Venezuelan Daily Brief

Published in association with The DVA Group and The Selinger Group, the Venezuelan Daily Brief provides bi-weekly summaries of key news items affecting bulk commodities and the general business environment in Venezuela.

Thursday, October 15, 2015

October 15, 2015

International Trade


Cargo that has arrived at Puerto Cabello:

  • 6,390 tons of chicken from Brazil for state agency CASA
  • 2,000 tons of milk powder from Brazil for state agency CASA
  • 1,548 tons of pork from Brazil for state agency CASA
More in Spanish: (Bolipuertos,; Notitarde,; Ultimas Noticias,; El Universal,; El Nacional;


Cargo that has arrived at Maracaibo:

  • 6,000 tons of steel beams and plate from Dominican Republic, consigned to ODEBRECHT, for works on a second bridge over Lake Maracaibo
(Bolipuertos,; Ultimas Noticias,


Cargo that has arrived at La Guaira:

  • 100,000 tons of wheat and white corn from Mexico and Canada for government agencies
  • 300 containers with medication and basic products, such as black beans, milk and coffee, for state agencies CASA and the "Barrio Adentro Mission" Foundation.
  • Machinery, auto parts, galvanized wire and paper for state agencies CAVIM, INVEPAL and AGROPATRIA


Uruguay sold Venezuela 8,000 tons of powdered milk in September, compared to the 2,000 tons shipped in the first eight months of this year, according to official sources. This is part of a 40,000 ton bilateral agreement. (Veneconomy,



Oil & Energy


Venezuela says eight non-OPEC nations invited to Vienna meeting

Oil Minister Eulogio del Pino announced that eight non-OPEC countries have been invited to an Oct. 21 oil meeting: Azerbaijan, Brazil, Colombia, Kazakhstan, Norway, Mexico, Oman and Russia. The technical meeting of oil experts from the Organization of Petroleum Exporting Countries and non-OPEC countries will be held in Vienna, he said. Venezuela will unveil a bold new oil strategy this month. The country's long-time oil minister and current United Nations ambassador, Rafael Ramirez, says the proposal would reapply the old mechanism of progressive production cuts to control prices, with a "first floor" of US$ 70 per barrel and a later target of US$ 100 per barrel. (Reuters,; Veneconomy,; El Universal,



Economy & Finance


Maduro claims international banks are carrying out an economic blockade against Venezuela

President Nicolás Maduro is saying that an indirect world economic blockade is being applied against Venezuela by international banks that "impose unattainable conditions" in order to grant credits to this nation. More in Spanish: (El Mundo,


2016 budget law sent to National Assembly without statistics on growth or inflation

For the first time in history, the Finance Ministry has sent the National Assembly its draft National Budget Law and the Indebtedness Law for 2016 with no macroeconomic indicators, such as inflation and growth. On orders from President Maduro, the Central Bank cannot publish data on the National Consumer Price Index, GDP, among others. This complicates calculating items such as salary increases or allocations to state and local government. Data has not been published since the last quarter of 2014. More in Spanish: (El Nacional;; Agencia Venezolana de Noticias;; El Universal,


Food inflation: It’s getting hard for Venezuela to feed itself

Rampant inflation is nothing new to the Venezuelan economy, but in a sign of how severe the situation has grown for some people there, food prices spiked by 22.2% in August from the previous month, according to new research. This inflation figure represents the highest August rate in 20 years, according to data from the Caracas-based workers' advocacy group CENDA. More and more, Venezuelans are turning to the black market to get their hands on critical goods, as the price of food in supermarkets is controlled by the government. "A worker on minimum wage can only afford to do grocery shopping for one week [of each month]," said CENDA.  "During the oil price boom, the Venezuelan government intervened throughout the economy, undermining many sectors, including agriculture. Domestic food production plummeted, requiring the country to import most of its food," said Shannon O'Neil, senior fellow for Latin America Studies at the Council on Foreign Relations. "Now, with oil prices down, the government is running out of dollars, forcing it to severely limit imports, including food and other basic necessities...With little on the shelves, people are desperate, driving up prices of the goods they can find," said O'Neil. "Shortages will only get worse, as oil prices are likely to remain low and the country's debt grows." (CNBC:


Venezuela has granted Nicaragua over US$ 4.2 billion since 2008

Nicaragua's Central Bank reports that nation has received US$ 4.251 billion from Venezuela since 2008 through the first semester of 2015: US$ 3.396 billion in loans from PDVSA; US$ 775 million in investment projects, mainly in energy, and the remainder are donations.  More in Spanish: (El Universal,



Politics and International Affairs


Opposition will not adhere to agreement on elections proposed by regime and Elections Council

