Venezuela: Wheat Market 2025

Wheat Market Size in Venezuela

In 2022, the Venezuelan wheat market decreased by -17.8% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption faced a abrupt contraction. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Wheat Production in Venezuela

In value terms, wheat production reduced to $X in 2022 estimated in export price. Overall, production posted a significant increase. The pace of growth was the most pronounced in 2017 with an increase of 342% against the previous year. Wheat production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

The average yield of wheat in Venezuela skyrocketed to X tons per ha in 2022, rising by 83% on the previous year's figure. Overall, the yield showed a strong increase. The growth pace was the most rapid in 2017 when the yield increased by 338%. The wheat yield peaked at X tons per ha in 2019; however, from 2020 to 2022, 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 2022, approx. X ha of wheat were harvested in Venezuela; shrinking by -39.9% against the year before. Overall, the harvested area, however, saw a noticeable expansion. The most prominent rate of growth was recorded in 2021 with an increase of 395% against the previous year. As a result, the harvested area attained the peak level of X ha, and then fell dramatically in the following year.

Wheat Exports

Exports from Venezuela

In 2022, overseas shipments of wheat were finally on the rise to reach X tons after five years of decline. In general, exports, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2016 with an increase of 910% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, wheat exports amounted to $X in 2022. Over the period under review, exports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2016 with an increase of 890%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Aruba (X tons) was the main destination for wheat exports 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 -8.0%.

In value terms, Aruba ($X) also remains the key foreign market for wheat exports from Venezuela.

From 2012 to 2022, the average annual growth rate of value to Aruba amounted to +6.1%.

Export Prices by Country

The average wheat export price stood at $X per ton in 2022, waning by -2.9% against the previous year. In general, the export price, however, continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2015 when the average export price increased by 52% against the previous year. The export price peaked at $X per ton in 2021, and then declined modestly in the following year.

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 +15.4% per year.

Wheat Imports

Imports into Venezuela

In 2022, supplies from abroad of wheat decreased by -9% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports faced a deep contraction. The pace of growth appeared the most rapid in 2021 when imports increased by 22% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, wheat imports contracted notably to $X in 2022. In general, imports continue to indicate a abrupt downturn. The growth pace was the most rapid in 2021 when imports increased by 67% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States (X tons), Canada (X tons) and Mexico (X tons) were the main suppliers of wheat imports to Venezuela, with a combined 83% share of total imports. Argentina and Brazil lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +300.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wheat suppliers to Venezuela were Canada ($X), the United States ($X) and Mexico ($X), with a combined 80% share of total imports. Argentina and Brazil lagged somewhat behind, together comprising a further 20%.

Brazil, with a CAGR of +281.1%, recorded 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 2022, the average wheat import price amounted to $X per ton, which is down by -12.2% against the previous year. In general, the import price continues to indicate a mild shrinkage. The pace of growth was the most pronounced in 2021 an increase of 37%. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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