Cuban sugar economy

The Cuban sugar economy is the principal agricultural economy in Cuba. In two years after World War II, the price of sugar in Cuba went from 4 cents a pound to more than 20 cents a pound.[1] It soon experience a bust as the European economy reprospered after the war, and it's prices went below four cents, causing ruin to many sugar farmers.[2] It was subject of a reciprocal trade pact with the now former Soviet Union. In 1970 Fidel Castro's panic became the rush for an unattained 10 million ton harvest of sugar cane. Although it was a record, it was not sufficient in sustaining the Cuban economy at a moderate level, it would be years before the Cubans would cease to feel the sting..[3]

References

  1. ^ Martin, Cheryl; Mark Wasserman (2008). Latin America and its People. Peason Education. p. 372. ISBN 0205520537. 
  2. ^ Martin p. 372
  3. ^ Martin p. 429