US Boosts Agricultural Exports to Venezuela Amid Local Protests
The US Department of Agriculture's Foreign Agricultural Service has announced a package to boost US agricultural exports to Venezuela. The initiative, which includes government-backed credit and food assistance, aims to address concerns about Venezuelan national production.
US Under Secretary for Trade and Foreign Agricultural Affairs Luke J. Lindberg stated that the Trump administration is committed to Venezuela's economic prosperity and will leverage various export financing programs to help meet needs and build lasting trade relationships.
The package includes the reactivation of the GSM-102 guarantee program, which reduces the risk for financial institutions backing transactions in case importers fail to meet their commitments. The Agriculture Department also lifted restrictions on foreign banks supporting Venezuela-related transactions.
According to a USDA report, Venezuela will need 1.5 million metric tons of wheat during the 2026-2027 marketing year. Corn and soybeans are also identified as key staples for export.