Venezuela: Durum Wheat Market 2025

Durum Wheat Market Size in Venezuela

The Venezuelan durum wheat market shrank rapidly to $X in 2022, dropping by -69.6% against the previous year. In general, consumption faced a dramatic shrinkage. Durum wheat consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Durum Wheat Production in Venezuela

In value terms, durum wheat production fell to $X in 2022 estimated in export price. In general, production showed buoyant growth. The pace of growth appeared the most rapid in 2017 when the production volume increased by 319%. Durum wheat production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

The average yield of durum wheat in Venezuela soared to X tons per ha in 2022, rising by 83% on the previous year. In general, the yield showed a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 338%. Over the period under review, the average durum wheat yield reached the maximum level at X tons per ha in 2019; however, from 2020 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of durum wheat production in Venezuela contracted markedly to X ha, dropping by -39.9% compared with 2021. Overall, the harvested area, however, showed a moderate increase. The pace of growth was the most pronounced in 2021 with an increase of 395% against the previous year. As a result, the harvested area attained the peak level of X ha, and then fell sharply in the following year.

Durum Wheat Exports

Exports from Venezuela

In 2016, shipments abroad of durum wheat decreased by 0% to X tons for the first time since 2013, thus ending a two-year declining trend. Over the period under review, exports enjoyed a significant increase. The smallest decline of 99.9% was in 2014. Over the period under review, the exports reached the peak figure in 2016 and are likely to see steady growth in years to come.

In value terms, durum wheat exports stood at $X in 2016. Overall, exports posted significant growth. The smallest decline of 99.9% was in 2014. Over the period under review, the exports hit record highs in 2016 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons) was the main destination for durum wheat exports from Venezuela, accounting for a approx. 100% share of total exports.

From 2013 to 2016, the average annual rate of growth in terms of volume to the United States was relatively modest.

From 2013 to 2016, the average annual growth rate of value to the United States was relatively modest.

Export Prices by Country

In 2016, the average durum wheat export price amounted to $X per ton, approximately mirroring the previous year. Over the period under review, the export price faced a drastic downturn. The pace of growth was the most pronounced in 2014 a decrease of 99.9% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2016, the export prices remained at a lower figure.

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

From 2013 to 2016, the rate of growth in terms of prices for the United States amounted to 0.0% per year.

Durum Wheat Imports

Imports into Venezuela

In 2022, purchases abroad of durum wheat decreased by -70.7% to X tons, falling for the fourth consecutive year after two years of growth. Over the period under review, imports faced a dramatic downturn. The most prominent rate of growth was recorded in 2017 with an increase of 56%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, durum wheat imports reduced remarkably to $X in 2022. In general, imports faced a significant decline. The growth pace was the most rapid in 2017 with an increase of 45% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Mexico (X tons) constituted the largest supplier of durum wheat to Venezuela, with a 88% share of total imports. Moreover, durum wheat imports from Mexico exceeded the figures recorded by the second-largest supplier, Canada (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Mexico amounted to -2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-43.0% per year) and the United States (-42.1% per year).

In value terms, Mexico ($X) constituted the largest supplier of durum wheat to Venezuela, comprising 81% of total imports. The second position in the ranking was held by Canada ($X), with a 15% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Mexico was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-36.8% per year) and the United States (-40.4% per year).

Import Prices by Country

In 2022, the average durum wheat import price amounted to $X per ton, picking up by 3.5% against the previous year. Over the period under review, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, durum wheat import price increased by +78.0% against 2017 indices. The most prominent rate of growth was recorded in 2021 an increase of 43% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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 Canada ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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