US Farmers Benefit From Venezuelan Socialism

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US rice farmers are making large profits from exports to Venezuela. At least US$86 million on rice was exported to Venezuela last year.

The boom for rice exports to Venezuela is due to the impact of the late President Hugo Chavez’s socialist policies. Ten years ago, Venezuelans produced the rice for final consumption domestically. Since 2008, however, when Hugo Chavez nationalized farms and put limits to food prices, there has been a slow down on production, giving the US farmers a market opportunity.

Source: The Wall Street Journal. Read More »

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