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Sugar industry of Cuba

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Historical Overview of Cuban Sugar Industry:
– Spain initiated sugarcane cultivation in Cuba in 1523
– Cuban sugar production increased from 14,000 tons in 1790 to over 34,000 tons in 1805
Cuba’s market share in raw sugar production was about 15% between 1820 and 1895
Cuba gained independence from Spain after the Spanish–American War in 1898
– US banks provided significant loans to Cuban sugar producers in 1920
– Impact of the Smoot–Hawley Tariff Act in 1930 on Cuban producers
Cuba’s exclusion from the US market post the Cuban Revolution of 1933

Cuban Sugar Industry’s Dependence on the Soviet Union:
Cuba’s historical economic ties to sugar production
– Long-term trade agreement with the Soviet Union signed in 1964
– Cuban debt to the Soviet Union reaching approximately $5 billion by 1974
– Cuban sugar exports to the Soviet Union below world prices until 1991
– Economic repercussions following the collapse of the Soviet Union
– Decline in sugar exports from $5.5 billion to $1.7 billion pesos post-Soviet Union collapse

Economic Impact of Cuban Sugar Industry:
– Transition from sugar to services in the Cuban economy
– Decline in sugar production impacting the economy
– Economic challenges due to fluctuations in the sugar industry
– Dependency on sugar exports for economic stability
– Efforts to diversify the Cuban economy away from sugar

Cuban Sugar Industry in Modern Times:
– Decrease in sugar production from 7.1 million tons to 4.4 million tons between 1991 and 1993
– Restriction on imports due to the US embargo affecting the industry
– Shifts in demand post-1991 from Eastern European states
– Impact of global market trends on Cuban sugar exports
– Recent challenges faced by the sugar industry, including Cuba’s worst sugar harvest in over a century

Academic and Research Sources on Cuban Sugar Industry:
– Encyclopedic references and academic studies on Cuban sugar industry
– Key publications exploring the rise and fall of the Cuban sugar economy
– Analysis of Cuban dependence on the Soviet Union in the sugar industry
– Castro’s influence on the industry and Cuban economic policies related to sugar
– Recent developments and efforts to address challenges in the Cuban sugar industry

The Cuban sugar economy is the principal agricultural economy in Cuba. Historically, the Cuban economy relied heavily on sugar exports, but sugar production has declined since the breakup of the Soviet Union in 1991. In 2015, raw sugar accounted for $368 million of Cuba's $1.4 billion exports.

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