Honduras will export about 60 million dollars per month worth of agricultural products to Venezuela as payment for the oil Honduras will receive from that nation through the Petrocaribe agreement, official sources said Monday.
Honduras will pay for Venezuelan oil with agricultural products.
The Honduran Minister of Agriculture, Jacobo Regalado, told local media that Honduras and Venezuela are negotiating “fees of Honduran production surpluses and the needs of the Venezuelan market”.
He added that Honduras will pay for the Venezuelan fuel with beef and chicken, eggs, concentrated orange juice, oil palm, beans, coffee and corn flour.
“Initially we will send some 20 million dollars monthly, and then triple that amount, up to 60 million dollars,” said Regalado.
Note:
Honduras joined Petrocaribe in 2008, during the Honduran government of then President Manuel Zelaya, but Venezuela suspended the treaty with Honduras after the ousting of the Honduran president on June 28, 2009. On May 5, 2013, Honduras was incorporated back into Petrocaribe during the VII Summit of Heads of State and Government held in Caracas, in which President Porfirio Lobo attended.
Honduras Will Pay for Oil with Chickens and Coffee
The Petrocaribe agreement states that Honduras will pay 60% of the bill in cash and 40% over a 25-year term, at an interest rate of 1%. The oil payments supplied to Venezuela, according to the agreement, can be met not only through currency, but in kind, by providing services and products.
You must be logged in to post a comment Login