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08 April 2010
CUBA: Replacing Sugar Ministry With State-Run Corporation And Foreign Investors.
TVNZ/NEWZEALAND/ In the most drastic reorganisation of the once-thriving sugar industry since it was downsized in 2002, Cuba will shutter its Sugar Ministry and replace it with a state-run corporation that will allow foreign investment and closing of inefficient sugar mills. Sugar was once the biggest earner but now is less than 5% of foreign exchange earnings. Only 700,000 hectares of the more than 2 million hectares once controlled by Cuba's sugar ministry now grow sugar cane.