Philippines (-41.9% per year).

In value terms, Thailand ($X) constituted the largest supplier of cane molasses to Japan, comprising 68% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 31% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Thailand stood at +7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+23.8% per year) and the Philippines (-41.3% per year).

Import Prices by Country

In 2021, the average cane molasses import price amounted to $X per ton, picking up by 7.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +5.1%. The most prominent rate of growth was recorded in 2020 an increase of 26% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Indonesia ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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