Venezuela: Carrot And Turnip Market 2024

Carrot And Turnip Market Size in Venezuela

The Venezuelan carrot and turnip market expanded modestly to $X in 2022, picking up by 2.5% against the previous year. Over the period under review, consumption saw a mild slump. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Carrot And Turnip Production in Venezuela

In value terms, carrot and turnip production expanded to $X in 2022 estimated in export price. In general, production continues to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2019 when the production volume increased by 27%. Carrot and turnip production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

In 2022, the average yield of carrots and turnips in Venezuela amounted to X tons per ha, approximately reflecting the year before. In general, the yield, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 11% against the previous year. The carrot and turnip yield peaked at X tons per ha in 2012; however, from 2013 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The carrot and turnip harvested area in Venezuela fell to X ha in 2022, with a decrease of -2.7% compared with 2021. The harvested area increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2019 with an increase of 32%. Over the period under review, the harvested area dedicated to carrot and turnip production reached the peak figure at X ha in 2015; however, from 2016 to 2022, the harvested area failed to regain momentum.

Carrot And Turnip Exports

Exports from Venezuela

In 2022, overseas shipments of carrots and turnips decreased by -26.6% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports recorded a noticeable contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 113%. As a result, the exports attained the peak of X tons, and then shrank sharply in the following year.

In value terms, carrot and turnip exports contracted markedly to $X in 2022. In general, exports recorded a perceptible setback. The pace of growth appeared the most rapid in 2021 with an increase of 184% against the previous year. As a result, the exports attained the peak of $X, and then reduced markedly in the following year.

Exports by Country

Bahrain (X tons) was the main destination for carrot and turnip exports from Venezuela, with a 77% share of total exports. Moreover, carrot and turnip exports to Bahrain exceeded the volume sent to the second major destination, Aruba (X kg), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bahrain amounted to -1.7%.

In value terms, Bahrain ($X) and Aruba ($X) appeared to be the largest markets for carrot and turnip exported from Venezuela worldwide.

In terms of the main countries of destination, Aruba, with a CAGR of -3.2%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2022, the average carrot and turnip export price amounted to $X per ton, waning by -7.9% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 33% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Aruba ($X per ton), while the average price for exports to Bahrain stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Aruba (+1.9%).

Carrot And Turnip Imports

Imports into Venezuela

In 2022, supplies from abroad of carrots and turnips decreased by -2.8% to X tons for the first time since 2011, thus ending a ten-year rising trend. Over the period under review, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +64.5% against 2012 indices. The growth pace was the most rapid in 2016 with an increase of 11% against the previous year. Imports peaked at X tons in 2021, and then declined slightly in the following year.

In value terms, carrot and turnip imports declined slightly to $X in 2022. Overall, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +89.4% against 2012 indices. The pace of growth appeared the most rapid in 2017 with an increase of 7.8% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, the Dominican Republic (X tons) constituted the largest carrot and turnip supplier to Venezuela, accounting for a 89% share of total imports. Moreover, carrot and turnip imports from the Dominican Republic exceeded the figures recorded by the second-largest supplier, Trinidad and Tobago (X tons), eightfold.

From 2012 to 2022, the average annual growth rate of volume from the Dominican Republic stood at +233.4%.

In value terms, the Dominican Republic ($X) constituted the largest supplier of carrots and turnips to Venezuela, comprising 80% of total imports. The second position in the ranking was taken by Trinidad and Tobago ($X), with a 20% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the Dominican Republic totaled +254.1%.

Import Prices by Country

The average carrot and turnip import price stood at $X per ton in 2022, remaining constant against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The pace of growth was the most pronounced in 2015 an increase of 5.8%. Over the period under review, average import prices reached the peak figure at $X per ton in 2021, and then dropped slightly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Trinidad and Tobago ($X per ton), while the price for the Dominican Republic amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Dominican Republic (+6.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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