Molasses market news annual summary ...

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CONTENTS


Pace


Molasses price trends at New Orleans, 1965-70 (chart) ..........

Blackstrap molasses prices by months, f.o.b, tank car or
tank truck, 1969-70:


New Orleans, Houston, Corpus Christi, El


Paso,


Phoenix,


Mobile, South Florida, Savannah, Wilmington ................
Norfolk, Baltimore, Philadelphia, New York, Boston,
Albany, Buffalo, Toledo, Cincinnati, Minneapolis ..........
Chicago, St. Louis, Kansas City, Omaha, Memphis,
Denver, California Ports, Pacific Northwest Ports ..........

Beet, citrus, and hydrol molasses prices by months, f.o.b.
tank car or tank truck, 1969-70:
Colorado, Wyoming, Montana, Oregon, Utah, Idaho, Florida


Points,


Chicago, Kansas


City .................................


Price cc9arisons beQ
Balt" ri Chicago a

Hawaiian and Puerto Ri
mai n ad, and export


molasses and No.


ansas


2 yellow corn at


City, 1966-70 ...............


reduction, shipments to the U. S.
other countries, 1966-70 ............


, inshipments, imports and exports,


1961


S. molasses imports by country of origin, 1966-70 ..........

S. molasses imports by customs districts, 1966-70 ...........

S. molasses imports by country of origin and customs
districts, 1970 ...........................................


molasses


exports by country of destination, 1966-70 ......


S. molasses exports by country of destination and customs
districts, 1970 .................. ...........................


molasses


utilization, 1966-70 ............................


Grain Division


Consumer and Marketing


Service


March 1971


14-17


srs~s
(ir
'I C






MOLASSES MARKET NEWS ANNUAL SUMMARY

HIGHLIGHTS OF 1970


Prices


of molasses


generally


declined


during


1970 with


the closing prices


around


12 percent


percent
it above


below a
the 1969


year


earlier.


level.


Supplies


However,


prices


of molasses


for the


both


year


imports


averaged
and domes-


tic production,


were higher


than in 1969.


increase


demand from the


industry


kept


supply and


demand


in fair


balance


PRICES


Cane Molasses


Prices


during the
steady at 1
per gallon.


July.


of cane
year. F


blackstrap molasses


rom


during


January through April


from mid-August


Prices


Although prices


declined


closed


1970


the pri


showed only minor
ce at New Orleans


through December the price


around
1-1/2


1-1/2/ per


under


gallon


held


during May,


the closing price of


changes
held


at 13-1/2/
June and


1969,


age price was about
were mostly 2-3/ pe


The most


significant


1-1/


above


gallon above


the 1969
a year


factor responsible


average.


ago,


Prices


reflecting


at interior markets


freight


for the narrow price range


rat e


was


increases
the dis-


continuance


early in 1970,


of the practice


sellers of providing


for a "guar


antee
rail,
normal


against price


plus
share


decline.


off-shore replace


p


Also,


ement


increases


costs


in freight


increa


sed feed


rates,
usage,


both


ocean


moderate


down-turns.


Beet Molasses


Prices


Prices
light,


during


1970


followed


same


in the Oregon-Utah-Idaho area,


held


Montana area,
1969 average.


to beet
area.


pulp,
Liquid


unchanged


the product
The princip
which moved
supplies wer


year
found


where


at $37.00 per
good demand


use


mixe


trend


a


competition
ton. In t
and Drices


this product


to the heavily


adequate


s the
from


past
cane


few
mola


seasons.


sses


he Colorado-Wyoming-


adv


continued


concentrate


to meet


feedlots


anced


above


as an additive


located


in the


demands


Citrus Molasses


Despite


averaged


about


of 1970 held
ply clean-up,
major portion

Corn (Hydrol)


increases
t 75/ per
at a stead
however,
of citrus


late in the


ton under the


level


raised th
molasses


year


year


before.


of $17.50 per ton.


* 1970
was a


closing price


dded


citrus molasses


Quotations
Increased


the
deman


to $19.00 per


citrus pulp


and sold


in 1970


first
d and
ton.


months
a sup-
The


for feed.


Molasses


Prices


of almost
$31.50 per


of corn molasses


3.00 per ton
ton was about


during
$2.50


followed


cane mola


year.


sses


showed


The 1970 annual


higher than last


year


a price


average price


reduction
of


s average.


aver-


$1.50









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Comparative


Values


The relationship


between


corn


and molasses prices


continued


to favor molas-


ses during
the increase


1970.


