Farm leaders representing U.S. sorghum and corn producers held a news conference at the 2016 Commodity Classic to discuss reforms that still need to be made as the trade barriers between the U.S. and Cuba are removed.
Various figures suggest the remaining trade restrictions have significantly impacted U.S. grain farmers.
During the 2015 marketing year, approximately $4 million out of the $160 million of corn that was sold in Cuba was originally sourced from the U.S. Unfortunately, U.S. farmers lost approximately $240 million in business to competing countries.
Trade provides an opportunity to eliminate financial and political differences between the U.S. and Cuba. Additionally, establishing trade relations with Cuba, which receives financing from state checkoff organizations, could encourage near-term sales and lead to growth in long-term demand.
Among the most significant needs for market development in Cuba are education about grain storage and handling, and production technology with livestock. Along these lines, representatives from the U.S. Grains Council could be crucial to developing trade relations between the two nations.