Venezuela: Grain and Feed Annual

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. Rice production in MY 2024/2025 is projected to grow significantly, boosted by higher international prices and improved weather conditions. Post forecasts a moderate two percent growth in Venezuelan wheat imports to 1.32 MMT in the out-year due to the private sector favoring larger volumes of grain imports over finished wheat products. Although inflation is expected to decrease in 2024, continued low consumer purchasing power will constrain grain consumption growth. From late 2023, the United States regained its price and quality competitiveness in paddy rice, and significant market share growth is expected in the out-year.