Cubana Operational Issues May Provide Intra-Cuba Opportunities For U.S. Airlines

On Friday, 18 May 2018 a thirty-nine-year-old Boeing 737 aircraft leased by Republic of Cuba government-operated Cubana de Aviacion (Cubana) from Celaya, Guanajuato, Mexico-based Damojh Aerolineas S.A. de C.V. crashed, killing 110 of 113 passengers.  The crew, all of whom died, was provided by Damojh Aerolineas S.A. de C.V.

This event may create impetus for Cubana and United States-based airlines (American Airlines, Delta Air Lines, Jet Blue Airways, Southwest Airlines, and United Airlines among others) to seek approval, if required, from the United States Department of Transportation (USDOT) and/or Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury and/or United States Department of Commerce (USDOC) for United States-based airlines to a) lease aircraft (with or without repainting) to Cubana and/or b) offer aircraft to code-share with Cubana for intra-Republic of Cuba routes. 

Either action would provide increased safety, increased frequency, and increased connective opportunity for Republic of Cuba nationals to travel throughout the country and authorized travelers originating in the United States. 

For example, Miami-Havana-Santiago de Cuba-Havana-Miami.  Miami-Havana-Holguin-Havana-Miami.  Ft. Lauderdale-Havana-Camaguey-Havana-Ft. Lauderdale.  Tampa-Havana-Cienfuegos-Havana-Tampa.  

From the USDOT:

In January 2016, EAR Section 746.2 (15 CFR § 746.2) was amended by revising paragraphs (b)(2) and (b)(2)(v) to read as follows:  (b)(2) Exports and re-exports that generally will be approved. Applications for licenses to export or re-export the following generally will be approved:  (b)(2)(v) Items necessary to ensure the safety of civil aviation and the safe operation of commercial aircraft engaged in international air transportation, including the export or re-export of such aircraft leased to state-owned enterprises.

On February 16, 2016, the United States and Cuba signed a Memorandum of Understanding (MOU) that will allow for the resumption of scheduled air services between the United States and Cuba. For scheduled combination or all-cargo services to and from Havana, under the terms of the MOU, U.S. carriers may operate up to twenty (20) daily round-trip frequencies. For scheduled combination or all-cargo services to and from each of the other nine (9) international airports in Cuba, U.S. carriers may operate up to ten (10) daily round-trip frequencies, for a total of ninety (90) daily non-Havana U.S.-Cuba round-trip frequencies.1 The MOU also allows for unlimited charter services to and from any point in Cuba, in accordance with the regulations of each country.2 This proceeding accordingly will not address charter services. Its sole focus will be on the allocation of scheduled service frequencies.

1 The nine airports, other than Havana’s José Marti International Airport (HAV), that are authorized for international services are: the Ignacio Agramonte International Airport in Camagüey (CMW); the Jardines del Rey Airport in Cayo Coco (CCC); the Vilo Acuña Airport in Cayo Largo (CYO); the Jaime González Airport in Cienfuegos (CFG); the Frank País Airport in Holguín (HOG); the Sierra Maestra Airport in Manzanillo (MZO); the Juan Gualberto Gómez Airport in Matanzas (VRA); the Abel Santamaría Airport in Santa Clara (SNU); and the Antonio Maceo Airport in Santiago de Cuba (SCU). 

2 The MOU does not place limits on the number of carriers that may provide U.S.-Cuba services, nor does it limit aircraft capacity for scheduled or charter services.  

LINK TO COMPLETE TEXT OF 2016 MEMORANDUM OF UNDERSTANDING

PBS NewsHour Continues Depersonalization Of U.S.-Cuba Relationship

On Friday, 18 May 2018, during the PBS NewsHour "News Wrap" segment, anchor Ms. Judy Woodruff mentioned the crash of a Boeing 737 aircraft leased by Republic of Cuba government-operated Cubana de Aviacion from Celaya, Guanajuato, Mexico-based Damojh Aerolineas S.A. de C.V.

Significant is Ms. Woodruff not referencing the name of the President of the Republic of Cuba, Miguel Diaz-Canel, who was inaugurated on 19 April 2018.  President Diaz-Canel is the successor to H.E. General Raul Castro.

Not mentioning the name of the president of the Republic of Cuba represents a continuing depersonalization of the relationship between the United States and the Republic of Cuba.

