Molasses market in Thailand, 2026

Earlier Report Observations

The molasses market in Thailand expanded from 5 416 thousand tons in 2018 to 5 871 thousand tons in 2019, driven by a major restructuring of the sugar industry that included the deregulation of domestic sugar prices. This liberalization removed price controls previously enforced by the Ministry of Commerce, encouraging sugar mill operations and thereby increasing the output of molasses as a by-product.

A severe drought in 2020, compounded by the global COVID-19 pandemic which disrupted demand and supply chains, caused a sharp contraction in the market to 3 260 thousand tons. Recovery began in 2021 as the economy rebounded, boosting industrial demand for molasses and leading to higher imports, which lifted market volume to 3 489 thousand tons. The upward trend continued through 2022, reaching 4 025 thousand tons, aided by the enactment of the updated Sugarcane and Sugar Act that provided clearer business rules for industry operators and supported production recovery.

By 2023, the market stabilized at 4 082 thousand tons, reflecting a balance between improved production capacities and regulatory measures such as the one-year price control on sugar implemented in October 2023. Although sugar production faced drought-related challenges, molasses output remained resilient, supported by the ongoing strict government oversight of the sugar industry and the approval of new sugar mill projects aimed at expanding capacity.

Production molasses in Thailand

In kind, 2017-2020, K t

From 2017 to 2020, Thailand held the third position globally in molasses production.

Top producers of molasses, 2017-2020

World map of production of molasses, 2017-2020

Following two years of growth, Thailand's molasses production experienced a decline. In 2020, production reached 3 389 thousand tonnes, marking a sharp year-over-year contraction of 42.3%. Over the 2017-2020 period, overall production decreased by 12.2%, with a compound annual growth rate of 4.2%. The peak was recorded in 2019 at 5 876 thousand tonnes, while the largest increase occurred in 2018 with a rise of 41.5%.

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

Exports molasses from Thailand

Exports in kind, K t

The data shows irregular fluctuations, pointing to a volatile market environment. The lowest export volume was recorded in 2019, while the highest occurred in 2020, with a peak-to-trough ratio of 49 times. In 2020, Thailand exported 397.2 thousand tonnes of molasses, representing a dramatic increase of 4,835.8% compared to the previous year. The minimum value was 8.0 thousand tonnes in 2019, and the largest decline of 96.3% also took place that year.

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

Between 2017 and 2020, the Philippines, South Korea, and Japan emerged as the primary markets for Thailand's molasses exports in volume terms. The Philippines accounted for 36.7% of exports, while South Korea and Japan each contributed 23.9%. Together, these three countries represented 84.5% of total export flows.

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

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

Exports in value, K $ US

The data indicates irregular changes, reflecting a volatile market environment. The lowest export value was recorded in 2019, with the highest reached in 2020, showing a 74-fold gap. In 2020, Thailand's molasses exports totaled 62 300 thousand US dollars, amounting to a substantial increase of 7,326.7% from the previous year. The minimum value was 839 thousand US dollars in 2019, and the largest decline of 96.4% also occurred that year.

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

Throughout 2017-2020, the Philippines, Japan, and South Korea remained the key destinations for Thailand's molasses exports in value terms. The Philippines accounted for 34.9% of exports, Japan for 24.5%, and South Korea for 21.0%. Collectively, these three markets represented 80.4% of total export flows.

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

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

Imports molasses to Thailand

Imports in kind, K t

The market displayed an unstable trend over the period. Import volumes hit their lowest point in 2019 and peaked in 2017, with a top-to-bottom ratio of 97 times. In 2020, Thailand imported 267.7 thousand tonnes of molasses, representing an 8,697.5% increase compared to the previous year. The minimum value was 3.0 thousand tonnes in 2019, and the largest decline of 98.2% also occurred that year.

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

From 2017 to 2020, Indonesia, Australia, and India were the largest suppliers of molasses to Thailand in volume terms. Indonesia accounted for 29.0% of imports, Australia for 24.1%, and India for 15.3%. Together, these three countries formed 68.4% of total imports.

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

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

Imports in value, K $ US

The market exhibited an unstable trend throughout the timeframe. Import values dropped to their minimum in 2019 and climbed to their maximum in 2020, reflecting a 28-fold shift. In 2020, Thailand's molasses imports amounted to 44 907 thousand US dollars, corresponding to a steep gain of 2,665.4% compared to the previous year. The minimum value was 1 624 thousand US dollars in 2019, and the largest decline of 92.8% also took place that year.

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

Throughout 2017-2020, Indonesia, Australia, and India remained the key sources for Thailand's molasses imports in value terms. Indonesia accounted for 26.7% of imports, Australia for 22.2%, and India for 15.4%. Collectively, these three countries represented 64.3% of total import flows.

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

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