At 32nd meeting of Vietnam-Cuba inter government committee, Economic, Commercial, Scientific and Technological Cooperation held at Havana in October 2014, both Vietnam and Cuba has signed a deal whereby Cuba has agreed to import around 300,000 tons of rice from Vietnam.
Cuba’s annual rice requirement is of 400,000 tons of rice and major part will be exported by Vietnam.
Currently India, Brazil and Thailand are the major rice exporter to Cuba. Cuba import about 50% of its rice requirement of 890,000 tons. United State’s relaxation in trade finance for Cuban firms may also tempt Cuba to purchase most of its rice from U.S.
USDA has estimated Cuba rice production at around 440,000 tons of milled rice and import volume at around 450,000 tons in MY 2014-2015.