Cuban cigars make comeback after Covid, set record sales

Robert Besser
14 May 2022, 04:52 GMT+10

Cuba's state cigar monopoly, Habanos S.A., reports that sales of its famous hand-rolled cigars have rebounded strongly after two years of the COVID-19 pandemic
Many consider Cuba's hand-rolled cigars, which include brands such as Cohiba, Montecristo and Partagas, as the best in the world
Travel restrictions in 2020 caused by the pandemic seriously affected demand from countries reliant on tourism, as well as sales at duty-free stores in airports around the world

HAVANA, Cuba: Cuba's state cigar monopoly, Habanos S.A., reports that sales of its famous hand-rolled cigars have rebounded strongly after two years of the COVID-19 pandemic, posting record sales in 2021.

Many consider Cuba's hand-rolled cigars, which include brands such as Cohiba, Montecristo and Partagas, as the best in the world.

Travel restrictions in 2020 caused by the pandemic seriously affected demand from countries reliant on tourism, as well as sales at duty-free stores in airports around the world, seriously reducing the sales of Cuban cigars.

According to a statement on its website, Habanos said its revenues rose 15 percent over 2020, in light of vaccination programs and the resumption of international travel.

The rising sales of cigars, one of the communist-run country's top exports, is a rare bright spot for the Cuban economy hammered by the pandemic and ongoing U.S. sanctions.

Top cigar industry publication Cigar Aficionado predicted the larger Cohibas cigars will soon exceed a price tag of $100 each, noting that the Hong Kong market is among the most expensive globally.

In a story on its website this week, the publication stated, "Bigger Cohibas will sell for $100 each, and boxes will no longer be priced in the hundreds of dollars, but in the thousands."

Spain, China, Germany, France and Switzerland are the top markets for Cuban cigars, Habanos said.

Due to ongoing trade sanctions lasting decades, Cuba cannot sell its signature export to the U.S., the largest market worldwide for cigars.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Professional Autos.

More Information

26 ℃

T-Storm in Seletar

Business

Section

Stocks in Asia range-bound as markets contemplate next move

SYDNEY, NSW, Australia - Stocks struggled for direction in Asia on Monday. Early gains evaporated later in the data, although ...

China's Green Valley ends Alzheimer's drug test due to funding

BEIJING, China: China's Green Valley Pharmaceutical company has prematurely ended an FDA approved study on its GV-971 to treat mild ...

GM, union raise wages 8.5% at Mexico truck factory

SILAO, Mexico: U.S. automaker General Motors (GM) has agreed to raise wages by 8.5 percent, following negotiations with a new, ...

Croatia passes law paving way for switch to euro currency

ZAGREB, Croatia: Croatian lawmakers have voted to allow the introduction of the euro currency in 2023. Lawmakers voted 117-13 to ...

After jump in food prices, Iran cuts off internet to prevent protests

TEHRAN, Iran: Iran has abruptly raised prices as much as 300 percent for a variety of staple foods, including cooking ...

Weekly May inflation reported at 0.12 percent in Russia

MOSCOW, Russia: Russia's weekly inflation rate has further eased after surging soon after Moscow began its invasion in Ukraine on ...

Engineering

Section

The most decisive platform for the Indian woodworking, furniture and mattress manufacturing industry is set to create new benchmarks

Bengaluru (Karnataka) [India], May 16 (ANI/PR Newswire): The 12th edition of INDIAWOOD (2nd - 6th June, 2022) organised by NuernbergMesse ...