Venezuela: Dry Bean Market 2025

Dry Bean Market Size in Venezuela

In 2022, the Venezuelan dry bean market increased by 9.2% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, showed a deep slump. Dry bean consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Dry Bean Production in Venezuela

In value terms, dry bean production rose to $X in 2022 estimated in export price. In general, production, however, saw a prominent expansion. The growth pace was the most rapid in 2019 with an increase of 234%. Dry bean production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of beans (dry) in Venezuela dropped slightly to X kg per ha, which is down by -3.4% compared with the previous year. The yield figure increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the yield increased by 27% against the previous year. As a result, the yield reached the peak level of X kg per ha. From 2014 to 2022, the growth of the average dry bean 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.

In 2022, the dry bean harvested area in Venezuela dropped to X ha, shrinking by -2.1% against 2021. Over the period under review, the harvested area, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of 185% against the previous year. Over the period under review, the harvested area dedicated to dry bean production reached the maximum at X ha in 2021, and then shrank in the following year.

Dry Bean Exports

Exports from Venezuela

In 2022, overseas shipments of beans (dry) decreased by -40.6% to X tons, falling for the second year in a row after six years of growth. Overall, exports, however, posted a significant expansion. The pace of growth was the most pronounced in 2019 with an increase of 736% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, dry bean exports contracted remarkably to $X in 2022. Over the period under review, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 817%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons) was the main destination for dry bean exports from Venezuela, accounting for a 25% share of total exports. Moreover, dry bean exports to the United Arab Emirates exceeded the volume sent to the second major destination, Turkey (X tons), twofold. The third position in this ranking was held by Thailand (X tons), with an 8.7% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates amounted to +122.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+37.6% per year) and Thailand (+113.7% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for beans (dry) exports from Venezuela, comprising 25% of total exports. The second position in the ranking was taken by Turkey ($X), with an 11% share of total exports. It was followed by Thailand, with an 8.6% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates totaled +129.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+33.7% per year) and Thailand (+125.2% per year).

Export Prices by Country

In 2022, the average dry bean export price amounted to $X per ton, falling by -2.9% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 9.7%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to Nepal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Dry Bean Imports

Imports into Venezuela

In 2022, the amount of beans (dry) imported into Venezuela reduced to X tons, with a decrease of -5.6% compared with the year before. Overall, imports faced a abrupt decline. The growth pace was the most rapid in 2017 when imports increased by 225%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, dry bean imports declined rapidly to $X in 2022. In general, imports faced a abrupt setback. The pace of growth appeared the most rapid in 2017 when imports increased by 192%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Argentina (X tons) constituted the largest supplier of dry bean to Venezuela, with a 49% share of total imports. Moreover, dry bean imports from Argentina exceeded the figures recorded by the second-largest supplier, Mexico (X tons), threefold. The third position in this ranking was taken by China (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Argentina totaled -5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+4.7% per year) and China (-28.2% per year).

In value terms, Argentina ($X), Mexico ($X) and China ($X) appeared to be the largest dry bean suppliers to Venezuela, with a combined 73% share of total imports. Brazil, Canada, Nicaragua and Ethiopia lagged somewhat behind, together comprising a further 24%.

In terms of the main suppliers, Ethiopia, with a CAGR of +60.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average dry bean import price stood at $X per ton in 2022, which is down by -13.3% against the previous year. Overall, the import price showed a noticeable descent. The most prominent rate of growth was recorded in 2021 when the average import price increased by 12% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Nicaragua ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nicaragua (+1.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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