Bolivia to Sell Rice to Cuba and Venezuela

Bolivia to Sell Rice to Cuba and Venezuela La Paz, Oct. 14. -Bolivia's state-run Food Production Support Company (Emapa) plans to expand its sales of rice to Venezuela and Cuba using the SUCRE virtual currency, the Unique System of Regional Compensation, a government source said on Wednesday.

According to the vice minister of Domestic Trade and Exports, Huascar Ajata, those sale could be worth about US$6 million.

Bolivia made its first sale of 5,000 tons of crude soy oil to Caracas on Friday through the Gravetal Bolivia SA company, and thanks to the Andean nation's particpation in the Bolivarian Alliance for the Peoples of our America (ALBA), Ajata said.

A possible US$500,000 in book exports and US$1 million in textiles are also expected, he said.

The official noted that the financial transfers and new trade using the SUCRE as a virtual currency will allow Bolivia and other ALBA member nations to become independent of the U.S. dollar for this type of exchange. (Prensa Latina)