US Food/AG Exports To Cuba Increase 664%, But Remain Off 10% Thus Far In 2016
/ECONOMIC EYE ON CUBA©
October 2016
July Food/Ag Exports Increased 664%- 1
Decreased 10% For First Eight Months Of 2016- 1
Healthcare Product Exports- 2
Humanitarian Donations- 2
American Airlines Imports Equipment To Cuba From Jamaica- 13
U.S. Port Export Data- 13
Updated Speaking Schedule- 15
August FOOD/AG EXPORTS INCREASED 664%- Exports of food products & agricultural commodities from the United States to the Republic of Cuba in August 2016 were US$17,227,971.00 compared to US$2,254,957.00 in August 2015 and US$14,369,461.00 in August 2014.
Exports in August 2016 consisted of poultry, corn, soybeans, cookies, beer, and chocolate.
An outbreak of Avian Flu had restricted United States poultry exports to the Republic of Cuba in 2015. In June 2015, July 2015, and September 2015, Republic of Cuba government-operated Empresa Cubana Importadora Alimentos (Alimport), under the auspice of the Ministry of Foreign Trade of Cuba (MINCEX), used a credit facility to purchase frozen poultry from Brazil. Poultry prices were high in 2014, low in 2015 and are expected to remain low throughout 2016. Alimport is expected to purchase between 8,400 metric tons and 12,000 metric tons of frozen poultry per month from United States-based companies in 2016.
The Trade Sanctions Reform and Export Enhancement Act (TSREEA) of 2000 re-authorized the direct commercial (on a cash basis) export of food products (including branded food products) and agricultural products (commodities) from the United States to the Republic of Cuba, irrespective of purpose. The TSREEA does not include healthcare products, which remain authorized by Cuban Democracy Act (CDA) of 1992.
Total exports since December 2001 from the United States to the Republic of Cuba under provisions of the TSREEA are US$5,219,556,384.00
