National Corn Grower representatives just got back from a trip to Cuba. They say easing trade restrictions with Cuba should be a key U.S. trade priority going forward. NCGA Trade Policy and Biotech committee chairman, John Linder, says U.S. corn trade to Cuba peaked in 2008, at 800,000 metric tons. He says that now down to 200,000 metric tons, but easing restrictions would get that back up.
Linder says Argentina and Brazil have taken advantage of that and are gaining market share with Cuba. He says the U.S. Congress needs to lift the embargo, which would lead to more two way trade.
Linder says Cuba has the potential to be the 12th largest market for U.S. corn, but that market share has been hampered by financial restrictions. Lifting the embargo would open markets and give the U.S. the ability to compete for Cuba’s business.
