Venezuela: Yoghurt Market 2024

Yoghurt Market Size in Venezuela

The Venezuelan yoghurt market amounted to $X in 2022, almost unchanged from the previous year. Over the period under review, the total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.4% against 2020 indices. Yoghurt consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Yoghurt Production in Venezuela

In value terms, yoghurt production rose modestly to $X in 2022 estimated in export price. Overall, the total production indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.0% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 24%. Yoghurt production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Yoghurt Exports

Exports from Venezuela

In 2022, after seven years of decline, there was growth in overseas shipments of yoghurt, when their volume increased by 0.7% to X tons. Over the period under review, total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +10.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -8.9% against 2014 indices. The pace of growth appeared the most rapid in 2014 with an increase of 101% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, yoghurt exports reduced to $X in 2022. Overall, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of 51%. Over the period under review, the exports hit record highs at $X in 2021, and then fell in the following year.

Exports by Country

Aruba (X tons) was the main destination for yoghurt exports from Venezuela, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Aruba totaled +10.0%.

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

From 2012 to 2022, the average annual rate of growth in terms of value to Aruba stood at +19.7%.

Export Prices by Country

In 2022, the average yoghurt export price amounted to $X per ton, reducing by -8.9% against the previous year. In general, the export price, however, showed a resilient expansion. The pace of growth was the most pronounced in 2021 when the average export price increased by 21%. As a result, the export price attained the peak level of $X per ton, and then contracted 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 +8.8% per year.

Yoghurt Imports

Imports into Venezuela

In 2022, after three years of growth, there was significant decline in overseas purchases of yoghurt, when their volume decreased by -34.9% to X tons. Overall, imports, however, posted significant growth. The growth pace was the most rapid in 2019 with an increase of 759% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then shrank dramatically in the following year.

In value terms, yoghurt imports contracted dramatically to $X in 2022. Over the period under review, imports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2019 when imports increased by 620%. Over the period under review, imports attained the maximum at $X in 2021, and then dropped dramatically in the following year.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of yoghurt to Venezuela, accounting for a 41% share of total imports. Moreover, yoghurt imports from Spain exceeded the figures recorded by the second-largest supplier, Colombia (X tons), sixfold. The United States (X tons) ranked third in terms of total imports with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain totaled +150.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+90.5% per year) and the United States (+10.1% per year).

In value terms, Spain ($X) constituted the largest supplier of yoghurt to Venezuela, comprising 38% of total imports. The second position in the ranking was taken by the United States ($X), with a 6.9% share of total imports. It was followed by Colombia, with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain amounted to +127.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+21.8% per year) and Colombia (+72.0% per year).

Import Prices by Country

In 2022, the average yoghurt import price amounted to $X per ton, growing by 1.7% against the previous year. Overall, the import price, however, saw a deep reduction. The pace of growth appeared the most rapid in 2017 when the average import price increased by 47%. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Colombia ($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 United States (+10.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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