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Thailand-Iran molasses trade hits highest in June

Thailand-Iran molasses trade hits highest in June

TEHRAN: Iran exported 31,230 tons of molasses to Thailand in June, which is a record monthly high since 2010, registering an eightfold increase compared with the previous month.

Molasses is a viscous product resulting from refining sugarcane or sugar beet juice into sugar. Sugarcane molasses is agreeable in taste and aroma, and is primarily used for sweetening and flavoring foods while sugar beet molasses is mainly used as an animal feed additive. ILNA did not specify whether the molasses exported to Thailand was refined from sugarcane or sugar beet.

According to Thai Customs Department, Iran-Thailand trade stood at $421 million in 2016, indicating a 36% rise year-on-year. During the year, Iran exported $153 million worth of commodities to Thailand, up 67% YOY, and imported $268 million in return, up 23% YOY.