Venezuela: Unmanufactured Tobacco Market 2024

Unmanufactured Tobacco Market Size in Venezuela

In 2022, the Venezuelan unmanufactured tobacco market increased by 19% to $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption, however, saw a noticeable descent. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Unmanufactured Tobacco Production in Venezuela

In value terms, unmanufactured tobacco production shrank to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the production volume increased by 80%. Unmanufactured tobacco production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

The average yield of tobacco (unmanufactured) in Venezuela amounted to X tons per ha in 2022, almost unchanged from 2021 figures. In general, the yield, however, saw a mild slump. The pace of growth was the most pronounced in 2019 with an increase of 45%. As a result, the yield reached the peak level of X tons per ha. From 2020 to 2022, the growth of the average unmanufactured tobacco 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 2022, approx. X ha of tobacco (unmanufactured) were harvested in Venezuela; picking up by 3.9% against the previous year's figure. Overall, the harvested area, however, recorded a mild decrease. The growth pace was the most rapid in 2017 with an increase of 72%. Over the period under review, the harvested area dedicated to unmanufactured tobacco production reached the peak figure at X ha in 2014; however, from 2015 to 2022, the harvested area failed to regain momentum.

Unmanufactured Tobacco Exports

Exports from Venezuela

In 2022, after two years of growth, there was significant decline in shipments abroad of tobacco (unmanufactured), when their volume decreased by -24.7% to X tons. Overall, exports showed a abrupt slump. The pace of growth appeared the most rapid in 2021 with an increase of 60% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, unmanufactured tobacco exports declined remarkably to $X in 2022. Over the period under review, exports recorded a deep setback. The most prominent rate of growth was recorded in 2021 when exports increased by 74% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons) was the main destination for unmanufactured tobacco exports from Venezuela, accounting for a 80% share of total exports. Moreover, unmanufactured tobacco exports to Germany exceeded the volume sent to the second major destination, Poland (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany totaled -6.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (-22.7% per year) and Turkey (-3.2% per year).

In value terms, Germany ($X) remains the key foreign market for tobacco (unmanufactured) exports from Venezuela, comprising 79% of total exports. The second position in the ranking was taken by Poland ($X), with an 8.7% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany stood at -6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (-26.5% per year) and Turkey (-12.5% per year).

Export Prices by Country

In 2022, the average unmanufactured tobacco export price amounted to $X per ton, with an increase of 2.5% against the previous year. Over the period under review, the export price, however, showed a noticeable contraction. The pace of growth was the most pronounced in 2021 when the average export price increased by 8.9%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+0.6%), while the prices for the other major destinations experienced a decline.

Unmanufactured Tobacco Imports

Imports into Venezuela

In 2022, overseas purchases of tobacco (unmanufactured) were finally on the rise to reach X tons after two years of decline. In general, imports posted a strong expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 94% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, unmanufactured tobacco imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 44% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Brazil (X tons) constituted the largest unmanufactured tobacco supplier to Venezuela, with a 78% share of total imports. Moreover, unmanufactured tobacco imports from Brazil exceeded the figures recorded by the second-largest supplier, Portugal (X tons), sixfold. The third position in this ranking was taken by Colombia (X tons), with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil stood at +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (+16.0% per year) and Colombia (-9.3% per year).

In value terms, Brazil ($X) constituted the largest supplier of tobacco (unmanufactured) to Venezuela, comprising 84% of total imports. The second position in the ranking was taken by Portugal ($X), with a 4.8% share of total imports. It was followed by Colombia, with a 4.6% share.

From 2012 to 2022, the average annual growth rate of value from Brazil amounted to -3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (+4.3% per year) and Colombia (-17.5% per year).

Import Prices by Country

In 2022, the average unmanufactured tobacco import price amounted to $X per ton, picking up by 12% against the previous year. Overall, the import price, however, faced a drastic downturn. The pace of growth appeared the most rapid in 2014 when the average import price increased by 23%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (-9.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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