Molasses market in Colombia

Earlier Report Observations

In 2018, the molasses market in Colombia stood at 184.1 thousand tonnes. The following year, it declined to 170.7 thousand tonnes, partly due to global sugar price volatility which affected production decisions in the sugar industry. The Price Stabilization Fund (FEPA) continued to provide price support to producers.

The market dropped sharply to 128.5 thousand tonnes in 2020 as exports surged to 47.4 thousand tonnes. By 2021, exports normalized, and market volume recovered to 153.0 thousand tonnes.

Growth resumed in 2022, reaching 171.3 thousand tonnes, after which the market stabilized at 170.4 thousand tonnes in 2023. This period was influenced by new food labeling rules introduced in 2022, along with inflationary pressure and shifts in consumer habits, which restrained demand for sugar-containing products including molasses.

Production molasses in Colombia

In kind, 2017-2020, K t

Top producers of molasses, 2017-2020

World map of production of molasses, 2017-2020

Colombia's molasses production rebounded after a two-year decline. In 2020, the country produced 175.9 thousand tons of molasses, marking a 1.1% increase from the previous year. However, looking at the broader period from 2017 to 2020, production fell by 15.4%, which translates to an average annual decline of 5.4%. The lowest production level was recorded in 2019 at 173.9 thousand tons, with the largest year-on-year drop of 11.2% occurring that same year.

Annual dynamics of production in Colombia in kind, 2017-2020, K t

Exports molasses from Colombia

Exports in kind, t

The export market for molasses from Colombia experienced significant volatility during the observed period. In 2019, exports hit their lowest point at 4,205 tons, but then surged dramatically in 2020 to 47,390 tons—a staggering 1,027.1% increase from the previous year. This swing resulted in an 11.3-fold difference between the peak in 2020 and the trough in 2019. The largest decline occurred in 2018, when exports dropped by 70.4%.

Annual dynamics of product's exports from Colombia in kind, 2017-2020, t

From 2017 to 2020, the United States, Ecuador, and the United Kingdom were the top buyers of Colombian molasses, collectively accounting for 84.7% of total exports in volume. The United States led with 43.3% of exports, followed by Ecuador at 31.8%, and the United Kingdom at 9.7%.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Colombia in kind, 2017-2020

Exports in value, K $ US

The value of molasses exports from Colombia showed an unstable trend over the timeframe. In 2019, export revenues reached their lowest level at 629 thousand US dollars, but rebounded sharply in 2020 to 7,831 thousand US dollars—a 1,145.6% increase. This created a 12.5-fold gap between the peak in 2020 and the trough in 2019. The most significant decline happened in 2018, with a drop of 66.8%.

Annual dynamics of product's exports from Colombia in value, 2017-2020, K $ US

During the 2017–2020 period, the United States, Ecuador, and the United Kingdom remained the key destinations for Colombian molasses exports in value terms, together representing 80.7% of total export revenues. The United States accounted for 47.7% of exports by value, Ecuador for 25.6%, and the United Kingdom for 7.4%.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Colombia in value, 2017-2020

Imports molasses to Colombia

Imports in kind, t

Colombia's molasses import market displayed considerable instability. In 2017, imports were at their lowest with minimal volumes, but spiked in 2019 to 1,015 tons, creating a massive 7,522-fold difference between these years. By 2020, imports plummeted to approximately 0.2 tons, a 100.0% decrease from 2019. The most dramatic increase occurred in 2018, when imports jumped by 77,997.8%.

Annual dynamics of product's imports to Colombia in kind, 2017-2020, t

From 2017 to 2020, Panama dominated Colombia's molasses imports in volume, holding a 90.2% share of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Colombia in kind, 2017-2020

Imports in value, K $ US

The value of molasses imports into Colombia saw noticeable fluctuations. In 2017, import values were at their lowest, but soared in 2018 to 160 thousand US dollars, resulting in a 1,018-fold variation between these years. By 2020, import values had dropped sharply to 0.3 thousand US dollars, a 99.7% decline from 2019. The largest increase was recorded in 2018, with a rise of 101,704.6%.

Annual dynamics of product's imports to Colombia in value, 2017-2020, K $ US

Over the 2017–2020 period, Paraguay and Panama together accounted for 98.1% of Colombia's total molasses import value, highlighting a highly concentrated market with only minor contributions from other countries.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Colombia in value, 2017-2020