US blockade cost Cuban agriculture over 260 million dollars in 1 year

From April 2016 to March last, the economic, commercial and financial blockade imposed by the United States on Cuba caused economic damages to the agricultural sector amounting to more than 260 million dollars.

Juan José León, the main specialist in International Relations of the Ministry of Agriculture (Minag), reported today at a press conference that the Tobacco Business Groups of Cuba (Tabacuba) and Labiofam suffered losses than amount to some 90 percent of the damages.

He pointed out that, as in the past year, revenues from exports of goods and services were affected, while losses were also quantified by geographic relocation of trade.

Due to the prohibition of access to the North American market, Empresa Cítricos Caribe S.A., for example, was unable to sell the MD2 pineapple variety to the US, the largest importer of the fruit internationally.

In the case of Tabacuba, estimates indicate that to be able to commercialize with that northern country would reach a total sales of 50 million cigars, with a progressive increase during 10 to 15 years until reaching 180 million units.

According to the data presented by the Minag in the period indicated, Labiofam was unable to market Vidatox 30CH, homeopathic bio therapeutic drug for patients with advanced tumors, which generates economic losses for Cuba and limits the access of American patients to such product.

The entry into force on February 10 of a new rule limiting the list of containers operated by the Mediterranean Shiping Company (MSC), which can be used in traffic to and from this country, affects the same way the development of exports, the text reads.

Another effect in the sector is the increase in the commercial operation due to the increase in freight and transshipment costs, as well as the transit times of the goods in transit (25 days on average), due to the validity of the Torricelli Law.

In addition, the prohibition of commercial or financial transactions in US dollars causes the negotiations to be carried out in other currencies, mainly in Euros, with prices set depending on the prevailing exchange rate at that time.

Cuba will present the 1st. November, once again before the General Assembly of the United Nations, the draft resolution “Need to end the economic, commercial and financial blockade imposed by the United States Government against Cuba”, an initiative that since 1992 has received in that forum a categorical support. (ACN)

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