Browse Data and Analysis

FAS (Post) forecasts Venezuelan market year (MY) 2025/2026 corn production to reach 1.2 million metric tons (MMT), a 14 percent decrease year-on-year due to a significant drop in seed availability for the summer planting season.

Corn, wheat, rice, and sorghum consumption is expected to increase in marketing year (MY) 2025/26 due to the appreciation of the naira, slowing food price inflation, and macroeconomic stabilization.

FAS estimates Venezuela corn production at 1.36 million metric tons for the new market year (MY) 2024/2025 on a planted area of 350,000 hectares. Significant economic uncertainty persists following the July 28, 2024, presidential election, and higher inflation and a scarcity of U.S. dollars will likely inhibit increased corn acreage and limit yields.

Imports of wheat, rice, and corn in marketing year (MY) 2024/25 are estimated to increase as the economy stabilizes, inflation decreases, and the government implements a temporary zero-duty import policy for the afore-mentioned commodities until December 31.

In market year (MY) 2024/2025, FAS (Post) forecasts Venezuela’s corn production to reach 1.36 million metric tons (MMT), 5 percent higher year-on-year due to favorable weather conditions. Production increases are likely to increase despite low international prices and limited financing that will likely discourage expanded planting area.

Due to rising insecurity in grain producing regions and higher input costs affecting planting decisions, corn and rice production is expected to decline in marketing year (MY) 2024/25.

In January 2024, Nigeria approved the commercial release of four TELA maize varieties, which have been genetically engineered for improved insect-resistance and drought-tolerance. In addition to South Africa, Nigeria has become the second country in...

FAS (Post) revises Venezuela corn and rice production higher for market year (MY) 2023/2024 due to improved access to higher-quality agricultural inputs and seeds, and favorable weather conditions.

Post estimates marketing year (MY) 2023/24 wheat consumption to decrease to 4.5 million metric tons (MMT) or 10 percent from USDA's official estimate.

Rice import for MY 2023/24 is forecast to increase by 4 percent as flooding curbs domestic production and increases imports.

In Marketing Year (MY) 2023/24, Post forecasts increases in corn and rice production due to improved access to high-quality agricultural inputs and seeds in Venezuela. However, access to financing continues to be the primary constraint to a significant expansion of harvested area.

Nigeria wheat millers are diversifying their sources of wheat import due to the Russia-Ukraine crisis. FAS Lagos (Post) estimates wheat imports for MY 2022/23 at 6 million metric ton (MMT), a 3 percent reduction from last year’s Post estimate. Meanwhile, insurgency and floods in the northern part of the country greatly impacted corn and rice production respectively.