JUDY WOODRUFF:

"In the day’s other news: A Cuban passenger plane crashed shortly after takeoff today, killing over 100 people on board. State media reported that the three survivors were in critical condition. The Boeing 737 was headed toward the eastern city of Holguin, when it plummeted into a field just outside Havana.

Cuba’s president visited the scene and said officials would investigate the cause."

UK Cautions: "Take care in central Havana at night. Use a taxi rather than walk, even if you’re only a few blocks away from your destination."

On 18 May 2018, the Government of the United Kingdom issued an updated Travel Advice for the Republic of Cuba.

The Travel Advice included the following passage:

"Car-related crime and muggings occur from time to time, not only in Havana but also in Santiago de Cuba and other areas. Take care in central Havana at night. Use a taxi rather than walk, even if you’re only a few blocks away from your destination. There have been attacks on foreigners in hire cars after their tyres have been deliberately punctured. If you get a puncture in a remote area, drive on to a town before stopping. Don’t stop for hitch-hikers as they’ve also been known to carry out attacks."

The complete Travel Advice:

https://www.gov.uk/foreign-travel-advice/cuba

32nd Hotel On Conde Nast Traveler Magazine's "The Hot List" Is In Havana

In the May/June 2018 issue of Conde Nast Traveler Magazine, "The Hot List- What's Hot Now" contains 102 properties from throughout the world.

The 32nd listed property is the Gran Hotel Manzana Kempinski in Havana, Republic of Cuba, which opened in 2017.

Geneva, Switzerland-based Kempinski Hotels SA has a management contract with Republic of Cuba government-operated Gaviota SA., controlled by Republic of Cuba government-operated Grupo de Administracion Empresarial S.A. (Enterprise Management Group), or GAESA, which is, in turn, controlled by the Revolutionary Armed Forces of the Republic of Cuba (FAR).  

Kempinski Hotels SA operates seventy-five (75) five-star properties in thirty (30) countries.  The Bangkok, Thailand-based Thailand Crown Property Bureau has a majority shareholding in Kempinski AG, which owns Kempinski Hotels SA.

From the Kempinski Hotels Internet site: "Originally built between 1894 and 1917 as the first European style shopping arcade in Cuba, Gran Hotel Kempinski Manzana La Habana is situated in the heart of the old Havana with a direct view of the Capitol and the Great Theatre of Havana and amidst UNESCO World Heritage sites. The famous Castillo del Morro is accessible within a 10 minute drive. Experience the first true luxury hotel in Cuba and indulge yourself while staying in one of our 246 large rooms or suites with extra high ceilings and French windows opening out to the old city. Experience a variety of restaurants and bars, which also includes a one of a kind cigar lounge and a roof top Panoramic Restaurant and Bar with spectacular views over the old city. Relax in our spa, fitness center and rooftop pool."

Link To Previous Blog Post:

https://www.cubatrade.org/blog/2017/4/29/cubas-1st-potentially-five-star-aaa-diamond-property-kempinski-manzana-la-habana-welcoming-guests-on-9-june-2017?rq=Kempinski

Vice President Pence Mentions Cuba In Remarks To OAS

THE WHITE HOUSE
Office of the Vice President
For Immediate Release
May 7, 2018

REMARKS BY VICE PRESIDENT PENCE DURING A PROTOCOLARY MEETING AT THE ORGANIZATION OF AMERICAN STATES

Organization of American States
Washington, D.C.

Excerpts.......

THE VICE PRESIDENT:  Ambassador Gonzalez, Secretary General Almagro, Ambassador Trujillo, permanent representatives, distinguished members of Congress, ambassadors, all of our honored guests, it is my great honor to be here in the House of the Americas to address this session of the Organization of American States.  Thank you for the honor of being with you today.  (Applause.)

And I bring greetings first and foremost from a great champion of security, prosperity, and freedom in the Western Hemisphere.  I bring greetings from the 45th President of the United States of America, President Donald Trump.  (Applause.)

I’m here today because the Western Hemisphere is a key priority of our administration and our country.  Under President Trump, the United States will always put the security and prosperity of America first.  But America first does not mean America alone.

Our nation has always cared deeply about our neighbors across the Western Hemisphere.  This region is filled with diverse cultures, distinctive traditions, and unique identities beyond number, but we are all bound together by geography, by history, and by the enduring aspiration for freedom.

