Sancti Spíritus Unveils Two Wholesale Markets with $300 Minimum Purchase Requirement

Sancti Spíritus is set to become the first Cuban province to host two wholesale supply markets operated by the Commercial Company ITH. These markets, slated to open next week, will impose a minimum purchase requirement of $300 USD or its equivalent in Cuban pesos (CUP).

The markets will cater to micro, small, and medium enterprises (MSMEs), self-employed workers, and other economic participants, whether state-owned or private, who need supplies and products for their operations.

One of the markets will be located at ITH's headquarters in the city of Sancti Spíritus, while the other is expected to open soon in Trinidad, as announced by Aida Rita Rivas Duarte, ITH's director in the area, during a statement reported by Radio Sancti Spíritus on Friday.

Transactions will be conducted in both USD and CUP, depending on the price of each product. A unique feature introduced by ITH is that individuals can also make purchases without the need for a prior contract, though they will have to register with a customer profile and meet the minimum purchase requirement.

Rivas explained, "The innovative aspect here is selling to individuals without requiring a contract, just a customer profile with a set minimum purchase." This threshold is set at $300 USD or its equivalent in CUP.

This requirement creates a substantial entry barrier for those looking to access the new wholesale market, especially in a scenario where small economic actors face high costs to sustain their businesses.

ITH will serve as the logistics operator, responsible for storing goods and managing sales. The company will also engage as a partner through methods such as consignment or deposit contracts.

The main supplier will be the Municipal Agroindustrial Company of Sancti Spíritus, alongside its usufructuaries and producers. Additionally, ITH's infrastructure in the provincial capital will be dedicated exclusively to the supply market, with services for local hotels being relocated to Trinidad.

Rivas stated, "We already have the initial goods in storage and will begin sales next week."

This initiative is part of a package of 176 economic measures approved by the Communist Party of Cuba in June. Axis 19 of this program included the reorganization of wholesale trade.

The model was formalized through Resolution 13/2026 by the Ministry of Domestic Trade, published in the Official Gazette on August 4. The regulation authorizes the participation of state enterprises, non-state management forms, producers, importers, and foreign investment modalities.

The regulations dictate that these venues must operate in CUP and foreign currencies, issue invoices, ensure electronic payments, and incorporate online commerce capabilities, including payments from abroad.