Rum is a distilled alcoholic beverage made from sugarcane byproducts, such as molasses, or directly from sugarcane juice, by a process of fermentation and distillation. The distillate, a clear liquid, is then usually aged in oak barrels. The majority of the world's rum production occurs in the Caribbean and Latin America. Rums are produced in various grades. Light rums are commonly used in cocktails, whereas "golden" and "dark" rums were typically consumed straight or neat, on the rocks, or used for cooking, but are now commonly consumed with mixers. Premium rums are also available, made to be consumed either straight or iced.