For the past few years, Venezuela has seen a steady and staggering rise in food imports. In 2003, Venezuela’s food imports totaled $2.4 million (US). Fast forward to 2010, when Venezuela’s food imports reached $13 million (US), a 442% rise above its 2003 levels. Today, Venezuela imports 40% of its rice and corn, 56% of its coffee, and 60% of its sugar. In the past, all these crops were sustainably grown in the country. Experts…
Yesterday, in a shot across the bow at the Venezuelan government the U.S. State Department sanctioned seven foreign companies that it deemed in direct violation of international agreements over Iran. Among those listed is Venezuela’s state-owned oil company, Petroleos de Venezuela, S.A. (PDVSA). “By imposing these sanctions, we’re sending a clear message to companies around the world: Those who continue to irresponsibly support Iran’s energy sector or help facilitate Iran’s efforts to evade U.S. sanctions…
Under the pretext of doing its due diligence in assessing the cause for the country’s food shortage crisis, the Venezuelan government unleashed yet another round of expropriations and threats of expropriations. On Wednesday, Venezuelan government officials carried out a surprise inspection of a warehouse belonging to U.S. agri-business giant Cargill as part of the government’s investigation of retailers for alleged hoarding and price-gouging. President Hugo Chavez often blames “capitalist speculators” for shortages of goods, but…