Venezuela's meat imports from Nicaragua up 120% over 2010
The president of Nicaragua Ranchers Federation said that exports to Venezuela amount to USD 143 million
Nicaragua has exported 10,996 calves during 2011 to Venezuela -an increase of 120% compared to 2010, according to information provided by Salón Guerrero, the president of the Nicaragua Ranchers' Federation (Feganic).
Guerrero added that livestock exports to Venezuela totaled USD 143 million. This triples the amount recorded in 2010, stated DPA. The amount represents 24% of Nicaragua's total estimated bovine exports this year.
In 2010, Nicaragua earned USD 60 million from sales of 5,000 calves to Venezuela, within the framework of a cooperation agreement that includes the sale of large quantities of Venezuelan crude oil to Managua at preferential prices.
Guerrero stressed that Nicaragua-Venezuela ties have favored Nicaragua's stockbreeding sector, as bovine exports are highly priced in the Venezuelan market. Further, he noted that Nicaragua currently exports livestock to Venezuela and Central America. Finally, he added that as of 2012 Managua intends to tap the Asian and European markets, particularly Russia.
Following a wave of nationalizations carried out by the late President Hugo Chavez between 2007 and 2012, Venezuela has become the second most frequent respondent to investment treaty arbitration in the world (38 cases in total), after Argentina.