Falling sugar production in Cuba; impact on the rum industry

Published 2024년 5월 17일

Tridge summary

Cuba is facing a severe sugar production crisis, producing only 71% of its target, leading to the need to import sugar. This shortfall is expected to impact various industries including rum, soft drinks, and pharmaceuticals. The decline in sugar production is part of a larger problem as Cuba's agricultural and industrial production has dropped by over 50% since 2019 due to US sanctions and the Covid-19 pandemic, causing an economic crisis.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Official reports and rum industry sources warn of the imminent need for Cuba to import sugar as national production faces a historic drop, reaching the lowest level of tonnes since 1900. This decline puts additional pressure on domestic industries, including of rum, soft drinks and pharmaceutical products. According to Cuban President Miguel Díaz-Canel, state industry achieved just 71% of the production target of 412,000 tons, totaling just under 300,000 tons. With the onset of hot, humid weather and summer rains in May, sugar production is expected to decline further, even with some mills remaining in operation. Cuban economist Omar Everleny emphasizes that this reduction in production means the imminent need to import sugar. Furthermore, the sugar shortage will have a direct impact on the availability of syrup and alcohol for several industries, including rum production. Cuba, once the world's largest sugar exporter, now faces significant challenges in its agricultural and ...

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