The higher


ed molasses prices.


corn prices


Over the


last


summer


and fall more


long-term molasses


corn


than offset


prices


about


equal


out,


assuming


6-1/2


gallons of molasses


the equivalent


feeding


value of


one bushel


corn


SUPPLY


AND DISTRIBUTION


Production of


mainland


blackstrap


in 1970 was


estimated


to be about


million gallons greater


than 1969.


Increased in-shipments


from Hawaii


Puerto


Rico


contributed


to the higher


supplies.


These


two areas


shipped


about


7 million gallons more


gallons per
about 12 mi
the 1969 ha


-un


ton of beets,
llion gallons


rvest


Ir S


a


an last year. Ass
the production of
from the record of


uming
beet


an extraction rate of


molasses


in 1970 would


152 million gallons produced


.4
be down
during


season.


Molasses


increase
of recent


ses.


imports


from


of 20 million over


years


Imports


lion gallons


gallons
about 3


lower


of a
from
than


0 percent


indicates


bout


foreign
last y


countries totaled


ear.


an aggressive


81 million gallons


This volume


demand


of molasse


382 million ga
continues the u
cattle feeders
s from Mexico a


the Dominican Republic were respectively


in 1969.


of the total


Despite
volume


this


decrease,


imported.


gallons were posted from Australia and Brazil.


exported
volume.


about


7 million gallons


New Orleans


130 million gallons,


in Southern


is about
remained


the
abou


California


continued


about


showed


same as in y
t unchanged.


of molasses,


to be t
percent
total de


ears prior to


Imports


Gain
Keny
about


31


these two c
s of about
a, normally


seven


times


he principal receiving po
of the total imports. Re


dines of
1969. N


at New


York


about


northern
continue


ou


lions,
pward


an
trend


for molas-


nd 34


mil-


10 million


ntries


shipped


10 million
a small shipper,
it's normal
int, handling
ceiving districts


21 million gallons which


California


points


to register


declines,


with


55 million


Total


total received amounting to about 50 mil
n gallons in 1969 and 70 million gallons


available


supplies were


at a record hig


lion gallons


compared with


the previous year.

h of 750.4 million gallons


about


million gallons more


than a


year


and 12 million more


than


previous high
of distilled


than


in 1969.


established
spirits and
Available


in 1968. Industrial
pharmaceuticals was
supplies for feeding


utilization in the manufacture
estimated to be slightly higher
livestock in 1970 established


a record


of 588


million gallons.


This


represented


an increase of


million


over


a year


ago.


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Tabl e


--Price


comparisons


Bal timore,


between


Chicago


molasses


Kansas


City,


No. 2 yellow
1966-70 11


corn


Baltimore


Chicago


Kansas


City


Year


Corn


:Molasses:Differ-:


ence


Corn
bu.


Molasses:Differ-


gal.


Corn


:Mola


ence


sses
gal.


:Differ-
: ence


--Cents--


1970


,: 141.0
..: 133.0
..: 114.0
..: 130.0
..: 143.5


92.6


117.


100.1
92.3
102.1


+48.4
+15.5
+13.9


129.5


+37.


+41.4


119.7
145.0
124.7
120.3
132.0


+17.1


-15.


-10.9


136.
129.
119.


125.2
136.0


124.
146.
125.


+11.6
-16.7


119.0
134.6


A "rule


in carbohydrate


of thumb"


value


measure--


one


bushel


gallons


of molasses


are


corn--is widely used


about


compare


equivalent
the car-


bohydrate
ducted to


of molasses


value


of molasses


evaluate


required


ener
pro


corn.


gy
duc


This measure


produced from one


e


same


amount


is ba


bushel


on experiments


of corn and


con-


amount


energy.


Table


--Mola
U.


sses: Hawaiian
S. mainland, an


Puerto


exports


other


production
countries


shipments
1966-70


to the


Hawaii


Puerto


Rico


Year


Production


: Shipments
: to U. S.
: mainland


Production


: Shipments
: to U. S.
: mainland


Exports
to other
countries


--1.000


gallons--


1966


61,419


1968


1970


)r @@


60,2
55.6


66,15


. .. ..


43,955
41,600
44,200


8,124
5,618
6,201
4,614
3,193


18,653
14,120
9,134
5,893
8,794


Statisti


cal Reporting


Hawaiian Sugar
Association of
Bureau of the


Planter


Sugar
Census,


Servi
s Ass


Producers


Department


of Agriculture.


action.


of Puerto


Department


Rico.
Commerce.


Estimated.


