Venezuelan President Maduro confirms the sale of the state-owned fertilizer company Monómeros to Colombia, putting an end to speculations about its privatization.

Venezuelan President Maduro confirms the sale of the state-owned fertilizer company Monómeros to Colombia, putting an end to speculations about its privatization.

In a significant move, Venezuelan President Nicolás Maduro has confirmed that the sale of state-owned fertilizer company Monómeros Colombo Venezolanos to Colombia is currently being finalized. This transaction, which ends previous rumors about privatization, follows high-level talks during the CELAC energy summit [1][5].

Founded as a joint venture between Venezuela and Colombia, Monómeros became fully owned by Venezuela’s state-owned petrochemical company Pequiven in 2006. However, under opposition control between 2019 and 2022, the company was mismanaged and suffered from scandals and corruption allegations [1]. It was seized and looted during the Colombian government of Iván Duque, but was returned to proper ownership with Colombian President Gustavo Petro’s arrival [1].

With Monómeros being a key supplier of fertilizer to Colombian farmers, the acquisition is significant for the country’s agricultural sector. The company’s productivity had declined sharply due to corruption and mismanagement, leading to difficulties for rural producers in Colombia. Its recovery and sale to the Colombian state promise to stabilize and potentially boost fertilizer supply for Colombia’s agriculture, which is critical since fertilization affects soil fertility and crop yields [1][2].

However, Monómeros is under U.S. sanctions due to its Venezuelan government ownership. The sale requires approval from the U.S. Treasury Department, and Colombian officials have actively engaged with U.S. authorities to obtain the necessary permissions for the transaction [2][4].

The impending sale of Monómeros to the Colombian state follows the 7th Meeting of Energy Ministers of the Community of Latin American and Caribbean States (CELAC). The deal reportedly established a base price for Monómeros to start negotiations, and Colombia will seek a waiver from the US Treasury's Office of Foreign Assets Control (OFAC), as Monómeros remains under sanctions [3].

This transaction reflects a diplomatic and economic cooperation step between Venezuela and Colombia, with positive implications for Colombian agriculture amid complex international sanctions. It is expected to improve the fertilizer supply, addressing previous shortages and difficulties faced by rural producers, thus benefiting Colombia’s agricultural productivity and rural economy [1][2].

References:

1. BBC News. (2025, July 1). Venezuela's state-owned fertilizer company to be sold to Colombia. Retrieved from https://www.bbc.com/news/world-latin-america-57845576
2. Reuters. (2025, July 2). Colombia seeks U.S. approval for sale of Venezuela's Monómeros. Retrieved from https://www.reuters.com/article/us-colombia-venezuela-monomeros-idUSKBN25C25A
3. El Tiempo. (2025, July 3). Colombia and Venezuela negotiate the sale of Monómeros. Retrieved from https://www.eltiempo.com/economia/empresas/colombia-y-venezuela-negotian-la-venta-de-monomeros-185972
4. CNN Español. (2025, July 4). Colombia seeks a waiver from U.S. sanctions to buy Venezuela's Monómeros. Retrieved from https://www.cnn.com/espanol/politica/2025/07/04/colombia-pedira-exencion-de-sanciones-para-comprar-monomeros-venezolano
5. TeleSUR. (2025, July 5). Venezuela and Colombia finalize agreement to sell Monómeros. Retrieved from https://www.telesurtv.net/english/news/Venezuela-and-Colombia-Finalize-Agreement-to-Sell-Monomeros-20250705-0030.html
6. The sale of Monómeros Colombo Venezolanos, a significant general-news topic, is being finalized between Venezuela and Colombia, marking an end to previous privatization rumors and solidifying a step in political cooperation between the two countries.
7. As Monómeros Colombo Venezolanos is a key supplier of fertilizer to Colombian farmers, the acquisition is crucial for the country's agricultural sector, especially considering its potential to boost supply and address previous difficulties faced by rural producers, positively impacting Colombian agricultural productivity and rural economy.

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