Price for Cereals; Grain Sorghum, Seed in Venezuela - 2022
Contents:
- Price for Cereals; Grain Sorghum, Seed in Venezuela (CIF) - 2022
- Imports of Cereals; Grain Sorghum, Seed in Venezuela
Price for Cereals; Grain Sorghum, Seed in Venezuela (CIF) - 2022
The average cereals; grain sorghum, seed import price stood at $1,392 per ton in 2022, reducing by -56.3% against the previous year. Over the period under review, the import price showed a deep contraction. The growth pace was the most rapid in 2021 an increase of 100% against the previous year. As a result, import price attained the peak level of $3,182 per ton, and then shrank significantly in the following year.
As there is only one major supplying country, the average price level is determined by prices for Brazil.
From 2012 to 2022, the rate of growth in terms of prices for Argentina amounted to +2.6% per year.
Imports of Cereals; Grain Sorghum, Seed in Venezuela
For the fourth consecutive year, Venezuela recorded growth in supplies from abroad of cereals; grain sorghum, seeds, which increased by 2.2% to 86 tons in 2022. Overall, imports continue to indicate a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 181%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.
In value terms, cereals; grain sorghum, seed imports declined significantly to $120K in 2022. Over the period under review, imports enjoyed significant growth. The growth pace was the most rapid in 2021 when imports increased by 464% against the previous year. As a result, imports reached the peak of $269K, and then dropped notably in the following year.
| Import of Cereals; Grain Sorghum, Seed in Venezuela (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Brazil | 42.6 | 47.7 | 48.5 | 120 | 41.2% |
| Colombia | N/A | N/A | 220 | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 42.6 | 47.7 | 269 | 120 | 41.2% |
Top Suppliers of Cereals; Grain Sorghum, Seed to Venezuela in 2022:
- Brazil (86.3 tons)
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This report provides an in-depth analysis of the sorghum market in Venezuela.
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In 2021, global sorghum production will grow by 5%, boosted by growing supplies to China. Sorghum imports to the country are expected to rise by 28% compared to the previous year, driven by the increasing demand for animal feed. Prices will continue to rise in line with other cereals, following accelerated food inflation. The advantage of sorghum as a more drought-tolerant crop will allow this product to compete seriously with corn and will further stimulate market expansion.
