Thailand: Cane Molasses Market 2024

Cane Molasses Market Size in Thailand

In 2022, after two years of growth, there was significant decline in the Thai cane molasses market, when its value decreased by X% to $X. In general, consumption, however, saw significant growth. Over the period under review, the market reached the maximum level at $X in 2021, and then contracted markedly in the following year.

Cane Molasses Production in Thailand

In value terms, cane molasses production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when the production volume increased by X%. Over the period under review, production hit record highs in 2022 and is expected to retain growth in the near future.

Cane Molasses Exports

Exports from Thailand

In 2022, overseas shipments of cane molasses were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, cane molasses exports soared to $X in 2022. In general, exports, however, showed a deep downturn. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for cane molasses exports from Thailand, with a X% share of total exports. Moreover, cane molasses exports to Japan exceeded the volume sent to the second major destination, the Philippines (X tons), threefold. The third position in this ranking was held by South Korea (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Japan amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and South Korea (X% per year).

In value terms, Japan ($X) remains the key foreign market for cane molasses exports from Thailand, comprising X% of total exports. The second position in the ranking was held by the Philippines ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Japan totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and South Korea (X% per year).

Export Prices by Country

The average cane molasses export price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, export price indicated noticeable 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 export price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2020 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cane Molasses Imports

Imports into Thailand

After two years of growth, purchases abroad of cane molasses decreased by X% to X tons in 2022. Over the period under review, imports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2021, and then contracted dramatically in the following year.

In value terms, cane molasses imports reduced dramatically to $X in 2022. In general, imports, however, saw a significant expansion. The pace of growth was the most pronounced in 2020 when imports increased by X%. Imports peaked at $X in 2021, and then contracted significantly in the following year.

Imports by Country

Indonesia (X tons), India (X tons) and Lao People's Democratic Republic (X tons) were the main suppliers of cane molasses imports to Thailand, together comprising X% of total imports. Fiji and Australia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Fiji (with a CAGR of X.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), India ($X) and Fiji ($X) appeared to be the largest cane molasses suppliers to Thailand, together accounting for X% of total imports.

In terms of the main suppliers, Fiji, with a CAGR of X.3%, recorded 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 average cane molasses import price amounted to $X per ton, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Indonesia ($X per ton) and Fiji ($X per ton), while the price for Australia ($X per ton) and Lao People's Democratic Republic ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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