Milk market in Venezuela

Earlier Report Observations

Production of milk in Venezuela increased steadily from 2 344 thousand tons in 2018 to 4 170 thousand tons in 2023, with the market volume growing from 2 425 to 4 181 thousand tons over the same period. The most significant expansion occurred in 2020 and 2021, when production rose by 29% and 15% respectively. This surge was partly driven by government adjustments to regulated producer prices, which increased by 119% between 2019 and 2022, encouraging higher output.

The market has been shaped by repeated border closures with Colombia, which cut off informal export channels and created domestic oversupply, putting downward pressure on milk and cheese prices. Additionally, the dairy sector remains highly informal, with an estimated 65% of production originating in border states and around 86-88% of milk used for informal cheese, limiting industrialization and processing capacity.

In 2022, the launch of Natulac UHT milk enriched with vitamins introduced a new long-life segment, while economic stabilization and lower inflation supported a projected 5% per capita consumption growth. By 2023, a prolonged drought raised feed costs and local prices, slowing production growth to 4%. Early 2024 saw a further 2.9% production increase in the first four months, supported by greater on-farm milk availability and export promotion.

Production milk in Venezuela

In kind, 2017-2020, K t

Top producers of milk, 2017-2020

World map of production of milk, 2017-2020

Venezuela's milk production has increased for the third consecutive year. In 2020, the country produced 3,314 thousand tons of milk, marking a sharp year-over-year increase of 29.1%. Over the period from 2017 to 2020, production grew by 47.7%, with a compound annual growth rate of 13.9%.

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

In value, 2017-2020, M $ US

Venezuela's milk production has risen for the third year in a row. In 2020, the output was valued at 11,116 million US dollars, representing a year-over-year increase of 46.9%. Between 2017 and 2020, production increased by 102.6%, which translates to an annualized growth rate of 26.5%.

Annual dynamics of production in Venezuela in value, 2017-2020, M $ US

Exports milk from Venezuela

Exports in kind, t

Milk export volumes from Venezuela have increased for the third consecutive year. In 2020, exports totaled 14 tons, showing an abrupt year-over-year rise of 71.2%. From 2017 to 2020, exports grew by 375.9%, with a compound annual growth rate of 68.2%.

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

From 2017 to 2020, the core markets for Venezuela's milk exports in kind were Curaçao, Chile, and Peru, accounting for 44.9%, 30.0%, and 19.8% of exports, respectively. Together, these three countries represented 94.7% of total export flows.

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, M $ US

Milk exports from Venezuela have increased for the third year in a row. In 2020, exports amounted to 0.0 million US dollars, up by 94.7% compared to 2019. Between 2017 and 2020, exports grew by 552.9%, equating to an annualized rate of 86.9%.

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

Over the period 2017–2020, Curaçao, Chile, and Peru were the largest contributors to Venezuela's milk exports in value terms, representing 37.3%, 35.7%, and 22.2% of exports, respectively. Collectively, they accounted for 95.3% of total export 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 to Venezuela

Imports in kind, t

Milk import volumes to Venezuela showed noticeable fluctuations during the period. The lowest volume was recorded in 2019 at 4,552 tons, while the peak occurred in 2018 with 81,150 tons, resulting in an 18-fold difference between these years. In 2020, imports amounted to 4,557 tons, remaining nearly unchanged from 2019. The largest decline was observed in 2019 at 94.4%, and the largest increase was in 2018 at 34.1%.

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

From 2017 to 2020, Venezuela's milk imports in kind were heavily concentrated on Mexico, which accounted for 71.5% of total flows, with other countries making up the remaining share.

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, M $ US

Milk import values to Venezuela exhibited irregular changes, indicating a volatile market. The minimum value was recorded in 2020 at 8.5 million US dollars, while the maximum was in 2018 at 161.8 million US dollars, showing a 19-fold variation. In 2020, imports declined steeply by 49.3% compared to 2019. The largest decrease occurred in 2019 at 89.6%, and the largest increase was in 2018 at 20.1%.

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

Throughout 2017–2020, Mexico dominated Venezuela's milk imports in value terms, accounting for 70.6% of total flows, while other destinations contributed relatively small shares.

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

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