Venezuela, known for its extensive coastline and seafood exports, made an unprecedented purchase of USD 3.1 million worth of shrimp from the United States in 2023.

Shift in Import Trends

Despite a general decrease in the import of agri-food products from the United States by Venezuela over the past year, two products have seen a remarkable surge in demand. While imports of American corn and wheat witnessed declines, there was an increase of 3.78% in the import of rice and a 1.01% increase in the purchase of shrimp.

The recent report from the United States Department of Agriculture (USDA) reveals that Venezuela’s purchase of rice generated USD 31.3 million for US suppliers in 2023, a significant uptick from previous years. Similarly, the purchase of shrimp reached an all-time high of USD 3.1 million, marking a remarkable shift in trade dynamics.

Unprecedented Import of US Shrimp

Venezuela’s sudden import of shrimp from the United States is particularly noteworthy given its historical status as a shrimp exporter. The USD 3.1 million purchase in 2023 stands out as the highest recorded figure since records began 57 years ago. This unexpected development contrasts sharply with previous sporadic purchases, with Venezuela historically importing minimal quantities of shrimp from the US.

Conversely, export figures illustrate a progressive decline in Venezuela’s shrimp trade with the United States. Despite the US allocating USD 6.6 million for Venezuelan shrimp and prawns in 2023, this represents a notable 23% decrease compared to the previous year.