Venezuela: Market for Seeds, Fruit and Spores Used for Sowing 2024

Market Size for Seeds, Fruit and Spores Used for Sowing in Venezuela

The Venezuelan market for seeds, fruit and spores used for sowing expanded sharply to $X in 2022, with an increase of 5.6% against the previous year. In general, consumption enjoyed strong growth. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Seeds, Fruit and Spores Used for Sowing in Venezuela

In value terms, production of seeds, fruit and spores used for sowing expanded rapidly to $X in 2022 estimated in export price. Over the period under review, production enjoyed a remarkable increase. The growth pace was the most rapid in 2013 with an increase of 602% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production of growth failed to regain momentum.

In 2022, the average yield of seeds, fruit and spores used for sowing in Venezuela totaled less than X kg per ha, approximately equating 2021. In general, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of seeds, fruit and spores used for sowing in Venezuela was estimated at less than X ha, remaining relatively unchanged against the previous year's figure. Overall, the harvested area recorded a relatively flat trend pattern.

Exports of Seeds, Fruit and Spores Used for Sowing

Exports from Venezuela

In 2022, shipments abroad of seeds, fruit and spores used for sowing decreased by -4.8% to X kg for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, enjoyed strong growth. The pace of growth was the most pronounced in 2016 when exports increased by 837% against the previous year. The exports peaked at X kg in 2021, and then reduced modestly in the following year.

In value terms, exports of seeds, fruit and spores used for sowing dropped to $X in 2022. Overall, exports, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2019 when exports increased by 2,251%. 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 exports of seeds, fruit and spores used for sowing from Venezuela, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Aruba amounted to +10.2%.

In value terms, Aruba ($X) also remains the key foreign market for seeds, fruit and spores used for sowing exports from Venezuela.

From 2012 to 2022, the average annual growth rate of value to Aruba amounted to +9.4%.

Export Prices by Country

In 2022, the average export price for seeds, fruit and spores used for sowing amounted to $X per ton, with a decrease of -3.7% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 1,404% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a lower figure.

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 -0.7% per year.

Imports of Seeds, Fruit and Spores Used for Sowing

Imports into Venezuela

In 2022, approx. X tons of seeds, fruit and spores used for sowing were imported into Venezuela; jumping by 125% against the previous year. Overall, imports, however, showed a dramatic downturn. The pace of growth was the most pronounced in 2020 with an increase of 525% against the previous year. Over the period under review, imports of hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, imports of seeds, fruit and spores used for sowing soared to $X in 2022. Over the period under review, imports, however, saw a dramatic slump. The growth pace was the most rapid in 2020 with an increase of 427%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), the United States (X tons) and Cuba (X kg) were the main suppliers of imports of seeds, fruit and spores used for sowing to Venezuela, with a combined 68% share of total imports. Italy, France, Spain, Mexico, Panama, Colombia and Thailand lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +25.9%), while imports for the other leaders experienced a decline.

In value terms, Cuba ($X) constituted the largest supplier of seeds, fruit and spores used for sowing to Venezuela, comprising 51% of total imports. The second position in the ranking was held by China ($X), with a 24% share of total imports. It was followed by Mexico, with a 16% share.

From 2012 to 2022, the average annual growth rate of value from Cuba amounted to -28.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-28.8% per year) and Mexico (-19.4% per year).

Import Prices by Country

In 2022, the average import price for seeds, fruit and spores used for sowing amounted to $X per ton, which is down by -17.5% against the previous year. Overall, the import price, however, saw a strong increase. The pace of growth was the most pronounced in 2017 when the average import price increased by 324% against the previous year. The import price peaked at $X per ton in 2021, and then declined markedly in the following year.

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 Cuba ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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