Venezuela: Grain and Feed Update
Link to report:
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. However, farmer access to necessary financing continues to be the primary constraint to expanding harvested area. Post estimates marginal increases in corn, rice, and wheat consumption in the current market year. However, Venezuela’s economic slowdown constrains further growth in grain consumption. The United States remains the largest corn exporter to Venezuela in the current MY with a 40 percent market share and is the third largest wheat exporter. Increased price competitiveness may favor U.S. rice exports to Venezuela from late 2023 into 2024. Post revises its Venezuelan wheat import estimate to 1.35 million metric tons (MMT), as traders will favor imports of wheat grain over finished products.
