Venezuela: Market for Buttermilk And Buttermilk Powder 2024

Market Size for Buttermilk And Buttermilk Powder in Venezuela

The Venezuelan buttermilk and buttermilk powder market dropped slightly to $X in 2022, standing approx. at the previous year. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Buttermilk And Buttermilk Powder in Venezuela

In value terms, buttermilk and buttermilk powder production declined to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 30%. Buttermilk and buttermilk powder production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Buttermilk And Buttermilk Powder

Exports from Venezuela

In 2022, shipments abroad of buttermilk and buttermilk powder was finally on the rise to reach X kg after six years of decline. Over the period under review, exports showed a tangible increase. The pace of growth appeared the most rapid in 2015 with an increase of 85% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, buttermilk and buttermilk powder exports amounted to $X in 2022. In general, exports recorded buoyant growth. The growth pace was the most rapid in 2014 when exports increased by 102% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Aruba (X kg) was the main destination for buttermilk and buttermilk powder exports from Venezuela, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Aruba totaled +2.2%.

In value terms, Aruba ($X) also remains the key foreign market for buttermilk and buttermilk powder exports from Venezuela.

From 2012 to 2022, the average annual rate of growth in terms of value to Aruba totaled +8.7%.

Export Prices by Country

In 2022, the average buttermilk and buttermilk powder export price amounted to $X per ton, falling by -2.3% against the previous year. Over the period under review, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, buttermilk and buttermilk powder export price increased by +45.0% against 2014 indices. The pace of growth was the most pronounced in 2018 when the average export price increased by 26% against the previous year. The export price peaked at $X per ton in 2021, and then declined slightly in the following year.

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

From 2012 to 2022, the rate of growth in terms of prices for Aruba amounted to +6.3% per year.

Imports of Buttermilk And Buttermilk Powder

Imports into Venezuela

In 2022, the amount of buttermilk and buttermilk powder imported into Venezuela shrank sharply to X tons, falling by -17.7% on the previous year. Over the period under review, imports saw a sharp reduction. The most prominent rate of growth was recorded in 2021 when imports increased by 54%. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, buttermilk and buttermilk powder imports fell rapidly to $X in 2022. Overall, imports continue to indicate a precipitous contraction. The most prominent rate of growth was recorded in 2021 with an increase of 69%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Uruguay (X tons) constituted the largest buttermilk and buttermilk powder supplier to Venezuela, with a 69% share of total imports. Moreover, buttermilk and buttermilk powder imports from Uruguay exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), fourfold. The third position in this ranking was taken by France (X tons), with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Uruguay stood at -23.9%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (-28.8% per year) and France (-18.6% per year).

In value terms, Uruguay ($X) constituted the largest supplier of buttermilk and buttermilk powder to Venezuela, comprising 52% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 25% share of total imports. It was followed by France, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Uruguay stood at -34.5%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (-33.5% per year) and France (-19.8% per year).

Import Prices by Country

In 2022, the average buttermilk and buttermilk powder import price amounted to $X per ton, waning by -3.2% against the previous year. In general, the import price recorded a abrupt curtailment. The pace of growth was the most pronounced in 2015 an increase of 18%. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices remained 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 Brazil ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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