News and Facts about Cuba

U.S. food exports to Cuba drop 37 pct.

U.S. exports to Cuba drop 37 pct.
Published August 10, 2015 EFE

Exports of food products from the U.S. to Cuba dropped 37 percent in the
first six months of 2015, despite the restoration of diplomatic
relations between Havana and Washington, a new report by the U.S.-Cuba
Trade and Economic Council said Monday.

The total value of U.S. exports to the island in the first half of 2015
was roughly $119 million.

Topping the list of food exports was frozen chicken with 50 percent,
followed by soybean oil with 25 percent and soy flour with 9 percent.

The council noted that one reason for the decline has been the
“restoration or continuation” of Cuban trade relations with the
governments of Brazil, Argentina, , Mexico and , among others.

It also attributed the trend to the “financial generosity” of the
Chinese government, Havana’s preference for buying products from
government agencies that offer more favorable terms of payment, and the
Cuban government’s shortage of hard currency.

Meanwhile, Arkansas Gov. Asa Hutchinson will next month to Cuba,
making him the first U.S. governor to visit the island since diplomatic
relations between the United States and Cuba were restored in July.

Arkansas is one of the leading states exporting farm products to Cuba,
chiefly chicken, and now seeks to boost its sales to the Caribbean
island.

“As they expand their markets and their opportunities, which is
going to happen in the coming years, there’s going to be more demand for
rice. Arkansas needs to be there at the table and be No. 1 in exports to
Cuba and other global markets,” Hutchinson, a Republican, said during
the Arkansas Rice Expo in Stuttgart, Arkansas. EFE

Source: U.S. food exports to Cuba drop 37 pct. | Fox News Latino –
http://latino.foxnews.com/latino/politics/2015/08/10/us-food-exports-to-cuba-drop-37-pct/

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