ANNOUNCED AS TEMPORARYNo
On 21 April 2014, the Ministry for Agriculture adopted DM/No. 023/2014 which introduces a subsidy of Bs. 4.70per kg (USD 0.75per kg, as of 4 May 2014) on the rice between 1 January 2014 to 30 July 2014. Compared to the last subsidy on rice, this one represents an increase of USD 0.41per kg (see 'Related Measures'). This subsidy to domestic producers disadvantages foreign rice suppliers that are or seek to supply customers in Venezuela.
The measure has a retroactive effect, i.e. it took effect on 1 January 2014.
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