Ours was always meant to be a hemisphere of freedom, and that vision is why the Organization of American States exists.

One week ago today, this body celebrated the 70th anniversary of its founding, when 21 nations from across the Western Hemisphere declared to the world, and I quote, “that the historic mission of America is to offer a land of liberty.”  And that vision endures to this very day.

Today, this institution essentially represents our entire Western Hemisphere.  And the United States is proud -- proud to stand with the OAS.  And we're especially grateful for the principled leadership of Secretary General Almagro.  Thank you for your outstanding words today.  

Yet even as we celebrate this exercise in freedom, the dark cloud of tyranny still hangs heavy over too many of our neighbors in this hemisphere.

In Cuba, the longest-surviving dictatorship in the Western Hemisphere still clings to power.  For nearly 60 years, the Castro family systematically sapped the wealth of a great nation and of the Cuban people.  While the Castro name is now fading, the oppression and police state they imposed is as powerful as ever.

Today, the United States once again stands with the Cuban people in their stand for freedom.  No longer will our dollars fund Cuba’s military, security, and intelligence services -- the core of that regime.  And in this administration, we will stand and we will always say, "Que Viva Cuba Libre."  (Applause.)

But Cuba’s leaders have never been content to stifle just their own people’s freedom.  For generations, that communist regime has sought to export its failed ideology across the wider region.  And today, the seeds of Cuban tyranny are bearing fruit in Nicaragua and Venezuela.

President Trump Can Help Offset China’s Decrease In Soybean & Corn Imports With One OFAC License

President Trump Can Help Offset China’s Decrease In Soybean & Corn Imports 

CEO of Home BancShares In Arkansas Has A Key To Unlock Potential

US$1.4 Billion In Soy Products & US$1.1 Billion In Corn Purchased Under TSREEA

One OFAC License Could Increase Exports

In 2018, China Imports Have Decreased 15.5%; Cuba’s Imports Have Increased 20.8%

One Governor, Two Senators, Four Members Of The House Of Representatives

On 4 May 2018, The Honorable Donald J. Trump, President of the United States, was quoted as saying: “My people are coming back right now from China, and we will be doing something, one way or the other, with respect to what's happening in China.  And let me say this:  I have great respect for President Xi.  That's why we're being so nice.  And we have a great relationship.  But we must bring fairness into trade between the U.S. and China.  And we'll do it.”

On 5 May 2018, The Wall Street Journal reported that exports of soybeans and corn from the United States to the People’s Republic of China had substantially decreased.  According to The Honorable Charles Grassley (R- Iowa), a member of the United States Senate, “If [the Chinese] market closes, it could be devastating for local communities across the Midwest.”  

Increasing the export of soybeans and corn, and other agricultural commodities and food products, from the United States to the Republic of Cuba would not be a panacea, but could be a material offset with no risk to United States taxpayers because United States law requires payment of cash-in-advance for deliveries of agricultural commodities and food products from the United States to the Republic of Cuba.  The law does not need to be altered for exports to increase.

President Trump could take immense satisfaction from using rational commercial logic to correct simple commercial arithmetic that escaped comprehension of the Obama Administration: When export opportunities exist, assist and do no harm.  And, if there are two parts to create success, don’t authorize one part and then self-congratulate for not authorizing the other part.  President Trump would certainly concur that’s a terrible deal.

Since December 2001, when the first deliveries from the United States to the Republic of Cuba commenced under provisions of the Trade Sanctions Reform and Export Enhancement Act (TSREEA) of 2000, the Republic of Cuba has purchased, on a cash-in-advance basis, more than US$5.6 billion in agricultural commodities and food products from United States companies.  

In 2017, the Republic of Cuba ranked 53rd amongst 229 agricultural commodity and food export markets for United States companies according to the United States Department of Commerce; ahead of Poland, Jordan, Argentina, Russia, Qatar and Greece among others.  

Thus far in 2018, the Republic of Cuba maintains that ranking with 2017-to-2018 exports having increased 20.8% while exports from the United States to the People’s Republic of China have decreased 15.5% according to the United States Department of Commerce.

During the last seventeen (17) years, the Republic of Cuba has purchased approximately US$1.4 billion in soybean products: more than US$621 million in soybeans, more than US$531 million in soybean oil cake, and more than US$245 million in soybean oil.

