Venezuela: Beef Market 2024

Beef Market Size in Venezuela

In 2021, the Venezuelan beef market increased by 0.1% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, recorded a mild setback. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Beef Production in Venezuela

In value terms, beef production shrank modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 25%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

In 2021, the average yield of beef (cattle meat) in Venezuela contracted modestly to X kg per head, reducing by -3.4% on 2020. Overall, the yield, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the yield increased by 17% against the previous year. As a result, the yield reached the peak level of X kg per head, and then contracted slightly in the following year.

In 2021, number of animals slaughtered for beef production in Venezuela expanded remarkably to X heads, increasing by 11% on 2020 figures. Overall, the number of producing animals, however, saw a deep downturn. The number of animals slaughtered for beef production peaked at X heads in 2012; however, from 2013 to 2021, producing animals failed to regain momentum.

Beef Exports

Exports from Venezuela

In 2015, approx. X tons of beef (cattle meat) were exported from Venezuela; almost unchanged from 2014 figures. In general, exports saw a sharp setback. The smallest decline of 99.9% was in 2014. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2015, the exports failed to regain momentum.

In value terms, beef exports totaled $X in 2015. Over the period under review, exports saw a precipitous setback. The smallest decline of 99.9% was in 2014. The exports peaked at $X in 2013; however, from 2014 to 2015, the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons) was the main destination for beef exports from Venezuela, with a approx. 100% share of total exports.

From 2013 to 2015, the average annual rate of growth in terms of volume to the Netherlands was relatively modest.

From 2013 to 2015, the average annual growth rate of value to the Netherlands was relatively modest.

Export Prices by Country

The average beef export price stood at $X per ton in 2015, almost unchanged from the previous year. Over the period under review, the export price enjoyed a notable increase. The most prominent rate of growth was recorded in 2014 when the average export price decreased by 99.9% against the previous year. The export price peaked in 2015 and is likely to see steady growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for the Netherlands.

From 2013 to 2015, the rate of growth in terms of prices for the Netherlands amounted to 0.0% per year.

Beef Imports

Imports into Venezuela

In 2021, overseas purchases of beef (cattle meat) decreased by -14.1% to X tons, falling for the seventh year in a row after three years of growth. Over the period under review, imports saw a precipitous slump. The pace of growth was the most pronounced in 2014 when imports increased by 35% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, beef imports declined modestly to $X in 2021. Overall, imports showed a sharp slump. The growth pace was the most rapid in 2014 when imports increased by 24%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Brazil (X tons) constituted the largest supplier of beef to Venezuela, accounting for a 67% share of total imports. Moreover, beef imports from Brazil exceeded the figures recorded by the second-largest supplier, Colombia (X tons), fourfold. The third position in this ranking was taken by Nicaragua (X tons), with a 7.9% share.

From 2012 to 2021, the average annual growth rate of volume from Brazil stood at -35.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (-27.0% per year) and Nicaragua (-31.8% per year).

In value terms, Brazil ($X) constituted the largest supplier of beef (cattle meat) to Venezuela, comprising 81% of total imports. The second position in the ranking was taken by Colombia ($X), with an 11% share of total imports. It was followed by Nicaragua, with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Brazil stood at -31.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (-28.4% per year) and Nicaragua (-35.8% per year).

Import Prices by Country

The average beef import price stood at $X per ton in 2021, rising by 14% against the previous year. In general, import price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, beef import price increased by +62.6% against 2017 indices. The pace of growth appeared the most rapid in 2018 an increase of 15%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+7.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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