Cuba: Payment in dollars to some private producers is promised in bank accounts.

Cuban government authorities announced that some private agricultural producers will receive their payments in dollars, but only in bank accounts. The measure, which seeks to raise foreign currency in specific sectors such as charcoal, honey, coffee, and cocoa, imposes complex conditions that could hinder its effective implementation, as producers need the cash.

In an attempt to attract foreign currency and sustain its battered economy, the Cuban government proposed During the 13th Congress of the National Association of Small Farmers (ANAP), pay certain agricultural producers in dollars, provided they belong to sectors considered profitable and strategic.

Among the prioritized areas are: el charcoal —mainly marabou—, the miel, the coffee and the cocoa, all products with international demand.

These sectors would be financed with foreign currency, but through the mediation of 22 state-owned export companies, which will retain a significant portion of the revenue.

According to the Deputy Minister of Economy and Planning, Roberto Pérez, 70% of the income generated by exports will be managed through these entities.

Of that amount, the 54% will be credited directly to the producer in a foreign currency account, while the 30% will go to the State Central Fund, as well as the 16% remaining will be retained by the exporters.

Payment in dollars to agricultural producers in Cuba

Payments in dollars will be made exclusively into bank accounts, which has generated criticism among Cuban agricultural producers due to the lack of liquidity in the Cuban financial system and the difficulty of accessing cash in rural areas.

In fact, mandatory banking It was one of the most controversial topics of the event, with several producers pointing out that the use of digital platforms does not fit the reality of the Cuban countryside.

"It can't be a straitjacket," said one of the delegates, referring to the problems they face in paying day laborers and suppliers in cash.

In addition, the inclusion in the payment in dollars of other crops that have been less favored until now was announced, such as corn, the bean, the soybean and the rice.

In these cases, the producer will receive between a 55% and 60% of the sales price in foreign currency, with the remaining amounts directed to cover logistics costs and institutional expenses.

Although it is presented as an incentive, farmers continue to show skepticism, especially because of the history of defaults and delays of the collection system. Something that can undoubtedly be repeated with this promise.