Venezuela: Rice Market 2025

Rice Market Size in Venezuela

In 2021, the Venezuelan rice market decreased by -5.8% to $X for the first time since 2017, thus ending a three-year rising trend. In general, consumption, however, showed a perceptible reduction. Rice consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Rice Production in Venezuela

In value terms, rice production dropped rapidly to $X in 2021 estimated in export price. Overall, production, however, saw a abrupt setback. The pace of growth appeared the most rapid in 2020 with an increase of 44%. Rice production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

In 2021, the average yield of rice in Venezuela expanded modestly to X tons per ha, surging by 3.3% compared with 2020. Over the period under review, the yield, however, saw a slight downturn. The pace of growth appeared the most rapid in 2019 with an increase of 20% against the previous year. The rice yield peaked at X tons per ha in 2014; however, from 2015 to 2021, the 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.

In 2021, approx. X ha of rice were harvested in Venezuela; growing by 8.3% against the previous year's figure. Over the period under review, the harvested area, however, showed a slight decrease. The growth pace was the most rapid in 2017 when the harvested area increased by 34%. The rice harvested area peaked at X ha in 2014; however, from 2015 to 2021, the harvested area stood at a somewhat lower figure.

Rice Exports

Exports from Venezuela

In 2021, approx. X tons of rice were exported from Venezuela; with a decrease of -4.3% compared with the year before. Overall, exports continue to indicate a significant curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by 221% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, rice exports surged to $X in 2021. In general, exports showed a precipitous descent. The pace of growth was the most pronounced in 2016 with an increase of 218%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for rice exports from Venezuela, accounting for a 57% share of total exports. Moreover, rice exports to the United States exceeded the volume sent to the second major destination, Aruba (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at -13.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Aruba (-42.6% per year) and Luxembourg (+2,606.5% per year).

In value terms, the United States ($X) emerged as the key foreign market for rice exports from Venezuela, comprising 62% of total exports. The second position in the ranking was taken by Luxembourg ($X), with a 26% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Luxembourg (+1,491.4% per year) and Aruba (-46.3% per year).

Export Prices by Country

The average rice export price stood at $X per ton in 2021, with an increase of 48% against the previous year. In general, export price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, rice export price increased by +87.9% against 2017 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Luxembourg ($X per ton), while the average price for exports to Aruba ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+15.5%), while the prices for the other major destinations experienced a decline.

Rice Imports

Imports into Venezuela

In 2021, purchases abroad of rice was finally on the rise to reach X tons after two years of decline. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 95%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, rice imports stood at $X in 2021. Overall, imports, however, recorded a slight downturn. The growth pace was the most rapid in 2018 with an increase of 65%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

The United States (X tons), Guyana (X tons) and Brazil (X tons) were the main suppliers of rice imports to Venezuela, together accounting for 74% of total imports. These countries were followed by Argentina and Uruguay, which together accounted for a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Argentina (with a CAGR of +23.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest rice suppliers to Venezuela were Guyana ($X), the United States ($X) and Brazil ($X), with a combined 81% share of total imports.

The United States, with a CAGR of +18.1%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average rice import price amounted to $X per ton, approximately equating the previous year. Over the period under review, the import price, however, saw a mild decline. The pace of growth appeared the most rapid in 2019 when the average import price increased by 15% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Guyana ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+1.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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