Thus far in 2018, the Republic of Cuba has purchased approximately US$15 million in soybeans and soybean oil, compared with US$8,493,537.00 (soybeans; no soybean oil) during the same period in 2017.  That is a 76.6% increase.

Soybean products represent approximately 25% of all agricultural commodities and food products exported from the United States to the Republic of Cuba since December 2001.

During the last seventeen (17) years, the Republic of Cuba has purchased approximately US$1.15 billion in corn.

Thus far in 2018, the Republic of Cuba has purchased approximately US$9.4 million in corn, compared with US$14,462,001.00 during the same period in 2017.  That is a 53.8% decrease.

Corn represents approximately 20% of all agricultural commodities and food products exported from the United States to the Republic of Cuba since December 2001.

To assist towards increasing agricultural commodity and food product exports, along with other authorized exports (agricultural machinery and farm implements, for example), Conway, Arkansas-based Home BancShares (2018 assets approximately US$14 billion), who through its Centennial Bank subsidiary purchased Pompano Beach, Florida-based Stonegate Bank in September 2017, should seek to augment its existing license from the Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury.  Home BancShares has experience with agriculturally-focused transactions on behalf of its customers in Arkansas, Alabama, Florida and New York.

Mr. C. Randall Sims, President and Chief Executive Officer of Home BancShares, along with Mr. John W. Allison, Chairman of Home BancShares, may want to seek assistance from their Governor (who visited the Republic of Cuba in 2015) and their Members of Congress:

The Honorable Asa Hutchinson (R), Governor of the State of Arkansas; United States Senators: The Honorable John Boozman (R) and The Honorable Tom Cotton (R); and the four members of the United States House of Representatives: The Honorable Eric “Rick” Crawford (R) who has visited the Republic of Cuba, The Honorable French Hill (R), The Honorable Steve Womack (R), and The Honorable Bruce Westerman (R).

In 2015, the OFAC authorized Stonegate Bank (2017 assets approximately US$2.9 billion) to have an account with Republic of Cuba government-operated Banco Internacional de Comercia SA (BICSA).  

However, because the Obama Administration would not authorize BICSA under a general or specific license from the OFAC to have an account with Stonegate Bank, United States export-related funds have been sent and received through Panama City, Panama-based Multibank, which has extensive dealings with the Republic of Cuba.  

Without bilateral direct correspondent banking accounts, the payment process for funds from the United States to the Republic of Cuba and from the Republic of Cuba to the United States remains triangular rather than a straight line- which would be more efficient, more secure, more transparent, more timely (same day versus two or more days), and less costly.  

The augmentation of the OFAC license would be consistent with the export-focused mandates of the United States Department of Agriculture (USDA) and United States Department of Commerce (DOC).

Previously, officials within the OFAC and United States Department of State shared that if a license application were submitted, the license application would likely be approved.

From the OFAC:

55.  Are financial institutions other than banks permitted to open correspondent accounts in Cuba?  Depository institutions, as defined in 31 CFR §515.333, which include certain financial institutions other than banks, are permitted to open correspondent accounts at banks in Cuba. See 31 CFR §515.584(a).

(f) Any banking institution, as defined in §515.314, that is a person subject to U.S. jurisdiction is authorized to provide financing for exports or reexports of items, other than agricultural commodities, authorized pursuant to §515.533, including issuing, advising, negotiating, paying, or confirming letters of credit (including letters of credit issued by a financial institution that is a national of Cuba), accepting collateral for issuing or confirming letters of credit, and processing documentary collections. With the exception of transactions related to exports or reexports of medicines or medical supplies, items associated with the provision of telecommunications and internet services for the Cuban people, or items associated with air and sea operations that support permissible travel, cargo, or trade, nothing in this paragraph authorizes a direct financial transaction prohibited by §515.209.

56.  Are Cuban banks permitted to open correspondent accounts at U.S. banks? No. U.S. depository institutions are permitted to open correspondent accounts at Cuban banks located in Cuba and in third countries, and at foreign banks located in Cuba, but Cuban banks are not generally licensed to open such accounts at U.S. banks. See note to 31 CFR §515.584(a).

What To Do?

Home BancShares should be proactive and seek the 50% of its correspondent banking license from the OFAC that it does not possess to then transparently, securely, and efficiently receive funds from the Republic of Cuba and transfer funds to the Republic of Cuba.

