Venezuela: Grain and Feed Update
The Government of the Bolivarian Republic of Venezuela (GBRV) continues to monopolize foreign exchange, imports of food, agricultural inputs, and distribution of those goods, creating profound challenges for grain production, consumption and trade. In addition, hyperinflation is reducing the purchasing power of Venezuelan consumers. Corn and sorghum production and feed use is declining because of dwindling poultry production. Corn for human consumption is down as consumers shift towards more affordable grain and starch staples. Rice and wheat imports are forecast to remain relatively steady, reflecting continued consumption of these basic staples. The suppliers of the grain imports have been shifting to adapt to the difficult economic environment.