: 6i~






Table


--Feed


shipment


industrial
s, imports,


mol as
and


ses:


exports,


S. production,
1961-70


Production


Cane


Year


Mainland


mills


Refiners
black-


strap


. Hawaii
*


Inshipments


Puerto


Rico


Total


cane


--1.000


gallons--


1961


average


0,647


52,328


193,


1966
1967
1968
1969
1970


.. ...


97,206
87,121
74,139
87,000


,443


46,113
42,700
49,000


60,271


,124
,619
,008


,430


3,193


190,790
196,423
206,399
170,047
196,130


Production


Year


Beet


Citrus


Hydrol


Total
domestic


U. S.
imports


Total


:Mainland :available


* exports


--1.000


supplies


allons--


1961-6


average.


113,


0,12


602,


1966
1967
1968
1969
1970


113,


S.....


136,694
152,000
140,000


17,291
9,063


23,125
20,400
21,000
21,000
22.000


314,157


333,
373,
356,


940
156
779


370,015


350,
368,
361,
381,


548
091
663
859


50,029


996
3,077
2,992
1,447


683
738
715
750


,492
,190
,450


Statistical Reporting


Agricultural


Service


Stabilization


U.S.


Department


and Conservation Ser


of Agriculture
vice,


U.S.


Department


Agriculture


Shipments


Shipments to


to U.S.


U.S.


mainland
mainland


only.
only.


Hawaiian Sugars


Bureau


Planters


ociation.


of Census.


Year


beets


Service.
Florida


harvested.


Citrus


Proces


Agricultural Stabilization


sors


Conservation


Association.


Bureau of
Estimated.


the Census,


Department of


Commer






Table 6.--Molasses, inedible:


U. S. imports by country of origin, 1966-70


Country of origin 1970 : 1969 : 1968 : 1967 : 1966


--1,000 gAllons--


Angola ................
Australia .............
Bahamas ...............
Barbados .............
Belgium and Luxembourg
Brazil ................
British Honduras ....
British Pacific Islands


Bulgaria .....
Cambodia .....
Canada .......
Colombia ....
Congo .......
Costa Rica ...


Dominican Republic ..
Ecuador ............
El Salvador .........
France ..............
French West Indies ..


S...


S ******l**tSS**


St......


Greece .....................:
Guatemala ..................:
Guyana .....................:
Haiti ......................:
Honduras ...................:
India ......................:
Indonesia ..... ...-. a


Israel
Italy .
Jamaica


Kenya .....
Leeward & W
Mauritania
Mauritius .
Mexico ....
Morocco ...
Mozambique
Netherlands
Netherlands
Nicaragua .
Pakistan .


indward Islands .:


Antilles


28,010
843
8,862

32,633
5,365
3,447

1,969
419
8,090

837
34,325
9,674
6,139
14,015

1,247
6,801
5,839
4,167
1,215
5,554

3,348

18,376
7,422
1,273
3,727
5,958
81,387
3,947
3,340


18,272
494
1,034
1,628
20,136
2,362


522
9,095
2,182

44,363
8,480
1,331
9,146


4,216
2,295
3,444
3,116

2,230

4,795
14,996


15,327
112,481
1,848
1,984


111(11S


Panama .....................:
Peru .......................:
Philippines ...............
Poland .*......... .........
Republic of China (Taiwan) .:
Republic of South Africa ...:
Switzerland ................:
Thailand ..................:
Trinidad and Tobago ........:
Turkey ...................
United Kingdom .............:


Venezuela ..........
Total ............


.. ..*.


5,154
9,898
2,655
11,675
10,665


5,440
2,738
978
7,421
19,366


49,203

991

17,862
4,566

5,112
-
668
11,873
-
828
28,914
4,817
5,157
7,935
570
2,075
7,193
3,620
3,189
2,153

4,630

8,689
26,928
954
1,773
6,207
10,657
94,335
1,681

6,010

3,426
2,000
3,343
6,061


20,137

6,757

19,935
2,266


1,509
a
1,217
15,392
a
1,000
40,171
5,022
4,048
5,767
5,412
4,300
6,528
2,516
5,688
1,038


2,023
19,138


6,583
130,705


1,817

2,662
19,154
963


4,722


11,341


13,875

5,529
2,838
381,859


9,480


1,451
17,351
4,247
7,414

361,663


21,949


7,081
1,802
3,839

368,091


7,705
*-
3,979
2,394
350,548


942
22,117
94
2,390


1,267


1,274
6,271'


a
47,533
10,888
1,210
6,076
3,526

5,292
1,837
4,056
2,327
3,278
3,278


16,508


6,219
99,312
2,119

578
1,424
3,438

830
24,665
4,246
6,817
3,811
3,152
1,377

5,992

5,960
3,647
314,157


tb I? a


n






Table 7.--Molasses, inedible:


imports by customs districts, 1966-70


Custom districts : 1970 : 1969 1968 : 1967 : 1966
--1,000 gallons--


Arizona ...... ..
Buffalo ...............:
Chicago ...............:
Connecticut ... ...

