• Submitted by: manso
• Business and Economy
• 06 / 30 / 2011

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HAVANA,Cuba, Jun 29 (acn) The Cuban government doubled the purchasing price per ton of sugar cane aiming to attract farmers to develop this crop to boost its production in the country, according to Sugar deputy Minister Nelson Labrada.

Sources of this Ministry said that they have received over 15,000 new applications to lease idle lands to produce cane, following the passing of the Decree-Law 259, which enable Cubans to acquire land to work on.

Deputy Minister Labrada pointed out at the Center of Studies of the Cuban Economy that the first priority is to produce sugar cane to then have the raw material to obtain sugar, alcohol and other by-products.

The goal is to reach a two-fold increase on the tonnage per hectare within the next five years, and to achieve this it is mandatory to increase yield, repair roads and to plant enough cane, as well as to improve the crops irrigation.

“The world’s demand for sugar will continue growing and it shows in the markets” said Labrada.

Meanwhile, the raw sugar price rose to 29 cents per pound in the New York market, and in London the metric ton of refined sugar skyrocketed to 764.9 dollars.

Source: http://groups.yahoo.com/group/CubaNews/message/124658