Brown Rice Price in Venezuela - 2022

Brown Rice Price in Venezuela (CIF) - 2022

The average brown rice import price stood at $516 per ton in 2022, declining by -1.8% against the previous year. In general, the import price showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2019 an increase of 34%. Over the period under review, average import prices attained the maximum at $908 per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

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 the United States ($1,108 per ton), while the price for Myanmar ($371 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Suriname (+8.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Brown Rice Price in Venezuela (FOB) - 2022

The average brown rice export price stood at $1,688 per ton in 2022, surging by 55% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 98%. Over the period under review, the average export prices attained the maximum at $1,759 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($2,289 per ton), while the average price for exports to Aruba totaled $678 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+75.5%).

Brown Rice Imports in Venezuela

For the fourth consecutive year, Venezuela recorded growth in overseas purchases of husked (brown) rice, which increased by 0.1% to 2.1K tons in 2022. Overall, imports enjoyed a significant increase. The growth pace was the most rapid in 2020 with an increase of 157%. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, brown rice imports fell to $1.1M in 2022. Over the period under review, total imports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +21.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -3.4% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of 87% against the previous year. As a result, imports attained the peak of $1.1M; afterwards, it flattened through to 2022.

Import of Brown Rice in Venezuela (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Guyana	483	807	984	976	26.4%
Panama	17.4	96.4	35.5	35.2	26.5%
Myanmar	14.1	78.3	28.9	28.6	26.6%
United States	63.3	75.2	41.2	21.2	-30.6%
Others	24.4	67.5	14.8	24.6	0.3%
Total	602	1,124	1,105	1,086	21.7%

Top Suppliers of Brown Rice to Venezuela in 2022:

Guyana (1947.6 tons)
Myanmar (77.1 tons)
Panama (39.7 tons)
United States (19.1 tons)

Brown Rice Exports in Venezuela

In 2022, overseas shipments of husked (brown) rice decreased by -10.9% to 12 tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, saw a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 523%.

In value terms, brown rice exports soared to $19K in 2022. Overall, exports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 1,132% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the near future.