Dakota ..
El Paso ......... .....:
Florida ..........
Galveston ..........:

Georgia .............:
Houston ...............:


Laredo .........
Los Angeles ....


Maine & New Hampshire .:
Maryland
Massachusetts .........:
Michigan


Mobile ................
New Orleans ...........
New York ..............
North Carolina ........


Ohio ..
Philadelphia ..........:
Puerto Rico....
Sabine ................:

San Diego .............:
San Francisco
Vermont ...............:
Virginia ........... :
Washington :

Total ...............:


3,498

211
11,280


15,335
3,642
8,045

7,247
57,973
1,286
17,718

173
20,132
3,305


13,028
130,007
50,739
3,635


1,539
7,076
7,091
3,647

4,804
4,840
411
3,612
1,585


381,859


4,839
113

11,385


14,367
3,002
2,798

2,377
60,415
1,644
23,335

151
25,696
1,751


17,142
93,122
55,657
3,800


1,845
7,717
1,661
2,117

19,239
4,857
366
2,267


361,663


5,155
81

5,251


12,954
8,620
1,431

4,540
35,976
221
19,525

140
22,860
2,841
92

12,890
108,049
70,523
4,699


2,267
26,585
5,407
2,456

9,495
2,660
297
2,916
160

368,091


4,800
2,446

3,307


13,745
1,517
5,199

4,247
44,985
1,152
18,441

161
20,037
4,605
30

13,683
113,359
49,006
4,639


1,980
11,442
1,086
3,154

9,259
12,926
489
4,618
235

350,548


5,037
3,047

428

23
8,539
2,378
3,395

5,677
40,717
685
22,139

134
15,106
2,137
154

9,404
102,906
54,329
3,904


1,876
12,584

2,479

4,130
8,313
802
3,715
119

314,157


Bureau


Census






Table


--Molasses, inedible: U.


imports by country of origin


and customs districts, 1970


Country : Arizona : Chicago: Conn. :El Paso :Florida :Galveston
S S S
p S


--1,000 gallons--


Australia
Bahamas .
Barbados


Brazil


2,981


1,063


British Honduras


British Pacific Islands


Cambodia ...............
Canada ..............
Colombia ..............
Costa Rica ...
Dominican Republic .....
Ecuador ...............:

El Salvador .......


France
Greece


1,901


Guatemala


Guyana .
Haiti ........

Honduras


India


Israel .. .. ....... .....
Jamaica ..
Kenya .................:
Leeward and Windward Is.:

auritania .
Mauritius .-------------:


Mexico


3,498


4......~i~l))


15,335


Morocco ..
Mozambique
Nicaragua


1,042


Pakistan


Panama


Peru


Philippines


.. .*


Republic of South Africa:
Trinidad and Tobago ...


United Kingdom
Venezuela ....


2,466


0tS***** S


rr /


usa8


3,a76


"""'






Table


--Molasses,


inedible:


customs


imports


districts,


country


origin


1970


: : : Los : Maine :,, -, -, :Massachu-: .
Georga Houston Laredo Maryland Mobile
: Angeles: & N.H. setts


--1,000


lions--


4,56


2,477


4,49


1,247


,120


1,681


2,254


1,215


1,026


2,613


1,117


1,129


1.286


7,071


1,241


1,441


,213


,905


1,10


4,951


2,532


8.9~6





Table 8.--Molasses, inedible: U.


imports by country of origin


and customs districts, 1970 (continued)


Country : New : New :North : Ohio :Phila- : Puerto
1Orleans :York :Carolina: :delphia Rico
: --1,000 gallons--


Australia ..............:
Bahamas..............
Barbados ...........
Brazil .................
British Honduras .......:
British Pacific Islands.:


Cambodia .........
Canada .................
Colombia .........:
Costa Rica *
Dominican Republic.....:
Ecuador ...

El Salvador ............:
France ......:
Greece ....


3,412


7,466
21,681


1,969


3,526

13,297
6,253

2,993


1,629


Guatemala


Guyana .................:
Haiti --*aaa-a-a --- a-


2,174


3,756


Honduras


India .........
Israel .........


