Venezuela: Rice Market Overview 2021

Rice Market Size in Venezuela

In 2020, the Venezuelan rice market decreased by -X% to $X, falling for the second year in a row after two years of growth. In general, consumption showed pronounced growth. The pace of growth appeared the most rapid in 2018 when the market value increased by X% y-o-y. As a result, consumption attained the peak level of $X. from 2019 to 2020, the growth of the market remained at a lower figure.

Rice Production in Venezuela

In value terms, rice production shrank significantly to $X in 2020 estimated in export prices. Over the period under review, production showed a noticeable expansion. The pace of growth appeared the most rapid in 2017 with an increase of X% y-o-y. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2020, production stood at a somewhat lower figure.

The average yield of rice in Venezuela reduced slightly to X tonnes per ha in 2020, standing approx. at 2019. In general, the yield recorded a slight contraction. The growth pace was the most rapid in 2018 when the yield increased by X% against the previous year. The rice yield peaked at X tonnes per ha in 2011; however, from 2012 to 2020, 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.

The rice harvested area in Venezuela reduced modestly to X ha in 2020, approximately mirroring the previous year. In general, the harvested area showed a mild shrinkage. The growth pace was the most rapid in 2017 with an increase of X% year-to-year. The rice harvested area peaked at X ha in 2009; however, from 2010 to 2020, the harvested area stood at a somewhat lower figure.

Rice Exports

Exports from Venezuela

In 2020, shipments abroad of rice increased by X% to X tonnes, rising for the third consecutive year after three years of decline. Over the period under review, exports, however, continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2018 with an increase of X% year-to-year. Exports peaked at X tonnes in 2014; however, from 2015 to 2020, exports stood at a somewhat lower figure.

In value terms, rice exports reduced to $X in 2020. In general, exports, however, faced a deep setback. The pace of growth appeared the most rapid in 2017 with an increase of X% y-o-y. Exports peaked at $X in 2014; however, from 2015 to 2020, exports stood at a somewhat lower figure.

Exports by Country

Sri Lanka (X tonnes) was the main destination for rice exports from Venezuela, with a approx. X% share of total exports.

From 2007 to 2020, the average annual rate of growth in terms of volume to Sri Lanka amounted to +X%.

From 2007 to 2020, the average annual rate of growth in terms of value to Sri Lanka totaled +X%.

Export Prices by Country

In 2020, the average rice export price amounted to $X per tonne, reducing by -X% against the previous year. Overall, the export price, however, posted strong growth. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. As a result, export price reached the peak level of $X per tonne. from 2018 to 2020, the growth in terms of the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Sri Lanka.

From 2007 to 2020, the rate of growth in terms of prices for Sri Lanka amounted to +X% per year.

Rice Imports

Imports into Venezuela

In 2020, supplies from abroad of rice decreased by -X% to X tonnes for the first time since 2017, thus ending a two-year rising trend. Overall, imports, however, showed noticeable growth. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Imports peaked at X tonnes in 2019, and then contracted rapidly in the following year.

In value terms, rice imports dropped to $X in 2020. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of X% year-to-year. As a result, imports reached the peak of $X. from 2019 to 2020, the growth imports failed to regain the momentum.

Imports by Country

Brazil (X tonnes), Guyana (X tonnes) and the U.S. (X tonnes) were the main suppliers of rice imports to Venezuela, with a combined X% share of total imports. These countries were followed by India, which accounted for a further X 2007 to 2020, the biggest increases were in India (+X% per year), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest rice suppliers to Venezuela were Brazil ($X), Guyana ($X) and the U.S. ($X), together accounting for X% of total imports. India lagged somewhat behind, comprising a further X terms of the main suppliers, India (+X% per year) saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2020, the average rice import price amounted to $X per tonne, with an increase of X% against the previous year. In general, the import price, however, saw a noticeable slump. The growth pace was the most rapid in 2017 when the average import price increased by X% year-to-year. The import price peaked at $X per tonne in 2013; however, from 2014 to 2020, import prices failed to regain the momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was India ($X per tonne), while the price for the U.S. ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Guyana, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for rice in the world?

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The countries with the highest volumes of rice consumption in 2020 were China (212M tonnes), India (166M tonnes) and Bangladesh (57M tonnes), with a combined 57% share of global consumption.

What are the largest producers of rice in the world?

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The countries with the highest volumes of rice production in 2020 were China (212M tonnes), India (181M tonnes) and Bangladesh (56M tonnes), with a combined 58% share of global production.

What are the leading suppliers of rice to Venezuela?

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In value terms, the largest rice suppliers to Venezuela were Brazil ($104M), Guyana ($94M) and the U.S. ($31M), together accounting for 93% of total imports. These countries were followed by India, which accounted for a further 6.5%.

What is the average export price for rice in Venezuela?

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The average rice export price stood at $1,317 per tonne in 2020, reducing by -18.1% against the previous year.

What is the average import price for rice in Venezuela?

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In 2020, the average rice import price amounted to $403 per tonne, growing by 10% against the previous year.