U.S. Ag Sales to Cuba Continue to Slide
Press Release by Issuing Company
Tuesday, August 17th, 2010
Just as Congress is working on legislation to make it easier to export agricultural products to Cuba comes word sales to the island-nation have steadily declined over the past few years. The U.S.-Cuba Trade and Economic Council says for the first six months of 2010, U.S. agricultural and food exports to the Republic of Cuba were down 28 percent compared to the same period in 2009. That is on top of a 26 percent decline from 2008. Reports are the global economic downturn has been especially hard on Cuba and the country has tried to reduce imports.
The Council says one of the reasons for the decline in U.S. sales is competitors are giving the Castro government much better terms and conditions including some barter. Havana also likes to buy from government-controlled entities “which provide more favorable payment terms and less publicity when those payment terms are not honored.” Something they say is happening more often as Cuba is not able to generate a lot of foreign exchange.
by Bob Meyer







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