Venezuela: Orange Market 2024

Orange Market Size in Venezuela

The Venezuelan orange market dropped modestly to $X in 2022, remaining stable against the previous year. Overall, consumption, however, recorded mild growth. Orange consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Orange Production in Venezuela

In value terms, orange production dropped slightly to $X in 2022 estimated in export price. In general, production, however, recorded a prominent increase. The pace of growth appeared the most rapid in 2014 with an increase of 233% against the previous year. Orange production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

The average yield of oranges in Venezuela declined modestly to X tons per ha in 2022, which is down by -2.5% against the previous year's figure. Overall, the yield showed a slight shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 47%. As a result, the yield reached the peak level of X tons per ha. From 2020 to 2022, the growth of the average orange 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 orange harvested area in Venezuela rose to X ha in 2022, surging by 2.3% compared with the previous year's figure. Overall, the harvested area, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the harvested area increased by 24% against the previous year. Over the period under review, the harvested area dedicated to orange production reached the peak figure at X ha in 2016; however, from 2017 to 2022, the harvested area remained at a lower figure.

Orange Exports

Exports from Venezuela

In 2022, shipments abroad of oranges increased by 46% to X tons for the first time since 2017, thus ending a four-year declining trend. Overall, exports, however, recorded a sharp decline. The most prominent rate of growth was recorded in 2017 with an increase of 987% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, orange exports surged to $X in 2022. Over the period under review, exports, however, saw a significant decline. The growth pace was the most rapid in 2017 with an increase of 641% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Colombia (X tons) was the main destination for orange exports from Venezuela, with a 94% share of total exports. Moreover, orange exports to Colombia exceeded the volume sent to the second major destination, Bahrain (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Colombia totaled -27.8%.

In value terms, Colombia ($X) remains the key foreign market for oranges exports from Venezuela, comprising 93% of total exports. The second position in the ranking was held by Bahrain ($X), with a 3.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Colombia stood at -22.1%.

Export Prices by Country

The average orange export price stood at $X per ton in 2022, declining by -1.8% against the previous year. Over the period under review, the export price, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2014 when the average export price increased by 70% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat 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 Colombia ($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 Colombia (+7.8%).

Orange Imports

Imports into Venezuela

In 2022, the amount of oranges imported into Venezuela dropped markedly to X tons, waning by -48% against 2021 figures. In general, imports continue to indicate a dramatic curtailment. The most prominent rate of growth was recorded in 2017 when imports increased by 2,853% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, orange imports declined sharply to $X in 2022. Over the period under review, imports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2017 when imports increased by 3,060% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Chile (X tons), the United States (X tons) and the Dominican Republic (X kg) were the main suppliers of orange imports to Venezuela.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of 0.0%), while purchases for the other leaders experienced a decline.

In value terms, the largest orange suppliers to Venezuela were the United States ($X), Chile ($X) and the Dominican Republic ($X).

In terms of the main suppliers, the United States, with a CAGR of 0.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average orange import price stood at $X per ton in 2022, stabilizing at the previous year. Overall, the import price showed resilient growth. The pace of growth appeared the most rapid in 2015 an increase of 58%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Dominican Republic (+7.6%).

Source: IndexBox Platform

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