Venezuela: Market for Nuts (Prepared Or Preserved) 2024

Market Size for Nuts (Prepared Or Preserved) in Venezuela

In 2021, the Venezuelan nuts (prepared or preserved) market decreased by -8.3% to $X for the first time since 2018, thus ending a two-year rising trend. The market value increased at an average annual rate of +2.2% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Production of Nuts (Prepared Or Preserved) in Venezuela

In value terms, nuts (prepared or preserved) production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.9% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when the production volume increased by 21%. As a result, production reached the peak level of $X, and then declined in the following year.

Exports of Nuts (Prepared Or Preserved)

Exports from Venezuela

In 2021, overseas shipments of nuts (prepared or preserved) decreased by -14.2% to X kg, falling for the second year in a row after five years of decline. Over the period under review, exports saw a sharp descent. The most prominent rate of growth was recorded in 2014 when exports increased by 42%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, nuts (prepared or preserved) exports expanded sharply to $X in 2021. Overall, exports saw a sharp slump. The most prominent rate of growth was recorded in 2014 when exports increased by 55%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Armenia (X kg) was the main destination for nuts (prepared or preserved) exports from Venezuela, accounting for a 97% share of total exports. It was followed by the United Arab Emirates (X kg), with a 1.9% share of total exports.

From 2013 to 2021, the average annual rate of growth in terms of volume to Armenia was relatively modest.

From 2013 to 2021, the average annual rate of growth in terms of value to Armenia was relatively modest.

Export Prices by Country

In 2021, the average nuts (prepared or preserved) export price amounted to $X per ton, rising by 24% against the previous year. In general, the export price showed a mild expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Armenia stood at $X per ton.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+16.8%).

Imports of Nuts (Prepared Or Preserved)

Imports into Venezuela

In 2021, nuts (prepared or preserved) imports into Venezuela surged to X tons, picking up by 22% on the previous year. Overall, imports, however, saw a dramatic shrinkage. The growth pace was the most rapid in 2019 with an increase of 280% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, nuts (prepared or preserved) imports expanded rapidly to $X in 2021. In general, imports, however, recorded a dramatic decrease. The growth pace was the most rapid in 2019 when imports increased by 291%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Lebanon (X tons) constituted the largest nuts (prepared or preserved) supplier to Venezuela, accounting for a 43% share of total imports. Moreover, nuts (prepared or preserved) imports from Lebanon exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. Hong Kong SAR (X tons) ranked third in terms of total imports with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Lebanon stood at +21.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-10.6% per year) and Hong Kong SAR (-6.1% per year).

In value terms, Hong Kong SAR ($X) constituted the largest supplier of nuts (prepared or preserved) to Venezuela, comprising 49% of total imports. The second position in the ranking was taken by Lebanon ($X), with a 13% share of total imports. It was followed by the United States, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Hong Kong SAR totaled +5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Lebanon (+9.1% per year) and the United States (-16.4% per year).

Import Prices by Country

The average nuts (prepared or preserved) import price stood at $X per ton in 2021, dropping by -11.6% against the previous year. Over the period under review, the import price recorded a noticeable decline. The most prominent rate of growth was recorded in 2015 when the average import price increased by 47%. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Hong Kong SAR ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+11.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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