Boston, MA -- (SBWIRE) -- 10/15/2014 -- BMI believes that, given the substantial headwinds facing the Venezuelan economy, the country's real GDP will expand slowly over the coming years, at 1.3% in 2013 and 0.5% in 2014. Despite enormous natural resource wealth, the economy's outlook will be dimmed by poor macroeconomic governance, high inflation and significant political uncertainty. Furthermore, we expect household consumption to continue to be constrained by high inflation, which has substantially eroded purchasing power.

Headline Industry Data (USD)

- Per capita food consumption forecast 2014 to 2018 = -0.9%.
- Alcoholic drink sales forecast 2014 to 2018 = +73.6%.
- Soft drink sales forecast 2014 to 2018 = +72.1%.
- Mass grocery retail sales forecast 2014 to 2018 = +78.9%.

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Key Industry Trends And Developments

Empresas Polar Increases Production Of Bread Flour: The President of Empresas Polar (Lorenzo Mendoza) announced on August 28 2014 that his company had invested VEB212mn in an expansion of its bread flour production plant in Chivacoa Yaracuy state. The expansion will allow for a 21% increase in the plant's production capacity, enabling it to produce a further 41,244 tonnes of product each year and generate 70 extra jobs. Empresas Polar took this decision in the light of there being no movement by the government on the sale of state owned grain processing plants. At the announcement, Mendoza also highlighted that the company intended to review and revise product prices on a quarterly basis to avoid production problems, reported El Universal.

Venezuelans Looking For Cheaper Alternatives To Whiskey: The Wall Street Journal reported in August 2014 that sales of whiskey in Venezuela fell by 30% in 2013 and that the trend looks set to continue. The country has fallen out of the top-10 Scotch-whisky drinking nations list, from having once been the biggest Latin American consumer of the product. Quite simply, soaring inflation and state currency controls are effectively pricing the product...

The Venezuela Food & Drink Report features Business Monitor International (BMI)'s market assessment and independent forecasts for food and drink expenditure, consumption, sales, and imports/exports and forecasts for the mass grocery retail sector. The report also includes analyses of major regulatory developments, the background macroeconomic outlook and competitive landscape comparing national and multinational companies by leading products and services, sales, investments, partners and expansion strategies.

BMI's Venezuela Food & Drink Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the food and drink industry and the mass grocery retail market in Venezuela.

Key Benefits

- Benchmark BMI's independent food and drink industry forecasts for Venezuela to test other views - a key input for successful budgeting and strategic business planning in the Venezuelan food and drink market.
- Target business opportunities and risks in Venezuela through our reviews of latest industry trends, regulatory changes and major deals, projects and investments.
- Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.

Coverage

BMI Industry View

Summary of BMI's key industry forecasts, and views, covering food and drink manufacturing and consumption and the retail market.

Business Environment Rankings

BMI's Food & Drink Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors, food and drink manufacturers and mass grocery retailers.

The rankings methodology makes sophisticated use of over 40 industry, economic and demographic data points.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the food, drink and mass grocery retail sectors, and within the broader political, economic and business environment.

Food Forecasts

BMI's food chapter is divided into sections such as Meat, Fish, Confectionary, Dairy and Canned Foods, and provides insight into a market's food industry, centred on a forecast to end-2018 for the sector. The chapter includes the following elements:

Industry Forecast Scenario - Historical data series and forecasts to end-2018 for growth of key indicators within a market's food industry. Including consumption, food consumption as % of GDP, canned food sales, confectionery sales and food and drink imports and exports, among others.

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