Western Africa: Non-Cane Molasses Market 2024

Non-Cane Molasses Market Size in Western Africa

The West African non-cane molasses market shrank slightly to $X in 2022, therefore, remained relatively stable against the previous year. Over the period under review, consumption posted a perceptible increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Non-Cane Molasses Production in Western Africa

In value terms, non-cane molasses production reduced modestly to $X in 2022 estimated in export price. Overall, production showed a strong expansion. The growth pace was the most rapid in 2018 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Non-Cane Molasses Exports

Exports in Western Africa

In 2022, shipments abroad of molasses (excluding cane molasses) increased by X% to X tons, rising for the second year in a row after two years of decline. In general, exports, however, faced a significant decline. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, non-cane molasses exports expanded modestly to $X in 2022. Overall, exports, however, showed a sharp decrease. The pace of growth was the most pronounced in 2016 when exports increased by X%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Gambia represented the major exporter of molasses (excluding cane molasses) in Western Africa, with the volume of exports reaching X tons, which was approx. X% of total exports in 2022. Senegal (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Benin (X%). Cote d'Ivoire (X tons) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to non-cane molasses exports from Gambia stood at X%. At the same time, Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. Senegal experienced a relatively flat trend pattern. By contrast, Benin (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Gambia, Senegal, Benin and Cote d'Ivoire increased by X, X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Gambia ($X) remains the largest non-cane molasses supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Senegal ($X), with a X% share of total exports. It was followed by Benin, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Gambia totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (X% per year) and Benin (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, picking up by X% against the previous year. In general, the export price continues to indicate a buoyant increase. The pace of growth was the most pronounced in 2013 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

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 Cote d'Ivoire ($X per ton), while Benin ($X per ton) was amongst the lowest.

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

Non-Cane Molasses Imports

Imports in Western Africa

Non-cane molasses imports skyrocketed to X tons in 2022, jumping by X% compared with 2021 figures. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, non-cane molasses imports surged to $X in 2022. In general, imports continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2020 with an increase of X%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Burkina Faso represented the largest importing country with an import of about X tons, which finished at X% of total imports. Mauritania (X tons) ranks second in terms of the total imports with a X% share, followed by Guinea-Bissau (X%) and Sierra Leone (X%). The following importers - Guinea (X tons), Cote d'Ivoire (X tons) and Gambia (X tons) - each amounted to a X% share of total imports.

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

In value terms, the largest non-cane molasses importing markets in Western Africa were Sierra Leone ($X), Burkina Faso ($X) and Guinea ($X), together accounting for X% of total imports.

In terms of the main importing countries, Burkina Faso, with a CAGR of X%, saw 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 import price in Western Africa amounted to $X per ton, reducing by X% against the previous year. In general, the import price, however, recorded prominent growth. The growth pace was the most rapid in 2021 an increase of X%. As a result, import price reached the peak level of $X per ton, and then dropped markedly in the following year.

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 Sierra Leone ($X per ton), while Mauritania ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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