Middle East: Cane Molasses Market 2024

Cane Molasses Market Size in the Middle East

In 2022, the Middle Eastern cane molasses market was finally on the rise to reach $X after three years of decline. The total consumption indicated a pronounced expansion 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. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Cane Molasses Production in the Middle East

In value terms, cane molasses production surged to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

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Cane Molasses Exports

Exports in the Middle East

After two years of growth, shipments abroad of cane molasses decreased by X% to X tons in 2022. Overall, exports saw a deep contraction. The pace of growth was the most pronounced in 2021 with an increase of X%. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, cane molasses exports reduced rapidly to $X in 2022. In general, exports saw a deep slump. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then fell notably in the following year.

Exports by Country

Iran represented the key exporting country with an export of about X tons, which recorded X% of total exports. Iraq (X tons) took the second position in the ranking, followed by Saudi Arabia (X tons). All these countries together held near X% share of total exports.

Exports from Iran decreased at an average annual rate of X% from 2012 to 2022. At the same time, Saudi Arabia (X%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. Iraq experienced a relatively flat trend pattern. Iraq (X p.p.) and Saudi Arabia (X p.p.) significantly strengthened its position in terms of the total exports, while Iran saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the largest cane molasses supplying countries in the Middle East were Iran ($X), Saudi Arabia ($X) and Iraq ($X), together comprising X% of total exports.

In terms of the main exporting countries, Saudi Arabia, with a CAGR of X%, recorded the highest rates of growth with regard to 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 the Middle East stood at $X per ton in 2022, waning by X% against the previous year. In general, the export price continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2013 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%).

Cane Molasses Imports

Imports in the Middle East

In 2022, overseas purchases of cane molasses increased by X% to X tons, rising for the second year in a row after two years of decline. In general, imports, however, continue to indicate a slight reduction. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, cane molasses imports soared to $X in 2022. Total imports indicated a slight 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, imports increased by X% against 2020 indices. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Turkey represented the major importing country with an import of about X tons, which resulted at X% of total imports. Saudi Arabia (X tons) ranks second in terms of the total imports with an X% share, followed by Oman (X%). The following importers - the United Arab Emirates (X tons) and Syrian Arab Republic (X tons) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to cane molasses imports into Turkey stood at X%. At the same time, Oman (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. By contrast, Syrian Arab Republic (X%) and the United Arab Emirates (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Oman and Saudi Arabia increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported cane molasses in the Middle East, comprising X% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total imports. It was followed by Oman, with a X% share.

In Turkey, cane molasses imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Oman (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, with an increase of X% against the previous year. Import price indicated measured growth 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 2018 indices. The pace of growth appeared the most rapid in 2020 when the import price increased by X% against the previous year. The level of import peaked in 2022 and is likely to continue growth in years to come.

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 Syrian Arab Republic ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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