Venezuela: Breakfast Cereal Market 2022

Breakfast Cereal Market Size in Venezuela

In 2021, after five years of growth, there was decline in the Venezuelan breakfast cereal market, when its value decreased by -X% to $X. Overall, consumption enjoyed a prominent increase. Over the period under review, the market hit record highs at $X in 2020, and then dropped in the following year.

Breakfast Cereal Production in Venezuela

In value terms, breakfast cereal production reduced slightly to $X in 2021 estimated in export price. Over the period under review, production enjoyed a prominent increase. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. Breakfast cereal production peaked at $X in 2020, and then fell in the following year.

Breakfast Cereal Exports

Exports from Venezuela

In 2021, exports of breakfast cereals from Venezuela skyrocketed to X tons, picking up by X% compared with the previous year's figure. Over the period under review, exports, however, recorded a pronounced slump. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, breakfast cereal exports soared to $X in 2021. Overall, exports, however, saw a slight contraction. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for breakfast cereal exports from Venezuela, accounting for a X% share of total exports. Moreover, breakfast cereal exports to the United States exceeded the volume sent to the second major destination, Panama (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (X% per year) and Canada (+X% per year).

In value terms, the largest markets for breakfast cereal exported from Venezuela were the United States ($X), Panama ($X) and Canada ($X), together comprising X% of total exports.

In terms of the main countries of destination, Canada, with a CAGR of +X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average breakfast cereal export price stood at $X per ton in 2021, shrinking by -X% against the previous year. Over the period under review, the export price, however, saw a notable increase. The pace of growth appeared the most rapid in 2015 when the average export price increased by X%. The export price peaked at $X per ton in 2020, and then declined in the following year.

Prices varied noticeably by the country of destination: the country with the highest price was Canada ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+X%), while the prices for the other major destinations experienced mixed trend patterns.

Breakfast Cereal Imports

Imports into Venezuela

After two years of growth, supplies from abroad of breakfast cereals decreased by -X% to X tons in 2021. Overall, imports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of X%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, breakfast cereal imports shrank markedly to $X in 2021. In general, imports saw a abrupt setback. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of breakfast cereal to Venezuela, with a X% share of total imports. Moreover, breakfast cereal imports from the United States exceeded the figures recorded by the second-largest supplier, Colombia (X tons), sevenfold. The third position in this ranking was held by Brazil (X tons), with a X% share.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+X% per year) and Brazil (+X% per year).

In value terms, the United States ($X) constituted the largest supplier of breakfast cereal to Venezuela, comprising X% of total imports. The second position in the ranking was taken by Colombia ($X), with a X% share of total imports. It was followed by Brazil, with a X% share.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (-X% per year) and Brazil (+X% per year).

Import Prices by Country

In 2021, the average breakfast cereal import price amounted to $X per ton, reducing by -X% against the previous year. Over the period under review, the import price saw a pronounced decline. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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