Saudi Arabia: Non-Cane Molasses Market 2023

Non-Cane Molasses Market Size in Saudi Arabia

The Saudi non-cane molasses market shrank notably to $X in 2021, with a decrease of -19.2% against the previous year. Overall, the total consumption indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +27.9% against 2019 indices. Over the period under review, the market hit record highs at $X in 2020, and then declined dramatically in the following year.

Non-Cane Molasses Production in Saudi Arabia

In value terms, non-cane molasses production reduced rapidly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +34.2% against 2019 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by 85%. Non-cane molasses production peaked at $X in 2020, and then shrank markedly in the following year.

Non-Cane Molasses Exports

Exports from Saudi Arabia

In 2021, shipments abroad of molasses (excluding cane molasses) decreased by -0.8% to X tons, falling for the second year in a row after two years of growth. Overall, exports, however, showed a strong increase. The growth pace was the most rapid in 2018 with an increase of 984%. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, non-cane molasses exports declined slightly to $X in 2021. Over the period under review, exports, however, saw a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 613% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Turkey (X tons) was the main destination for non-cane molasses exports from Saudi Arabia, accounting for a 55% share of total exports. Moreover, non-cane molasses exports to Turkey exceeded the volume sent to the second major destination, Kuwait (X tons), fourfold. The third position in this ranking was taken by Germany (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+10.8% per year) and Germany (0.0% per year).

In value terms, the largest markets for non-cane molasses exported from Saudi Arabia were Turkey ($X), Jordan ($X) and Germany ($X), together comprising 86% of total exports.

Jordan, with a CAGR of +29.2%, recorded the highest growth rate of 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 2021, the average non-cane molasses export price amounted to $X per ton, declining by -1.6% against the previous year. Over the period under review, the export price, however, posted a strong increase. The growth pace was the most rapid in 2017 an increase of 85% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Jordan ($X per ton), while the average price for exports to Kuwait ($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 the United Arab Emirates (+3.2%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Cane Molasses Imports

Imports into Saudi Arabia

In 2020, supplies from abroad of molasses (excluding cane molasses) increased by 43% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of 309%. As a result, imports reached the peak of X tons. From 2017 to 2020, the growth of imports remained at a somewhat lower figure.

In value terms, non-cane molasses imports soared to $X in 2020. Overall, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 95% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2020, the growth of imports failed to regain momentum.

Imports by Country

Lebanon (X tons), Turkey (X tons) and Syrian Arab Republic (X tons) were the main suppliers of non-cane molasses imports to Saudi Arabia.

From 2012 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +95.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Lebanon ($X) constituted the largest supplier of non-cane molasses to Saudi Arabia, comprising 56% of total imports. The second position in the ranking was taken by Turkey ($X), with a 10% share of total imports. It was followed by Syrian Arab Republic, with an 8% share.

From 2012 to 2020, the average annual rate of growth in terms of value from Lebanon totaled +78.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+42.5% per year) and Syrian Arab Republic (+81.7% per year).

Import Prices by Country

The average non-cane molasses import price stood at $X per ton in 2020, increasing by 22% against the previous year. In general, the import price posted tangible growth. The pace of growth appeared the most rapid in 2017 an increase of 149% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2020, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Germany ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Pakistan (+43.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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