Milk and cream market in Venezuela

Earlier Report Observations

The market for not concentrated, not sweetened milk and cream in Venezuela experienced substantial growth from 2018 to 2023, with its volume rising from 2 373 thousand tonnes to 4 259 thousand tonnes. This represents an overall expansion of nearly 80% across the five-year period, underpinned entirely by increases in domestic production as import volumes remained minimal.

Growth was most pronounced in 2020, when the market size surged by 29% year-on-year to reach 3 332 thousand tonnes. The pace of expansion moderated in the following years, with gains of 16.7% in 2021, 5.5% in 2022, and 3.9% in 2023, indicating a gradual stabilization at a higher production level above 4 million tonnes annually.

Production milk and cream in Venezuela

In kind, 2017-2020, K t

Top producers of milk and cream, 2017-2020

World map of production of milk and cream, 2017-2020

Venezuela's milk and cream production has grown for the third year in a row. In 2020, the country produced 3 331 thousand tons, which represents a significant 29.1% increase compared to the previous year. Looking at the period from 2017 to 2020, production rose by 46.1%, averaging an annual growth rate of 13.5%.

Annual dynamics of production in Venezuela in kind, 2017-2020, K t

Exports milk and cream from Venezuela

Exports in kind, t

Annual dynamics of product's exports from Venezuela in kind, 2017-2020, t

From 2017 to 2020, Venezuela's export market for milk and cream in kind was highly concentrated, with Curaçao accounting for 100.0% of all shipments.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Venezuela in kind, 2017-2020

Exports in value, K $ US

Annual dynamics of product's exports from Venezuela in value, 2017-2020, K $ US

Between 2017 and 2020, Curaçao dominated the geographic structure of Venezuela's milk and cream exports in value terms, representing 100.0% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Venezuela in value, 2017-2020

Imports milk and cream to Venezuela

Imports in kind, t

The import market for milk and cream in kind showed considerable volatility during this period. In 2018, imports hit their lowest point at 24 tons, while the peak occurred in 2017, creating a 707-fold difference between these two years. By 2020, Venezuela's cross-border shipments reached 1 055 tons, a sharp 125.3% increase from 2019. The most significant decline was in 2018, at 99.9%, followed by the largest surge in 2019, which saw growth of 1 815.6%.

Annual dynamics of product's imports to Venezuela in kind, 2017-2020, t

From 2017 to 2020, Nicaragua was the dominant player in Venezuela's milk and cream imports in kind, consistently making up 90.6% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Venezuela in kind, 2017-2020

Imports in value, K $ US

The import market in value terms experienced notable fluctuations over the observed years. The lowest point was in 2018, with imports valued at 74 thousand US dollars, while the highest was in 2017, resulting in a 173-fold gap between these extremes. In 2020, Venezuela imported 1 070 thousand US dollars worth of milk and cream, marking a steep 189.5% rise compared to 2019. The most substantial drop occurred in 2018, at 99.4%, followed by the biggest increase in 2019, which jumped by 400.0%.

Annual dynamics of product's imports to Venezuela in value, 2017-2020, K $ US

Between 2017 and 2020, Nicaragua accounted for 87.8% of Venezuela's total milk and cream imports in value terms, with the remainder spread across a diverse group of smaller countries.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Venezuela in value, 2017-2020