Honey has an unlimited shelf life and does not spoil. This is because honey has a very low water content - just 17% - which is much lower than what fungi and bacteria need to thrive. These dry conditions help to dehydrate bacteria and make the mixture resistant to spoiling. It also has an acidity level that is not favorable to most bacteria. Molasses, on the other hand, has a water content of about 22%. Although that doesn’t seem like that much more, it makes a big difference in the shelf life of the two different products.