Supply Chain Research

Venezuela’s food situation goes from bad to worse. There have been nearly 400 food-related protests in the first 11 days of the year, according to local press reports. Food imports had already fallen 89% in the three months to August 31, and by 4% sequentially, in part due to border crossing disputes with Colombia. Key food dependencies include Brazilian sugar ($35 million in the three months to August 31) and wheat from Mexico ($30 million). The situation hasn’t got much better recently, with exports from Mexico having fallen 9% in the three months to November 30 sequentially. Oil expor...