3,392
3,348


Jamaica -...............: 3,492
Kenya ....... -


Leeward and Windward Is.:

Mauritania ....
Mauritius ...........


Mexico
Morocco


1,475
3,996


1,273


2,610
3,546
26,846


1,977


2,719


Mozambique .......:


Nicaragua

Pakistan
Panama ..


2,099
1,934


6,244


.. S.. a*


Peru


Philippines


.


Republic of South Africa:
Trinidad and Tobago ....


2,655
7,582
5,076
1,879


United Kingdom
Venezuela ...


5,529
2,838
I~fi I -..-.---- --a r--


8,596


2,043


2,591


55,87


1,539


7,306


3,186


2,045
3,958


J m


,, -- -


N


mt i *


n rrrr*


n A A





Tabl e


--Molasses,


inedible:


customs


imports


distr


icts,


1970


country of
(continued)


origin


Sabine : San San Vermont : Virginia : Washing- Total
SDiego Francisco: ; : ton g


1,24


1,081w


8,010
843
8,862
2,633


,447


1,969
419
8,090
837
4,325
9,674


6,139
14,015
1,247
6,801
5,839
4,167

1,215
5,554
3,348


1,273


2,97


3,727
5,958
1,387
3,947
3,340
5,154


1.65


9,898
2.655


,201


3.6.7


4,.840


.612


r 7


1.585


11,341
13,875

5,529
2,838
381,859


L.80k






Table 9.--Molasses, inedible:


exports


by country of destination, 1966-70 1/


Country of Destination : 1970 : 1969 : 1968 : 1967 : 1966
---I 000 gallons--


Bahamas
Belgium


& Luxembourg


Canada


1,277


2,439


4,788


4,465


3,883


Chile
France
Ghana


*
.......0.... .... ....


2,182


Hong Kong


India


...................: 2


Iran ........................
Ireland .....................
Israel ......................:


Italy .
Jamaica


Japan
Libya


- 6


2,987


....: 3


Mexico .............
Netherlands ........
Netherlands Antilles


.......,:
OD@@O@OD@


6,540
2,254


Panama


63
5
2,254


173
3,217
817


369
6,460


25
11,462


Philippines ..............
Republic of South Africa .
Singapore ................
Spanish Africa .........


Sweden


......: 3


Switzerland


4,034


United Kingdom ..............
West Germany ................


1,834


2,421


2,312


10,241


tsg85


15,197


15,116


20,239


1/ Includes exports from Puerto Rico


Bureau


the Census


1,347


Bermuda .


Total .........,...........





Table


--Molasses,


inedible:


destination


customs


exports by
districts,


country
1970


o unt. New San .Gi great : North Puerto.
Country : :Seattle- :Detmrit: :
York .Diego .Falls .Dakota D Rico .


--1,000


gallons--


Netherland
Antilles


2,25


2,254


Israel


Canada ....
Netherlands


.....: 140
. ..
*5***L~


,540


1,277
6,540


United Kingdom
India ........
Mexico .......


Total


10,241


Bu recmt


the Census


Table


--Molasses:


Estimated


utilization,


United


States


1966-70


Industrial


Year


:Distilled:
: spirits :


Yeast


citric


:Pharmaceuti-


acid:cals


:Mixed
:direct


eeds,:
feed-:


edi-: Total


Total
utili-


:ble molasses


: silage


: nation


--Million


lions--


50.0


100.0
100.0
100.0
100.0
100.0


1969
1970


159.


170.3
159.7
162.2


650.0


683.
738.
715.
750.


1 sMo
molasses


la


ccpc
La La La


utilized in feeds


used industrially from


is a residual item, calculated
total mainland supplies without


by subtracting
considering


changes
rll /


in stocks.
^,4- vn + a A 3





UNITED STATES
Consumer


DEPARTMENT OF
and Marketing


AGRICULTURE
Service


Grain


Division


Room


5028,


Federal


Office


Building


701 Loyola Ave.


New Orleans,


Loui si ana


70113


POSTAGE & FEES PAID
United States Deportment of Agriculture


Official Business


PENALTY FOR


PRIVATE USE,


$300


IIVERSITY OF FLORIDA
II 121 i1 111 1 1 II
3 1262 08591 1120


6173


DLULUO


8122


oo01


DOCUME


LIBR


UNIV


LIBRARI


UNIV


FLOOR


GAINESVILLE


32601


4,


24


4i


(C~Ea-133~


* U. S. GOVERNMENT PRINTING OFFICE : 1971 431-844