Molasses market in the Philippines

Earlier Report Observations

The Philippine molasses market volume showed significant swings from 2018 to 2023. After a peak of 1 978 K t in 2019, it fell to 1 690 K t in 2020, pressured by import restrictions that required specific certificates and permits, curtailing inbound shipments. A sharper drop to 1 111 K t followed in 2021, driven by tight sugar balances that limited raw material availability and by rising fuel prices which increased production costs, squeezing local output.

Government interventions to manage the sugar crisis, including import orders and regulatory actions by the Sugar Regulatory Administration (SRA), helped reverse the trend in 2022, lifting market volume to 1 288 K t despite ongoing low productivity from adverse weather, high fertilizer costs, and pest infestations. The market extended its recovery to 1 344 K t in 2023. By 2024, the sector faced severe El Niño drought damage in key sugar regions, threatening production, while SRA policies continued to shape the balance between domestic supply and bioethanol feedstock demand.

Production molasses in the Philippines

In kind, 2017-2020, K t

From 2017 to 2020, the Philippines ranked 10th globally in molasses production volume.

Top producers of molasses, 2017-2020

World map of production of molasses, 2017-2020

In 2020, the Philippines produced 1 170 K t of molasses, showing little change from 2019. Over the period from 2017 to 2020, production grew by 3.9%, averaging an annual increase of 1.3%. The highest production level was recorded in 2018 at 1 180 K t. That year saw the largest increase of 4.8%, while 2019 experienced the largest decline of 0.8%.

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

Exports molasses from the Philippines

Exports in kind, K t

Molasses exports from the Philippines declined for the second year in a row. In 2019, exports fell to 0.0 K t, a sharp drop of 99.7% compared to the previous year. From 2017 to 2019, exports decreased by 99.9%, with an average annual decline of 91.7%.

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

Between 2017 and 2020, South Korea and Thailand were the key export partners for the Philippines in terms of volume, together accounting for 84.6% of total exports, while other countries made up the remainder.

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

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

Exports in value, M $ US

The market exhibited volatility during the observed period. Import levels fluctuated significantly, with a 718-fold difference between the high in 2018 and the low in 2019. In 2019, molasses exports from the Philippines totaled 0.0 M $ US, a 99.9% decrease from 2018. The peak value was recorded in 2018 at 16.3 M $ US, which also saw the largest increase of 322.7%.

Annual dynamics of product's exports from the Philippines in value, 2017-2020, M $ US

From 2017 to 2020, the Philippines' molasses exports in value terms were heavily concentrated on New Zealand, which accounted for 80.4% of total flows, with other countries comprising the remaining share.

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

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

Imports molasses to the Philippines

Imports in kind, K t

The data shows irregular changes, pointing to a volatile market. Volumes reached their highest point in 2019 and their lowest in 2018, with a 3.3-fold difference between these years. In 2020, foreign molasses supplies to the Philippines amounted to 520.2 K t, a 35.6% decrease year-over-year. The minimum value was 244.7 K t in 2018, while the maximum was 808.3 K t in 2019, which also recorded the largest increase of 230.3%.

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

During 2017–2020, three main markets—Indonesia, Thailand, and India—collectively accounted for 89.2% of total molasses imports by volume to the Philippines.

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

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

Imports in value, M $ US

The market displayed volatility over the observed period. Imports peaked in 2019 and reached their lowest point in 2018, with a 3.7-fold difference between these years. In 2020, imported molasses volumes in the Philippines reached 109.3 M $ US, reflecting an 18.0% decrease from the previous year. The minimum value was 36.5 M $ US in 2018, which saw the largest decline of 28.5%, while the maximum was 133.3 M $ US in 2019, recording the largest increase of 265.6%.

Annual dynamics of product's imports to the Philippines in value, 2017-2020, M $ US

From 2017 to 2020, Indonesia (46.1% of imports by value), Thailand (29.4%), and India (13.6%) together accounted for 89.2% of total molasses imports in value terms, serving as the primary sources for the Philippines.

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

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