The molasses market continues to evolve, We are seeing positive signs on the supply side of the market with India expected to have a good crop and Thailand’s crop expected to be better than last year. However, we are expecting this increase to be balanced by the increase in global demand driven mainly by increased ethanol production for fuel but also with additional demand for feed use due to very high grain prices. The net effect is that we expect molasses prices to rise as we move through 2022.

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