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Venezuela Takes $100 million to Panama to Buy Food


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Is there a chance that the cost of our locally purchased food items will go up because of a draw down in the supply chain? Not complaining here, just curious. Our understanding of the situation in Venezuela is rather dire.

 

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Venezuela Takes $100 million to Panama to Buy Food

The Venezuelan government has announced that it will be negotiating with Panamanian companies interested in selling food and commodities that can come into the country duty free.

Thursday, July 21, 2016

The government of Venezuela has announced that it has $100 million available to buy more than one thousand tons of food products, "... including canned tuna, tomato sauce, mayonnaise, pasta, wheat flour, rice, lentils, black beans, margarine, oatmeal, coffee, powdered milk and canned meat. "

Personal hygiene products to be requested include shaving razors, sanitary towels, soap, toilet paper, toothpaste, shampoo and deodorant.

Deputy Minister of Domestic Trade in Venezuela, Urbáez Renier said that "... 'As soon as we have analyzed the profile of companies that are financially solvent, have acceptable prices and can guarantee shipping logistics, we will be signing the contract and making a down payment," the official said noting that they hope that as soon as the purchase order is finalised, the products will reach the Venezuelan territory within a period not exceeding three weeks and will enter exempt from tariffs in that country."

"... Urbáez explained that so far more than six Panamanian companies have expressed interest in participating in this first round of negotiations for direct purchases and they expect to finalise contracts this week. "

http://www.centralamericadata.com/en/article/main/Venezuela_Takes_100_million_to_Panama_to_Buy_Food

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Bud.

 

No.  There is not a chance for any increase.   The regulations in Panama does not allow it.  And according to the news the venezuelan government chose some specific industries in Panama as supplier of the products they may need.  So I guess all those companies will prepare themselves to this new sales oportunities by having enough raw material for the production of this increased sales.

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I am posting one last article on this subject, primarily for closure. Others are free to continue this topic if they wish.

And thanks to Roger B for the clarification.

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Venezuela aims $100 million at Panama for food

Posted on July 23, 2016 in Panama

Post Views: 174

The Venezuelan government has announced that it is  negotiating with Panamanian companies interested in selling food and commodities that can go into the country duty free.

The government says  that it has $100 million available to buy more than 1,000 tons of food products, “… including canned tuna, tomato sauce, mayonnaise, pasta, wheat flour, rice, lentils, black beans, margarine, oatmeal, coffee, powdered milk and canned meat. “

Personal hygiene products to be requested include shaving razors, sanitary towels, soap, toilet paper, toothpaste, shampoo and deodorant.

Deputy Minister of Domestic Trade in Venezuela, Urbáez Renier said that “… ‘As soon as we have analyzed the profile of companies that are financially solvent, have acceptable prices and can guarantee shipping logistics, we will be signing the contract and making a down payment,” the official said noting that they hope that as soon as the purchase order is finalized, the products will reach the Venezuelan territory within a period not exceeding three weeks and will enter exempt from tariffs in that country.”

“… Urbáez explained that so far more than six Panamanian companies have expressed interest in participating in this first round of negotiations for direct purchases and they expect to finalize contracts this week ” reports CentralAmericaData

http://www.newsroompanama.com/news/panama/venezuela-aims-100-million-panama-food

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  • 2 weeks later...
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Panama and Food Sales to Venezuela

In the first round of negotiations the Venezuelan government bought $46 million worth of food and hygiene products from five Panamanian companies and plans to increase purchases in the coming months.  

Monday, August 1, 2016

The total volume of foodstuffs, personal hygiene products and agricultural raw materials purchased by the Venezuelan government from companies in Panama amounts to 160 thousand tons.

See: "Venezuela Takes $100 million to Panama to Buy Food"

"... The Minister of Industry and Commerce of that country, Miguel Perez Abad, said that the agreement to purchase goods and supplies was signed by the governments of both countries, as well as companies, and allows Venezuela to import products to cover basic needs and for Panama to respond reciprocally with the purchase of some products manufactured in the South American country. "

"... The official explained that ... 'This is the first business negotiation, so to speak, but we hope it is the start of fluid and reciprocal trade between the two countries. The proposal is that if Venezuela buys 100 million dollars in products from Panamanian companies, Panama can also buy non-traditional export goods manufactured in Venezuela. ' "

Source: Prensa.com

http://www.centralamericadata.com/en/article/main/Panama_and_Food_Sales_to_Venezuela

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