Molasses market in Honduras

Earlier Report Observations

The molasses market in Honduras began the period with production of 199.0 thousand tonnes in 2018, supported by a robust sugarcane harvest of 5.5 million tonnes that year. In 2019, a growing global sugar deficit pushed international prices upward, affecting sugar and molasses trade, while labor shortages in sugarcane agriculture posed challenges. The following year, a Colombian constitutional court ruling on land-use restrictions likely constrained regional sugarcane cultivation, contributing to a dip in molasses output to 195.0 thousand tonnes in 2020.

After a sharp production decline to 124.5 thousand tonnes in 2021, the sector rebounded in 2022 as productivity improvements and external demand boosted both production and exports. This recovery expanded the domestic market size to 52.3 thousand tonnes, its highest point in the period, as production growth outpaced export growth.

By 2023, molasses exports rose to 130.5 thousand tonnes, generating over $100 million in revenue, as the Honduran Sugar Producers Association highlighted the sector's role in the national economy. This strong export orientation reduced the domestic market volume to 18.8 thousand tonnes, underscoring the industry's reliance on international sales.

Production molasses in Honduras

In kind, 2017-2020, K t

Top producers of molasses, 2017-2020

World map of production of molasses, 2017-2020

Honduras produced 195.0 K t of molasses in 2020, marking a slight decline of 2.5% from the previous year. Looking at the period from 2017 to 2020, production decreased by 7.1%, which translates to an annualized rate of 2.4%. The largest drop occurred in 2018, with a 5.2% decrease, while the biggest increase was recorded in 2019 at 0.5%.

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

In value, 2017-2020, K $ US

Honduras's molasses production increased for the second consecutive year. In 2020, the output was valued at 24 278 K $ US, showing an 11.1% advance compared to 2019. Over the 2017-2020 period, production rose by 7.2%, with a compound annual growth rate of 2.4%. The lowest value was recorded in 2018 at 17 103 K $ US, which also saw the largest decline of 24.5%. In contrast, the largest increase occurred in 2019, with a 27.8% rise.

Annual dynamics of production in Honduras in value, 2017-2020, K $ US

Exports molasses from Honduras

Exports in kind, K t

After a two-year decrease, molasses export volumes from Honduras increased. In 2020, the country exported 153.8 K t of molasses, up by 1.3% from the previous year. Between 2017 and 2020, exports decreased by 6.8%, equating to an annualized rate of 2.3%. The lowest volume was recorded in 2019 at 151.9 K t, which also saw the largest decline of 4.5%.

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

From 2017 to 2020, two markets—the United States and the United Kingdom—played leading roles in Honduras's molasses exports in kind, together accounting for 92.0% of total flows, while the remainder was distributed among other destinations.

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

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

Exports in value, K $ US

Honduras's molasses export value increased for the second consecutive year. In 2020, the country exported 19 154 K $ US of molasses, indicating a strong advance of 15.4% from a year earlier. Over the 2017-2020 period, exports increased by 7.6%, with an annualized rate of 2.5%. The minimum value was recorded in 2018 at 13 666 K $ US, which also saw the largest decline of 23.2%. The largest increase occurred in 2019, with a 21.5% rise.

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

From 2017 to 2020, the United States and the United Kingdom were the dominant buyers of molasses from Honduras in value terms, together taking 90.4% of total exports, with other partners forming a less significant portion.

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

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

Imports molasses to Honduras

Imports in kind, K t

There were noticeable fluctuations in import volumes during this period. In 2020, Honduras imported 0.0 K t of molasses from abroad, up by 31.3% compared to 2019. The maximum value was recorded in 2018 at 0.0 K t, which also saw the largest increase of 6,409.7%. The largest decline occurred in 2019, with a 37.0% drop. Overall, a 65-fold variation was recorded between the maximum in 2018 and the minimum in 2017.

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

From 2017 to 2020, the United States concentrated 77.6% of total molasses imports in kind to Honduras, with the remaining flows scattered across multiple smaller partners.

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

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

Imports in value, K $ US

The market showed signs of volatility over the observed period. In 2020, Honduras imported 9 K $ US of molasses, up by 74.9% versus the previous year. Imports reached their lowest point in 2017 and hit their maximum in 2020, with a 1.8-fold variation between these years. The largest decline was recorded in 2019 at 2.3%.

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

From 2017 to 2020, three main markets—the United Arab Emirates, the United States, and France—together absorbed 95.2% of total molasses imports in value terms to Honduras.

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

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