By Kristin Danley-Greiner. AgWeb.com. August 31, 2000
If U.S. economic sanctions on Cuba are eased, and if the island nation has access to funds for imports, Cuba might buy $300 to $500 million worth of U.S. farm goods.
"We could see the Cuban market climb to maybe $300 million to $500 million in a year or two, and maybe even more over the long term," said Gerald Bange, head of the U.S. Department of Agriculture’s World Agricultural Outlook Board.
Bange explained that the market project depends upon the U.S. taking action to relax its 40-year-old embargo against Cuba, as well as whether Cuba can obtain access to export credits or other financing in order to purchase U.S. farm goods.
Congress, which returns to work next week after its August recess, is expected to vote to approve the landmark change in U.S. sanctions policy. However, it is unclear whether the final legislation will allow any U.S. government or private financing of food sales.
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