Venezuela: Sugar Annual
Link to report:
Venezuelan sugar production is forecast down to 150,000 metric tons in MT 2020/21 due to shortages of fuel and inputs. Post also estimates similar drops in current year production. In both the current and forecast year, Venezuela is expected to import lower volumes of sugar as public sector resources dwindle amid low oil prices and continued international sanctions. Lower-cost refined sugar imports will continue to replace raw sugar imported for domestic processing. Post estimates are significantly below official USDA estimates. FAS Caracas is proposing updates to MY 2017/18 and MY 2018/19 import estimates.
