Venezuela's abundant farmland and temperate climate provide ideal conditions for agriculture. However, as oil came to dominate the economy, agriculture languished and, during the oil-boom years of the 1970s, imports of agricultural products rose rapidly.
The sector today only provides less than five percent of GDP, whereas four decades ago it was the backbone of the economy. Even though today approximately only 20% of the land is used for agriculture, it remains an important source of employment (around 14 percent of the labor force). More than half of agricultural income is from cattle ranching, while dairy products, fruit, grain, poultry farming and vegetables aggregated generate approximately 40 percent, with the balance coming from forestry and fishing.
Despite long periods when heavy subsidies were provided to the agricultural sector, Venezuela imports more than half of its needs for wheat, sugar, vegetable oil and yellow maize, with the United States supplying more than one-third of Venezuela's total food imports . Nevertheless, the oil industry also led to the development of good infrastructure (roads, markets, communications, etc.) in the interior of the country, which should facilitate agricultural intensification. Nearly 80 percent of Venezuela’s income comes from oil .
The agricultural area of Venezuela is variously reported as 21.6 million hectares to 34.6 million hectares. The FAO reports that 84 percent of the former figure is covered by permanent pastures, while Venezuela estimated that 79 percent of the latter area was adequate for livestock production.
Venezuela Agriculture Market is developing due to rapidly increasing tourism, Increase in consumption, advanced technologies, low water requirement in Horticulture process and Government Initiatives. Venezuela have abundance of arable land. Horticulture is the new trend in agriculture production which have given boost to the production. Venezuela's abundant farmland and temperate climate provide ideal conditions for agriculture.
High competition in exports, low contribution of agro sector in GDP are the biggest constraints for the sector in Venezuela. Also, post production management is worst in the country, which makes it difficult to transport fresh food on time.
What the report offers:
The study identifies the situation of Venezuela, and predicts the growth of its agriculture market. Report talks about Agriculture production, consumption, import and export with prices and market trends, Government regulations, growth forecast, major companies, upcoming companies & projects, etc. Report will talk about Economic conditions of and future forecast of its current economic scenario and effect of its current policy changes in to its economy, reasons and implications on its growth. Lastly, the report is divided by major import & export and importing and exporting partners.