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US Remain Chief Food Exporter to Cuba
Jun 19, 2007

In importing food and agricultural goods from America, Cuba has exhausted $108 million till this month.

In importing food and agricultural goods from America, Cuba has exhausted $108 million till this month and expenditure would have been higher if 45 year old Washington prohibition had not been there, as stated by top official on 27TH March 2007.

Pedro Alvarez, director of the island's food import company, Alimport, made the comments as he signed agreements to purchase an additional $15.75 million worth of wheat and pork from Nebraska producers. He said that Cuba spent $560 million on US food and agricultural products last year, and more than $2.2 billion since December 2001, in news published on BusinessWeek.

The US-Cuba Trade and Economic Council accounted, based on US government export data, that Cuba ranks 34 out of 227 agricultural product export marketplace because of imported stuff of value $340.4 million last year. It’s a trivial plunge in US exports to Cuba from $350 million in 2005 and $392 million in 2004. Since their beginning five years ago (when export to Cuba started), total export has become more than $1.5 billion. Above 70% of exports to Cuba in year 2006 was of chicken, Wheat, rice, soy, and corn products, following a parallel trend in preceding years.

After initiation of export from US in 2001, Cuba is actively purchasing food from US. Regardless of Bush administration's unfriendliness toward Havana, Cuba is still buying more food from US because they have excess money to spend.

As a result of stabilized trade dealings with Vietnam and constant trade with Russia and China, Cuba is also getting additional support of America for medicines and food. Other positive changes for US agriculture in terms of joint ventures or contract arrangement among Cuban farming procedures and US firms may be created by changes in US-Cuba trade policy.

As per the research analyst at
RNCOS, among the Caribbean nations, Cuba is the largest and the most economically viable country. The unrealized wealth of Cuba is because of its optimally utilized natural and human resources that make it perfect trading partner for US. Furthermore, the revenue and employment created by exporting to Cuba is an economic benefit to US.

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