Latin America and the Caribbean: Cane Molasses Market 2024

Cane Molasses Market Size in Latin America and the Caribbean

The Latin American cane molasses market expanded modestly to $X in 2022, growing by X% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Cane Molasses Production in Latin America and the Caribbean

In value terms, cane molasses production reached $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

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Cane Molasses Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of cane molasses increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Total exports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2013 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, cane molasses exports rose notably to $X in 2022. Total exports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 when exports increased by X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Guatemala (X tons) and El Salvador (X tons) represented roughly X% of total exports in 2022. It was distantly followed by Nicaragua (X tons), the Dominican Republic (X tons) and Honduras (X tons), together mixing up a X% share of total exports. The following exporters - Peru (X tons) and Panama (X tons) - together made up X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Panama (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Guatemala ($X), Honduras ($X) and El Salvador ($X) constituted the countries with the highest levels of exports in 2022, together comprising X% of total exports. The Dominican Republic, Nicaragua, Peru and Panama lagged somewhat behind, together comprising a further X%.

Among the main exporting countries, Panama, with a CAGR of X%, saw 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 2022, the export price in Latin America and the Caribbean amounted to $X per ton, increasing by X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the export price increased by X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Honduras ($X per ton), while Panama ($X per ton) was amongst the lowest.

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

Cane Molasses Imports

Imports in Latin America and the Caribbean

In 2022, the amount of cane molasses imported in Latin America and the Caribbean skyrocketed to X tons, with an increase of X% compared with the previous year. In general, imports saw a buoyant expansion. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, cane molasses imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate prominent growth. The pace of growth appeared the most rapid in 2017 when imports increased by X%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, Jamaica (X tons) represented the largest importer of cane molasses, creating X% of total imports. Ecuador (X tons) took the second position in the ranking, distantly followed by Trinidad and Tobago (X tons), Costa Rica (X tons), Guatemala (X tons), Chile (X tons) and Curacao (X tons). All these countries together took approx. X% share of total imports.

Imports into Jamaica increased at an average annual rate of X% from 2012 to 2022. At the same time, Guatemala (X%), Chile (X%), Ecuador (X%) and Curacao (X%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Costa Rica (X%) and Trinidad and Tobago (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Jamaica, Ecuador, Guatemala and Chile increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Jamaica ($X) constitutes the largest market for imported cane molasses in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Ecuador ($X), with a X% share of total imports. It was followed by Trinidad and Tobago, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Jamaica stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Ecuador (X% per year) and Trinidad and Tobago (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, increasing by X% against the previous year. Import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cane molasses import price increased by X% against 2019 indices. Over the period under review, import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Trinidad and Tobago ($X per ton), while Costa Rica ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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