Cuba can import sugar as rum industry comes under pressure from disastrous harvest

Published 2024년 5월 9일

Tridge summary

Cuba is experiencing its lowest sugar harvest since 1900, producing only 71% of the planned 412,000 metric tons, according to President Miguel Díaz-Canel. This shortfall is expected to impact the national rum, soft drink, and pharmaceutical industries, as importation of sugar will be necessary. The decline in sugar production is attributed to the combined effects of harsh US sanctions and the pandemic, which have crippled Cuba's economy, reducing the availability of necessary inputs such as fertilizer, fuel, and spare parts for mills.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

HAVANA (Reuters) - Cuba's sugar harvest is reaching its lowest level since 1900, forcing the government to import and put more pressure on the national rum, soft drink and pharmaceutical industries, according to official reports, two economists and a rum industry source. Cuban President Miguel Díaz-Canel said in late April that the state industry had produced 71% of the planned 412,000 metric tons, or just under 300,000 metric tons, and would continue manufacturing through May. Cuba produced 350,000 metric tons last harvest and, although some mills remain open, yields fall sharply in May as hot, humid weather sets in accompanied by summer rains. "This means that we will have to import and, of course, less sugar means that there will be less syrup and alcohol for various industries and, of course, rum," said Cuban economist Omar Everleny. The Caribbean nation was once the world's top sugar exporter, producing 8 million tonnes of raw sugar in 1989 before the collapse of its former ...

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