STUTTGART, AR.-The Arkansas rice industry is preparing for what could be a big boost in international sales.
That could mean hundreds of millions of dollars.
This coming on the heels of President’s Obama’s announcement on a deal with Cuba.
“These 50 years have shown that isolation has not worked. It is time for a new approach,” said President Obama.
That new approach easing economic restrictions, which means big money expect for the Arkansas rice industry.
“Cuban business could be in the range of 225 to 275 millions dollars,” said Bill Reed with Riceland Foods.
Riceland Foods is one of the biggest rice retailers in the country and based out of Stuttgart.
“This is an important development for the Arkansas Rice Industry,” said Reed.
Rice is a staple in the Cuban diet which is why the Arkansas Rice industry believes they will see a spike.
Riceland foods has had business relations with the country in the past and hope reestablish those.