Russian Businessman Grows Cocoa in Venezuela Amid Market Shifts

St. Petersburg entrepreneur Vladimir Skarzov, who grows cocoa in Venezuela and supplies it to Russia, told Fontanka about how he works there after U.S. authorities seized Nicolás Maduro and what threats to his business seem most pressing.

Background

In St. Petersburg, Vladimir Skarzov was a co-owner of a residential property management and operations company until 2013. Around the same time, he organized a small tourism firm in Venezuela. A bit later, the entrepreneur founded the company «Ruscacao,» which grows cocoa beans in the Monagas state of Venezuela. There, they are processed and supplied to St. Petersburg, where chocolate production is established.

— Vladimir, what is the current situation on the cocoa bean market, what about cocoa prices?

— Currently, cocoa bean prices are determined by the phenomenon known as El Niño. This is a phenomenon where the equatorial part of the Pacific Ocean becomes several degrees warmer than usual and then — cooler than usual. This occurs every 2–7 years and affects the climate in various parts of the world, including South America.

The climate is unstable, because of this soil solarization (a pest control method that uses solar energy to raise soil temperature) also becomes unstable, drought is possible, which affects the volume of cocoa bean cultivation and price fluctuations. In 2024–2025, there was a reduction in harvest, and cocoa beans of the fino de aroma category (high-quality beans with a complex balanced flavor without defects, grown in Venezuela, Colombia, Peru) cost $12 per kilogram. That was absurdly high. Now the price is closer to reality, it is about $4.5 per kilo. This is a comfortable figure for all market participants.

— How else has the reduction in cocoa harvest affected the market?

— When prices were at their peak last year, some producers started replacing the core of the cocoa bean with its husk. Previously, it only went for processing for livestock, but now it has started getting into products for humans. It is completely harmless to health, but the quality of the product clearly becomes lower. Essentially, we began sliding from real cocoa to its substitutes.

— You haven«t slid in that direction?

— No! Especially since we have our own plantations in Venezuela, and we are perhaps the only Russian company in the country that is not reselling cocoa but growing it. By the way, we are increasing plantation areas and in the near future will already be fully self-sufficient with our own raw materials.

Cocoa bean production in 2024 was up to 4.37 million tons, and consumption remained at 4.87 million tons. In spring 2025, cocoa bean prices jumped to $10–12 thousand per ton, in summer they dropped to $8 thousand per ton amid talks of favorable weather in West Africa. In autumn last year, cocoa beans cheapened to $7 thousand per ton. Now prices have fallen to $4 thousand per ton due to the fact that the harvest in 2025–2026 will be larger than in previous years.

The largest cocoa bean plantations are in Côte d«Ivoire, Ghana, Cameroon, Nigeria. These four countries account for 75% of global production. Venezuela produces about 30 thousand tons of cocoa beans and is not among the leaders in this segment.

— Is the process of growing cocoa beans changing in any way, including due to climate changes?

— Yes, now territories that were well-suited for growing cocoa even about ten years ago have become too hot for this plant. Therefore, gradually cocoa plantations are moving higher into the mountains, where, by the way, coffee is traditionally grown. Previously, these two crops did not overlap in locations, but due to climate change, we are now coming to this.

— What does the further expansion of your plantations and the development of your business in Venezuela depend on?

— First and foremost, of course, on the political situation in the country. All industry participants (and not only them) are in anticipation.

— Has the political crisis somehow affected your business and the segment in general?

— No, everything is stable.

— Are there any difficulties with cargo transportation?

— As of today, no.

On 3 January, a U.S. military operation took place in Venezuela, during which the country«s president Nicolás Maduro and his wife Cilia Flores were captured. They were charged with narco-terrorism. But neither Maduro nor his wife admitted guilt. Vice President Delcy Rodríguez became the acting president of Venezuela.

U.S. President Donald Trump stated that Venezuela transferred 30 million barrels of oil worth about $4 billion to the United States. Some American oil companies, according to Trump«s estimate, will have to invest hundreds of millions of dollars in Venezuela. At the same time, Washington will allow some Venezuelan companies to enter the American market.

— What volume of cargo do you supply from Venezuela?

— In 2025, we supplied about 500 tons of various products from Venezuela to Russia.

— And what are the expectations, assumptions, rumors?

— Even if the country comes under total U.S. control, I hope such changes will not affect the growing of coffee and cocoa at all. Of course, trading coffee and cocoa is only a minor part of the country«s economy, the main thing is oil, and the main changes will be there. But I think it»s good that Venezuela is known not only as an oil pump but also as a producer of coffee and cocoa. So there is great hope that this sector will work stably and without significant changes.

— What would you advise a Russian entrepreneur who wants to start a business in Venezuela?

— That it«s still not worth investing in this country now. And no one will now. And isn»t even thinking about it. Only those entrepreneurs who have been in Venezuela for more than a year remain working.

— Still, can we expect any changes in the regulation of the agricultural sector in Venezuela?

— The current policy on preserving varietal uniformity of cocoa did not allow changes to genetic material, this was enshrined in law. The previous Venezuelan authorities decided that hybrid varieties of cocoa would not be grown in the country, and consistently pursued such a policy. Therefore, to this day, the country grows cocoa varieties untouched by mutations, for example, Criollo.

However, now, considering the change in power, it can be expected that Venezuelan cocoa will not remain the ideal it was until recently.

I assume that in the foreseeable future, various hybrid varieties will be permitted in Venezuela because they yield more harvest and are more resistant to various diseases. The transition to hybrids has already occurred in Ecuador, Peru. I fear we may lose the original form of Venezuelan cocoa, since hybrid plants are easier and more economically beneficial to grow.

— You don«t plan to wind down your business in Venezuela in connection with such possible changes?

— No, of course not, and we will continue to grow only Venezuelan cocoa varieties, despite it being a more labor-intensive process compared to growing hybrids. Venezuelan cocoa trees grow for 3–4 years before bearing fruit, hybrids — 2 years.

— How is work structured on your plantations?

— The harvest is collected approximately from October to March. At the same time, the main supply contracts are concluded.

— When do you plan to return to St. Petersburg?

— Not before March. As I said, the main work is happening now. Cocoa isn«t enough to just pick from the branch. It also needs to be fermented, dried (with humidity less than 7%), prepared for shipment, laid out with cloth so that our buyers receive a truly exclusive high-quality product. That»s the kind of work.

— What other sectors of the economy could develop in Venezuela after the political crisis is resolved?

— Probably tourism, and it is already actively developing here. There«s a wonderful climate, practically no rainy season, sunshine all the time. That is, Venezuela could be quite interesting for Russians. For tourism development, it»s especially good that the previous country leadership successfully solved the problem of banditry in Venezuela.

— Could the situation with banditry change in the near future, given that the previous government is gone?

— Time will tell.

— Are there any problems now with flying from Russia to Venezuela and back?

— No, everything works clearly, but only Venezuelan carriers handle flights. Although it would be logical for Russian airlines to master this route as well.