A combination of price controls, decreasing cane planted area, fear of land expropriation, and large amounts of imports continue to negatively impact the domestic sugar industry.
Sugar production is estimated to fall in MY 2013/2014 but not as much as USDA estimates.
The Government of the Bolivarian Republic of Venezuela (GBRV) regulates the price of sugar for the domestic market.
Imports will be also needed to cover the needs of the soft drink and confectionary industries.
Post estimates a slight reduction in domestic production for MY 2014/2015.
