Raw cane or beet sugar in solid form market in Venezuela

Earlier Report Observations

In 2018-2019, the sugar market volume in Venezuela sharply contracted from 904.1 thousand tons to 510.9 thousand tons. This decline occurred amid stagnation and falling sugarcane production, with sugar output hitting a historical low in 2019, reflecting a deep crisis in the national sugar industry.

Starting in 2020, the situation began to change. The dollarization of payments for producers and industry incentivized domestic output, while the government prioritized raw sugar imports and allowed private sector participation, boosting supply. These measures drove market volume up to 699.9 thousand tons by 2021.

In 2022, persistent diesel shortages temporarily constrained production, though imports from Brazil remained high. By 2023, the sugar sector grew for the third consecutive year, supported by rules that tied raw sugar imports to local cane milling, further raising domestic output and stabilizing market volume at 662.1 thousand tons.

Production raw cane or beet sugar in solid form in Venezuela

In kind, 2017-2020, K t

Top producers of raw cane or beet sugar in solid form, 2017-2020

World map of production of raw cane or beet sugar in solid form, 2017-2020

Venezuela's production of raw cane or beet sugar in solid form declined for the second year in a row. In 2020, the country produced 419.9 thousand tonnes, which represents a 4.8% decrease compared to the previous year. The highest production level was recorded in 2018 at 460.6 thousand tonnes, marking an 8.5% increase that year.

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

Exports raw cane or beet sugar in solid form from Venezuela

Exports in kind, K t

The data shows irregular changes, pointing to a volatile market environment. Export levels fluctuated significantly, with a 23-fold difference between the peak in 2018 and the low in 2017. In 2020, Venezuela's exports of raw cane or beet sugar in solid form totaled 0.0 thousand tonnes, a sharp 58.3% drop year-over-year. The maximum export value was recorded in 2018 at 0.0 thousand tonnes. The largest decline occurred in 2019 with a 59.6% decrease, while the biggest increase was in 2018 at 2 239.4%.

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

From 2017 to 2020, the United States and Russia were the main buyers of raw cane or beet sugar in solid form from Venezuela, together accounting for 93.3% of total exports in kind. The remaining 6.7% was distributed among various other countries.

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

The data reveals irregular changes, indicating a volatile market environment. Export values reached their highest point in 2018 and fell to their lowest in 2017, showing a 44-fold shift. In 2020, Venezuela exported 0.0 million US dollars worth of raw cane or beet sugar in solid form, a steep 42.4% decrease from the previous year. The maximum value was recorded in 2018 at 0.0 million US dollars. The largest decline happened in 2019 with a 74.6% drop, while the biggest increase was in 2018 at 4 320.9%.

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

Between 2017 and 2020, the United States remained the leading buyer of raw cane or beet sugar in solid form from Venezuela, accounting for 78.2% of total exports in value terms. The remaining 21.8% was spread across many other countries.

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

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

Imports raw cane or beet sugar in solid form to Venezuela

Imports in kind, K t

The market exhibited an unstable trend throughout the period. Imports reached their lowest point in 2019 and peaked in 2018, with a 6.4-fold difference between these years. In 2020, Venezuela imported 137.6 thousand tonnes of raw cane or beet sugar in solid form, a substantial 97.3% increase year-over-year. The minimum import volume was recorded in 2019 at 69.8 thousand tonnes, while the maximum was in 2018 at 443.4 thousand tonnes. The largest decline occurred in 2019 with an 84.3% decrease.

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

From 2017 to 2020, Brazil was the dominant partner for Venezuela's imports of raw cane or beet sugar in solid form in kind, holding an 81.1% share of total flows. Other markets made up the remaining 18.9%.

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

The market showed signs of volatility over the observed period. Import values were at their lowest in 2019 and highest in 2018, reflecting a 5.7-fold gap. In 2020, Venezuela imported raw cane or beet sugar in solid form worth 0.0 million US dollars, up by 100.9% from 2019. The minimum value was recorded in 2019 at 25.7 million US dollars, while the maximum was in 2018 at 146.1 million US dollars. The largest decline was in 2019 with an 82.4% decrease.

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

Between 2017 and 2020, Brazil was the key supplier of raw cane or beet sugar in solid form to Venezuela, accounting for 78.8% of total imports in value terms. A diversified group of other countries made up the remaining 21.2%.

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

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