New Food market report from Business Monitor International: "Venezuela Food & Drink Report Q4 2012"
Boston, MA -- (SBWIRE) -- 11/09/2012 -- Venezuela faces major political and economic uncertainty in the run-up to and immediate aftermath of the October 2012 presidential elections. Although real GDP growth came in at 5.6% y-o-y in H112, we still expect a sharp slowdown in growth in the second half of the year, as the country's current growth model, which is driven by pre-electoral fiscal and monetary stimulus, is unsustainable. Inflation will remain elevated, at the highest level in Latin America, and the operating environment will remain very precarious for foreign multinationals in the country.
Headline Industry Data (US$)
- Per capita food consumption forecast to 2016 = -33.2%.
- Alcoholic drink sales forecast to 2016 = -33.2%.
- Soft drink sales forecast to 2016 = -30.7%.
- Mass grocery retail sales forecast to 2016 = -31.1%.
Key Company Trends And Developments
Cargill to Launch Stevia-Based Truvia in Venezuela: In July 2012 Cargill announced plans to launch Truvia, its stevia-based table-top sweetener, in Venezuela. The move follows success for the brand in the US, where it has already gained around 13% of the market. The move into Venezuela means that Truvia will be available in seven countries on three continents, according to a statement released by the firm, and this would signal that Cargill is planning a full global roll-out. The decision to launch in Venezuela comes despite the poor business environment within the food and drink sector as well as limited prospects for change in the near term. Despite this less-than-promising backdrop, Venezuela remains relatively attractive for certain added-value sectors for which price controls and government interference are not a significant issue.
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Key Risks To Outlook
Election Uncertainty: The huge uncertainty surrounding policy trajectory beyond the election in October 2012 poses a significant downside risk to our growth forecast.
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