Iran is discussing the modernization of 160 sugarcane factories in Cuba, according to an official speaking at the Iran-Cuba Business Forum.

 

Feasibility studies are underway to explore this potential collaboration in the Cuban market, Farshad Moqimi, CEO of the Iranian Small Industries and Industrial Parks Organization, said.

 

Following a recent Cuban delegation visit to Iran, talks focused on renovating and optimizing Cuba's sugarcane industry. Discussions also included the export of agricultural products, fertilizers, and pesticides from Iran to Cuba.

 

Cuba's sugar industry has faced a decline for decades, with production dropping from over 7 million tons in the 1980s to just 480,000 tons in 2022. This decline is partly attributed to falling global sugar prices and US sanctions.