Semi-milled or wholly milled rice market in Venezuela

Earlier Report Observations

In 2018, Venezuela's production of semi-milled or wholly milled rice fell to 555 thousand tons from 690 thousand tons the previous year, driven by severe shortages of seeds and fertilizers, frequent power outages that disrupted irrigation, and a lack of spare parts for agricultural machinery. Production continued to decline in 2019 and 2020, reaching 436 thousand tons in 2020. However, total market volume grew from 779 thousand tons in 2018 to 896 thousand tons in 2020 as imports surged from 89 thousand tons to 468 thousand tons, offsetting the drop in domestic output.

By 2021, production recovered to 618 thousand tons while imports decreased to 391 thousand tons, pushing the market volume to a peak of 997 thousand tons. The following year, production dipped to 561 thousand tons, imports fell to 254 thousand tons, and the market size contracted to 801 thousand tons.

In 2023, production rose to 597 thousand tons even as the sector faced persistent limitations in financing and fuel supply that restrained the expansion of sown area, which reached 95 000 hectares. Imports plummeted to 79 thousand tons, reducing the market volume to 661 thousand tons. For 2024, sown area expanded by 29% to 123 000 hectares, enabling domestic production to cover approximately 68% of internal consumption, although challenges with diesel supply, credit access, and price controls continued.

Production semi-milled or wholly milled rice in Venezuela

In kind, 2017-2020, K t

Top producers of semi-milled or wholly milled rice, 2017-2020

World map of production of semi-milled or wholly milled rice, 2017-2020

Venezuela's production of semi-milled or wholly milled rice declined for the second consecutive year. In 2020, the country produced 436.1 thousand tons, marking a significant decrease of 21.5% compared to 2019. Between 2017 and 2020, production fell by 20.8%, which translates to an annualized decline rate of 7.5%. The highest production level was recorded in 2018 at 690.0 thousand tons, with the largest annual increase of 25.3% also occurring that year.

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

Exports semi-milled or wholly milled rice from Venezuela

Exports in kind, K t

The market displayed an unstable trend throughout the period. Exports reached their lowest point in 2019 and peaked in 2020, with a 730-fold difference between these years. In 2020, Venezuela's exports of semi-milled or wholly milled rice amounted to 8.1 thousand tons, representing a dramatic increase of 72 918.0% from the previous year. The minimum value was recorded in 2019 at 0.0 thousand tons, with the largest decline of 79.5% also occurring in 2019.

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

From 2017 to 2020, Venezuela's exports of semi-milled or wholly milled rice were heavily dependent on Cuba, which accounted for 96.2% of total export volumes.

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 market showed signs of volatility during the observed period. Import levels fluctuated significantly, with a 1 065-fold difference between the low in 2019 and the high in 2020. In 2020, Venezuela's exports of semi-milled or wholly milled rice in value terms reached 8.0 million US dollars, showing a remarkable improvement of 106 367.0% from 2019. The minimum value was recorded in 2019 at 0.0 million US dollars, with the largest decline of 92.9% also occurring that year.

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

Between 2017 and 2020, Cuba effectively monopolized Venezuela's exports of semi-milled or wholly milled rice in value terms, capturing 96.7% 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 semi-milled or wholly milled rice to Venezuela

Imports in kind, K t

Venezuela's imports of semi-milled or wholly milled rice increased for the third consecutive year. In 2020, the country imported approximately 468.2 thousand tons, up by 84.4% year-over-year. Between 2017 and 2020, imports surged by 824.5%, equating to an annualized growth rate of 109.9%.

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

From 2017 to 2020, Guyana and Brazil together accounted for 86.3% of Venezuela's total imports of semi-milled or wholly milled rice in volume terms, with other countries forming a diversified but less significant portion.

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

Venezuela's imports of semi-milled or wholly milled rice in value terms increased for the third consecutive year. In 2020, the country imported a total of 468.2 million US dollars worth of semi-milled or wholly milled rice, showing a steep advance of 72.3% compared to 2019. Over the period from 2017 to 2020, imports grew by 625.3%, with a compound annual growth rate of 93.6%.

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

Between 2017 and 2020, Venezuela's imports of semi-milled or wholly milled rice in value terms were largely oriented towards Guyana and Brazil, whose combined share reached 83.6% of total flows, with other destinations playing a secondary role.

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

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