Cuba News and Information

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Havana.- Cuban fishing industry is betting on expansion, with the goal of becoming the fifth sector in the Caribbean island’s economy regarding its contributions in hard currency.

Officials from the fishing sector predicted revenues of 120 million dollars next year.

Lobster will continue to be the main export item next year, contributing three fourth of total revenues to the national economy. Other exports will be sea shrimp and fish, as well as freshwater fish such as red tilapia, and farmed shrimp.

In the particular case of lobster, officials expect to expand and diversify its industrial processing to increase its added value, which would range from 5 to 10 percent.

Major importers of Cuban seafood are Europe, Asia and Canada, in that order.

Regarding the domestic market, the sector’s strategy aims to guarantee and expand the rationed supply of food for the people from both sea fishing and aquiculture.