Russian wheat supplies to Venezuela increased threefold in a year

Published 2024년 11월 6일

Tridge summary

Venezuela, a South American country with a diverse climate and rich natural resources, heavily relies on oil but also has a significant agricultural sector. Despite this, it struggles to meet its grain needs, producing only 1.4 million tons of corn against a domestic consumption of 2.8 million tons in the 2023/24 agricultural year. The country does not produce wheat and imports it from countries like Canada, the United States, Brazil, and Russia, with over 800 thousand tons imported in 2023. Russia has increased its wheat exports to Venezuela and has been exporting peas since 2021. The suspension of Venezuela's MERCOSUR membership in 2017 has removed import duty exemptions for Brazilian and Argentine products, benefiting Russian exporters. This growing demand for grain in Venezuela offers a promising market for Russian grain exporters.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Bolivarian Republic of Venezuela, located in the north of South America at the junction of the equatorial and tropical zones, is distinguished by its diverse climate and wealth of natural resources. The country has fertile soils, vast plains and lowlands, which create favorable conditions for agriculture, despite the significant dependence of the economy on the oil industry. Venezuela's agricultural sector includes many areas, from livestock to the cultivation of fruits, vegetables and grain. However, in order to improve food security, the country is increasing its purchases of Russian wheat. To date, grain production in Venezuela does not meet domestic needs. The main grain crops grown are corn and, to a lesser extent, rice. Corn occupies a dominant position, as it has traditionally been one of the key crops in the diet of Venezuelans. A significant part of the corn is used to feed livestock. In the 2023/24 agricultural year, Venezuela's corn production volume was 1.4 million ...
Source: Zol

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