The opposition Democratic Unity Conference (MUD) says the government's insistence on an agreement to abide by election results is just one more campaign ploy designed to distract attention from poll results. Vicente Bello, the MUD representative to the Elections Council (CNE) said the problem is not the delivery of results but the lack of equal conditions for the campaign. He responded to CNE chair Tibisay Lucena's charges of a campaign to discredit the institution, saying: "What discredits the CNE is that it violates the law by refusing to call for direct elections to the Latin American Parliament (PARLATINO), that it violates the constitution by allowing candidates to campaign with government funds".  (El Nacional;


CNE director clarifies that signing the elections agreement is not mandatory

The sole member of the five member National Elections Council who is not pro regime, Luis Emilio Rondón, says signing an agreement on election results is a "voluntary action" and not mandatory. He added that what is mandatory is to not carry out actions which imply an unfair advantage, such as "the use of public resources to benefit any political organization or candidacy" (El Nacional;


UNASUR's Samper supports agreement on election results

Ernesto Samper, Secretary General of the Union of South American Nations (UNASUR), has come out in support of the proposal by the ruling United Socialist Party of Venezuela (PSUV) for all political parties participating in the parliament vote to be held next December 6 to sign a pact to commit to respect the election results. The directorate of the National Electoral Council (CNE) approved the implementation of the pact proposed by the PSUV. (El Universal,


Communist Party demands that MUD must abide by results

Venezuela's pro-government Communist Party has challenged the opposition to accept a call by the National Elections  Council to sign an agreement on accepting election results on December 6th. At the same time government party leader and legislator Darío Vivas says "they will not sign because they are working toward sabotage, violence and conflict within the country". More in Spanish: (El Nacional;


Maduro says he will not accept violence during December 6th elections

President Nicolás Maduro says peace will prevail during the upcoming December 6th parliamentary elections and that he will not tolerate any type of violence in the aftermath. "I will not accept a single sign of disregard or violence against the elections arbiter or against the people", he says. More in Spanish:  (Ultimas Noticias,


Capriles denounces grenade attacks against Miranda state police

Opposition leader and Miranda state governor Henrique Capriles says three Miranda state police members were victims of grenades (that are legally under military controls) thrown by criminals. "Venezuelans demand that the Defense Minister be held accountable to explain why this type of material, which is exclusively controlled by the Armed Forces, is in the hands of criminals", he said. He charged that grenades are sold on the black market for about US$ 100 at the unofficial exchange rate. "Who is behind this racket? Major General Vladimir Padrino, you must face the nation and say what you will do to stop this from happening", he added. More in Spanish: (Infolatam:


Leopoldo López to appeal sentence, family meets with the Pope

Counsel for imprisoned opposition leader Leopoldo López says he will appeal the sentence that condemned him to almost 14 years in jail "for exercising the art of the word" and will ask that the case be reviewed "without political influences". "The sentence must be revoked and Leopoldo must be set free", says lawyer Juan Carlos Gutiérrez. The appeal needs to be accepted by a Caracas court. At the same time, his wife and parents held a brief meeting with Pope Francis in St. Peter's Square in the Vatican, and delivered to him a letter written by López from his prison cell. His wife, Lilian Tintori, said that in this second meeting she has had with the Pope she spoke for 78 political prisoners, and of the need for transparency in upcoming parliamentary elections.  "I'm watching for this issue and I pray for him," said Pope Francis, according to Tintori. (El Universal,; and more in Spanish: Infolatam:; (El Universal,


Ledezma' wife calls on Supreme Tribunal to respect UN decision and free the mayor

The wife of jailed Caracas Metropolitan Mayor Antonio Ledezma, Mitzi Capriles, is asking Venezuela's Supreme Tribunal to comply with a resolution by the UN's Working Group on Arbitrary Detention, which has termed his arrest "arbitrary". She added that the resolution establishes that international standards on the right to an impartial trial have been violated. More in Spanish: (El Universal,; El Nacional;


Maduro says 1966 Geneva Agreement will be reactivated in Guyana border dispute

President Nicolás Maduro met with the UN Commission on the Guyana Essequibo border dispute and said "the time has come to solve this matter...through peaceful diplomacy". More in Spanish: (Ultimas Noticias,; Agencia Venezolana de Noticias;; El Universal,


Maduro and Bolivia's Morales call for ALBA to support Brazil's Rousseff

President Nicolás Maduro says nations within the ALBA alliance will reject recent attacks on Brazilian President Dilma Rousseff. "Both Evo Morales and I have expressed our concern and will begin consultations because it appears that a coup d'etat is being announced in Brazil against President Dilma Rousseff...we will not remain silent...we will speak out loud and clear in support of the popular forces and the people of Brazil", he said.  More in Spanish: (El Universal,



The following brief is a synthesis of the news as reported by a variety of media sources. As such, the views and opinions expressed do not necessarily reflect those of Duarte Vivas & Asociados and The Selinger Group.

No comments:

Post a Comment