Cuba is likely to have to import sugar

Published 2024년 5월 10일

Tridge summary

Cuba is experiencing its lowest sugar harvest in over a century, producing only 71% of the planned sugar production, leading to a significant shortage. This shortfall is impacting various industries, including rum, soft drinks, and pharmaceuticals, as production of sugarcane-based alcohol, a crucial ingredient, has decreased by over 50% since 2019. Factors such as hot weather, summer rains, new US sanctions, and the Covid-19 pandemic have contributed to this crisis, which has led to a 46% increase in the price of domestic rum and ongoing economic challenges.

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Original content

A recently released report by the Cuban government said the country's sugar harvest is ending at its lowest level since 1900, forcing the government to import. The situation also puts pressure on the domestic rum, soft drink and pharmaceutical industries. Cuban President Miguel Diaz-Canel said at the end of April 2024, the country's sugarcane industry had produced 71% (nearly 300,000 tons) of the planned 412,000 tons of sugar, and will complete it in November. May 2024. Sugarcane production in Cuba - Source: Getty Last harvest, Cuba produced 350,000 tons of sugar. Sugarcane output decreased sharply in May 2024 due to hot and humid weather along with summer rains. “This means we will have to import sugar and of course the lack of sugar also means there is less syrup and alcohol to supply to other industries and alcohol,” said Cuban economist Omar Everleny. rum.” Cuba used to be the world's leading sugar exporter, in 1989 it produced 8 million tons of raw sugar. According to data ...

Source: Voh