Thailand: Molasse Market 2024

Molasse Market Size in Thailand

In 2022, the Thai molasse market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption, however, saw a pronounced setback. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Molasse Production in Thailand

In value terms, molasse production surged to $X in 2022 estimated in export price. In general, production, however, showed a mild downturn. The growth pace was the most rapid in 2020 when the production volume increased by X%. Molasse production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

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Molasse Exports

Exports from Thailand

Molasse exports from Thailand reached X tons in 2022, picking up by X% against 2021. Overall, exports, however, saw a perceptible slump. The pace of growth appeared the most rapid in 2019 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, molasse exports totaled $X in 2022. In general, exports, however, continue to indicate a perceptible reduction. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for molasse exports from Thailand, with a X% share of total exports. Moreover, molasse exports to Japan exceeded the volume sent to the second major destination, the Philippines (X tons), threefold. South Korea (X tons) ranked third in terms of total exports 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 ($X) remains the key foreign market for molasses exports from Thailand, comprising X% of total exports. The second position in the ranking was taken by the Philippines ($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 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).

Export Prices by Country

The average molasse export price stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the export price, however, showed modest growth. The pace of growth was the most pronounced in 2020 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: 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 Taiwan (Chinese) (X%), while the prices for the other major destinations experienced more modest paces of growth.

Molasse Imports

Imports into Thailand

In 2022, overseas purchases of molasses were finally on the rise to reach X tons after two years of decline. Overall, imports, however, saw a deep reduction. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, molasse imports expanded markedly to $X in 2022. In general, imports, however, showed a deep setback. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Indonesia (X tons), India (X tons) and Lao People's Democratic Republic (X tons) were the main suppliers of molasse imports to Thailand.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Fiji (with a CAGR of X.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), India ($X) and Fiji ($X) were the largest molasse suppliers to Thailand.

Fiji, with a CAGR of X.3%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average molasse import price stood at $X per ton in 2022, increasing by X% against the previous year. In general, the import price continues to indicate a resilient expansion. The pace of growth appeared the most rapid in 2020 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were 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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