Sunday, November 23, 2008

Trade group: US ag exports to Cuba hit record

Trade group: US ag exports to Cuba hit record

Nov 15, 2008

HAVANA (AP) — A U.S.-Cuba trade group says the island has spent a record
$536 million for American agriculture goods through the third quarter,
already surpassing all annual amounts since 2001.

The U.S. Trade and Economic Council says that most of the growth is
because of price increases, and not quantities. The council released the
figures Friday.

Washington's nearly 50-year-old trade embargo prohibits nearly all trade
between both countries, but Cuba has been allowed to buy U.S. food and
agricultural products with cash payments since 2000. Cuba began taking
advantage of the loophole in the American trade sanctions after a
hurricane ravaged parts of the island in November 2001.

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