The decade-long severe economic crisis in Venezuela has left an overwhelming majority of its citizens experiencing food insecurity. A survey conducted by the Venezuelan Observatory of Food Security and Nutrition (OVSAN) shows that only 9% of households in Venezuela can afford to buy enough food to feed their families and meet the cost of essential non-food needs at the same time.
The study shows that 69.1% of households have marginal food security which means that their income allows them to meet only minimal food needs and they have to regularly neglect other basic needs, such as education or healthcare, to be able to ensure this minimum. At the same time, 17.3% of households live in moderate food insecurity while 4.3% experience severe food insecurity.
The survey was conducted among 6,600 people from 2,041 households located in all 23 Venezuelan states and one capital district from December 2020 to February 2021 with 1,023 being urban households and 1,018 in rural locations.
Venezuela is affected by food insecurity and poverty triggered by the protracted economic crisis. The UN World Food Programme estimates that one in three Venezuelans suffers from hunger which means that 9.3 million people do not have sufficient food to meet minimum nutritional requirements. Venezuela has almost 29 million inhabitants, 5 million of whom have fled the country.
The latest Misery Index compiled by the US-based think-tank, the CATO Institute, has ranked Venezuela at the top of the list of the most economically miserable countries for the fifth consecutive year. According to the Central Bank of Venezuela, the country’s spiraling inflation reached 2,960% in December 2020 after standing at 1,937% in October 2020. Last March, the Central Bank issued a 1 million bolivar banknote which was worth about half a US dollar.
