Price for Cereal Groats and Meal; of Maize (Corn) in Venezuela - 2022

Contents:

1. Price for Cereal Groats and Meal; of Maize (Corn) in Venezuela (CIF) - 2022
2. Price for Cereal Groats and Meal; of Maize (Corn) in Venezuela (FOB) - 2022
3. Imports of Cereal Groats and Meal; of Maize (Corn) in Venezuela
4. Exports of Cereal Groats and Meal; of Maize (Corn) in Venezuela

Price for Cereal Groats and Meal; of Maize (Corn) in Venezuela (CIF) - 2022

In 2022, the average import price for cereal groats and meal; of maize (corn)s amounted to $537 per ton, rising by 1.8% against the previous year. Overall, the import price, however, saw a slight reduction. The pace of growth was the most pronounced in 2020 when the average import price increased by 9.9%. The import price peaked at $633 per ton in 2012; however, from 2013 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 Colombia ($897 per ton), while the price for Chile ($467 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+3.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Cereal Groats and Meal; of Maize (Corn) in Venezuela (FOB) - 2022

In 2022, the average export price for cereal groats and meal; of maize (corn)s amounted to $1,715 per ton, waning by -44.6% against the previous year. Overall, the export price, however, continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2015 when the average export price increased by 42%. The export price peaked at $3,096 per ton in 2021, and then declined rapidly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Aruba ($15,930 per ton), while the average price for exports to Canada ($128 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 Switzerland (+75.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Cereal Groats and Meal; of Maize (Corn) in Venezuela

For the fourth year in a row, Venezuela recorded growth in supplies from abroad of cereal groats and meal; of maize (corn)s, which increased by 4.9% to 7.2K tons in 2022. The total import volume increased at an average annual rate of +10.5% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 14% against the previous year. Over the period under review, imports of reached the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, imports of cereal groats and meal; of maize (corn)s expanded sharply to $3.9M in 2022. In general, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +17.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.4% against 2019 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 26%. Imports peaked in 2022 and are expected to retain growth in the near future.

Top Suppliers of Cereal Groats and Meal; of Maize (Corn) to Venezuela in 2022:

1. Brazil (7.1K tons)
2. Chile (0.1K tons)
3. Colombia (0.1K tons)

Exports of Cereal Groats and Meal; of Maize (Corn) in Venezuela

For the fourth consecutive year, Venezuela recorded growth in shipments abroad of cereal groats and meal; of maize (corn)s, which increased by 231% to 860 kg in 2022. In general, exports posted significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of cereal groats and meal; of maize (corn)s soared to $1.5K in 2022. Over the period under review, exports posted a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Cereal Groats and Meal; of Maize (Corn) from Venezuela in 2022:

1. Luxembourg (427.0 kg)
2. Canada (328.0 kg)
3. Aruba (71.0 kg)
4. Guyana (34.0 kg)

Source: IndexBox Market Intelligence Platform