A fully-implemented direct correspondent banking agreement will lessen transaction costs by up to 2%; and that 2% could result in additional soybean products and corn and other agricultural commodities and food products exported from the United States to the Republic of Cuba.   

Since December 2001, the Republic of Cuba has transferred US$5.6 billion to United States-based companies for the purchase of agricultural commodities, food products and healthcare products; approximately US$150 million went to third-country financial institutions to process those payments.

Additional effort.  Additional time.  Additional expense.  And, additional reasons for the government of the Republic of Cuba to avoid United States-based companies.

The government of the Republic of Cuba may believe, and not without some reasonableness, that if the OFAC does not want United States companies to save on transaction fees, and gain from the potential savings in terms of increased product exports, then so be it.  

The government of the Republic of Cuba has a responsibility to gain as much as possible from each bilateral commercial relationship; and United States companies can provide high quality product, with competitive pricing, on a consistent basis, through efficient ground and rail and port transportation networks.  That’s a benefit to the 11.3 million citizens of the 800-mile long archipelago.   

United States companies (large, medium and small; and individual farmers) who engage in authorized transactions with any country should not be financially penalized.

There exists an available use of the OFAC licensing pathway to solve a payment problem.  Home BancShares and BICSA should make use of it.  The USDA and DOC should support it.

Complete Text In PDF Format

Link To Previous Blog Post:

https://www.cubatrade.org/blog/2017/12/12/president-trump-deserves-opportunity-to-right-an-obama-administration-wrong-sftcp-dcb?rq=Stonegate%20Bank

USDOT Finalizes New US-Cuba Routes Without Changes; United Receives Approval For Aircraft Change

The United States Department of Transportation (USDOT) has finalized its new route awards for the Republic of Cuba, receiving no objections to it interim decisions of April 2018.

LINK To USDOT Final Decision

Chicago, Illinois-based United Airlines received approval on 4 May 2018 from the USDOT for its Newark-Havana aircraft change request.

LINK to USDOT Final Decision

Home BancShares Reports On Its Risks Associated With Cuba-Related Banking Services

In September 2017, Conway, Arkansas-based Home BancShares (2018 assets approximately US$14 billion) through its Centennial Bank subsidiary purchased Pompano Beach, Florida-based Stonegate Bank.

In 2015, the Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury authorized Stonegate Bank (2017 assets approximately US$2.9 billion) to have an account with Republic of Cuba government-operated Banco Internacional de Comercia SA (BICSA).  

However, because the Obama Administration would not authorize BICSA under a general or specific license from the OFAC to have an account with Stonegate Bank, United States export-related funds have been sent and received through Panama City, Panama-based Multibank, which has extensive dealings with the Republic of Cuba.  

Without bilateral direct correspondent banking accounts, the payment process for funds from the United States to the Republic of Cuba and from the Republic of Cuba to the United States remains triangular rather than a straight line- which would be more efficient, more secure, more transparent, more timely (same day versus two or more days), and less costly.

2017 Annual Report Of Home BancShares

Page 8

Stonegate Bank – On September 26, 2017, the Company, completed the acquisition of all of the issued and outstanding shares of common stock of Stonegate Bank (“Stonegate”), and merged Stonegate into Centennial. The Company paid a purchase price to the Stonegate shareholders of approximately $792.4 million for the Stonegate acquisition. Under the terms of the merger agreement, shareholders of Stonegate received 30,863,658 shares of HBI common stock valued at approximately $742.3 million at the time of closing plus approximately $50.1 million in cash in exchange for all outstanding shares of Stonegate common stock. In addition, the holders of outstanding stock options of Stonegate received approximately $27.6 million in cash in connection with the cancellation of their options immediately before the acquisition closed, for a total transaction value of approximately $820.0 million.

Including the effects of the purchase accounting adjustments, as of acquisition date, Stonegate had approximately $2.89 billion in total assets, $2.37 billion in loans and $2.53 billion in customer deposits. Stonegate formerly operated its banking business from 24 locations in key Florida markets with significant presence in Broward and Sarasota counties.

