Venezuela: Rice Market 2024

Rice Market Size in Venezuela

In 2022, the Venezuelan rice market decreased by X% to $X, falling for the second consecutive year after three years of growth. Overall, consumption saw a perceptible downturn. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Rice Production in Venezuela

In value terms, rice production rose sharply to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

In 2022, the average rice yield in Venezuela dropped modestly to X tons per ha, with a decrease of X% on the previous year's figure. In general, the yield continues to indicate a mild curtailment. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. The rice yield peaked at X tons per ha in 2014; however, from 2015 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, the harvested area of rice in Venezuela shrank slightly to X ha, with a decrease of X% compared with 2021. Overall, the harvested area continues to indicate a slight decline. The most prominent rate of growth was recorded in 2017 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to rice production attained the peak figure at X ha in 2014; however, from 2015 to 2022, the harvested area remained at a lower figure.

Rice Exports

Exports from Venezuela

In 2022, shipments abroad of rice decreased by X% to X tons, falling for the fifth consecutive year after two years of growth. In general, exports continue to indicate a dramatic curtailment. The pace of growth appeared the most rapid in 2016 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, rice exports contracted significantly to $X in 2022. Overall, exports saw a dramatic decrease. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Bahrain (X tons), the United States (X tons) and Aruba (X tons) were the main destinations of rice exports from Venezuela, together accounting for X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bahrain (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) remains the key foreign market for rice exports from Venezuela, comprising X% of total exports. The second position in the ranking was held by Bahrain ($X), with a X% share of total exports. It was followed by Aruba, with an X% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (X% per year) and Aruba (X% per year).

Export Prices by Country

In 2022, the average rice export price amounted to $X per ton, picking up by X% against the previous year. In general, the export price showed a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Austria (X%), while the prices for the other major destinations experienced more modest paces of growth.

Rice Imports

Imports into Venezuela

Rice imports into Venezuela shrank to X tons in 2022, declining by X% compared with the previous year. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, rice imports reduced to $X in 2022. Overall, imports showed a mild setback. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Guyana (X tons), Brazil (X tons) and the United States (X tons) were the main suppliers of rice imports to Venezuela, with a combined X% share of total imports. Uruguay, Argentina and India lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest rice suppliers to Venezuela were Guyana ($X), Brazil ($X) and the United States ($X), together comprising X% of total imports. Uruguay, India and Argentina lagged somewhat behind, together accounting for a further X%.

India, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average rice import price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the import price, however, showed a slight curtailment. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

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