Venezuelan Food Imports Amount to US$2.5 Billion in Six Basic Categories
Venezuelan food imports currently amount to US$2.5 billion, reported the Minister of Agriculture and Lands, Julio León Heredia, who highlighted that the country buys six basic categories in international markets, although he did not specify which products they are. Banca y Negocios Heredia pointed out that the national Executive's priority is import substitution [...]
TL;DR
- Venezuela's food imports total US$2.5 billion annually across six basic categories.
- The national government prioritizes import substitution and strengthening the primary agricultural sector.
- Venezuela requires 700,000 hectares of corn cultivation to meet national demand, currently possessing only 300,000 hectares (42% of the target).
- Proposed reference prices for corn are US$360/ton for white corn and US$320/ton for yellow corn.
- These prices aim to provide certainty to the primary sector and ensure fair profits for producers and adequate prices for consumers.
- Farmers are advised to use meteorological precision to prepare for a potential drought and the effects of El Niño.