Page 15

Other Banking Services

As a result of our acquisition of Stonegate in September 2017, we also offer credit cards to both consumers and businesses. Credit cards typically involve a higher degree of credit risk since outstanding balances are unsecured and repayment of such balances is often negatively impacted by a decline in economic conditions. Our credit cards offer a variety of benefits and features designed to meet the needs of our customer. In addition, our consumer credit cards can be used in Cuba.

Page 40

Our banking relationships with the Cuban government and Banco Internacional de Comercia, S.A. (“BICSA”) as a result of our Stonegate acquisition may increase our compliance risk and compliance costs.

U.S. persons, including U.S. banks, are restricted in their ability to establish relationships and engage in transactions with Cuba and Cuban persons pursuant to the existing U.S. embargo and the Cuban Assets Control Regulations. However, we maintain a customer relationship to handle the accounts for Cuba’s diplomatic missions at the United Nations and for the Cuban Interests Section (now the Cuban Embassy) in Washington, D.C. This relationship was established in May 2015 pursuant to a special license granted to Stonegate Bank by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) in connection with the reestablishment of diplomatic relations between the U.S. and Cuba. In July 2015, Stonegate Bank established a correspondent banking relationship with Banco Internacional de Comercio, S.A. (“BICSA”) in Havana, Cuba.

Cross-border correspondent banking relationships pose unique risks because they create situations in which a U.S. financial institution will be handling funds from a foreign financial institution whose customers may not be transparent to the U.S. financial institution. Moreover, Cuban financial institutions are not subject to the same or similar regulatory guidelines as U.S. banks; therefore, these foreign institutions may pose a higher money laundering risk to their respective U.S. bank correspondent(s). Investigations have determined that, in the past, foreign correspondent accounts have been used by drug traffickers and other criminal elements to launder funds. Shell companies are sometimes used in the layering process to hide the true ownership of accounts at foreign correspondent financial institutions. Because of the large amount of funds, multiple transactions, and the U.S. bank’s potential lack of familiarity with a foreign correspondent financial institution’s customer, criminals and terrorists can more easily conceal the source and use of illicit funds. Consequently, we may have a higher risk of noncompliance with the Bank Secrecy Act and Anti-Money Laundering (“BSA/AML”) rules due to its new correspondent banking relationship with BICSA and will likely need to more closely monitor transactions related to correspondent accounts in Cuba, potentially resulting in increased compliance costs. Our failure to strictly adhere to the terms and requirements of our OFAC license or our failure to adequately manage our BSA/AML compliance risk in light of our new correspondent banking relationship with BICSA could result in regulatory or other actions being taken against us, which could significantly increase our compliance costs and materially and adversely affect our results of operations.

Page 54

Acquisitions

Stonegate Bank

Through our acquisition and merger of Stonegate into Centennial, we maintain a customer relationship to handle the accounts for Cuba’s diplomatic missions at the United Nations and for the Cuban Interests Section (now the Cuban Embassy) in Washington, D.C. This relationship was established in May 2015 pursuant to a special license granted to Stonegate by the U.S. Treasury Department’s Office of Foreign Assets Control in connection with the reestablishment of diplomatic relations between the U.S. and Cuba. In July 2015, Stonegate Bank established a correspondent banking relationship with Banco Internacional de Comercio, S.A. in Havana, Cuba. As of December 31, 2017, this correspondent banking relationship does not have a material impact to the Company’s financial position and results of operations.

LINK to Home BancShares 2017 Annual Report

March 2018 Food/Ag Exports To Cuba Decrease 2.2%; Total Remains 20.8% Above 2017

ECONOMIC EYE ON CUBA©
May 2018

March 2018 Food/Ag Exports To Cuba Decreased 2.2%- 1
20.8% Increase Year-To-Year-5
Cuba Ranks 53rd Of 229 U.S. Food/Ag Export Markets- 2
March 2018 Healthcare Product Exports Zero- 2
March 2018 Humanitarian Donations US$477,484.00- 3
Obama Administration Initiatives Exports Continue To Increase- 3
Germany-Based Subsidiary Of Deere & Company Exports Construction Equipment- 3
U.S. Port Export Data- 15

MARCH 2018 FOOD/AG EXPORTS TO CUBA DECREASED 2.2%- Exports of food products & agricultural commodities from the United States to the Republic of Cuba in March 2018 were US$24,454,451.00 compared to US$25,018,148.00 in March 2017 and US$10,332,130.00 in March 2016.

LINK To Complete Report