In 2001, agriculture amounted to 5% of the GDP, engaging roughly 8% of the economically active population. Venezuela continues to rely heavily on food and agricultural imports. Despite an abundance of resources favorable to agricultural production, 70% of cereals and 98% of oilseeds consumed in Venezuela are imported.
Venezuela does not have the rich soil of many other Latin American countries. In 1998, 3.4 million hectares or 4% of the total land area was cultivated for temporary or permanent crops. The most highly developed agricultural region is the basin of Lake Valencia, west of Caracas and inland from Puerto Cabello. The principal cash crop of this region is coffee. Before oil came to dominate the economy, coffee accounted for close to two-thirds of all income accrued from exports.
The main field crops are sugarcane, rice, corn, and sorghum, and the chief fruits are bananas, plantains, oranges, coconuts, and mangoes. The most important agricultural items for industrial use are cotton, tobacco, and sisal. Two varieties of tobacco grow in Venezuela, black and Virginia blond; the latter is used for the most part to make certain popular brands of US cigarettes under license.
Sisal is grown and widely used to make cordage and bags for sacking grains and coffee. Thin strings of the fiber are also employed in hammocks, household bags, doormats, hats, and sandals.
Venezuela remains a net importer of agricultural products, with total imports reaching US$ 7.5 billion in 2008 according to Mordor Intelligence.
Demand for intermediate agricultural products increased from the U.S., total exports were USD 122 million in 2003 compared to USD 537 million in 2008. Additionally, demand for consumer-oriented products from the United States has been growing rapidly; total exports of this category to Venezuela in 2003 were USD 35 million compared to USD 150 million in 2008.
Demand for food and beverages is driven by a population of 28 million that is growing with a CAGR of 2%. With two-thirds of the population under the age of 30, Venezuela is a youth-oriented food market. This is an excellent opportunity for Import market share to increase in the future.
Key factors in the growth of Fruits & Vegetables Market in Venezuela are technological advancements, growing population levels, strong economic growth, good availability of fruits and vegetable products, and expanding local production. Availability of water and vast arable land makes it easy to cultivate fruits and vegetables in the country.
Inefficient logistics, and poor post-harvest management are the biggest challenges for the Fruits and Vegetables Industry.
What the report offers
The study identifies the situation of Venezuela and predicts the growth of its Fruits and Beverages market. Report talks about Fruits and Beverages 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.
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