Robert Besser
14 May 2022, 04:52 GMT+10
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.
Get a daily dose of Detroit Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Detroit Star.
More InformationDOLNI MORAVA, Czech Republic: The world's longest pedestrian suspension bridge has opened at a mountain resort in the Czech Republic. ...
SHAN STATE, Myanmar - According to an officer who participated in the assault, two local defense forces have destroyed a ...
TUNIS, Tunisia - The Tunisian navy said Saturday that it rescued 81 migrants, including 32 Bangladeshis, sailing from Libya to ...
ST. PETERSBURG, Florida: - A nearly $1 billion settlement has been agreed upon in a lawsuit brought by families of ...
The suspect is an 18-year-old white man heavily armed with tactical gear and a helmet, said Buffalo Police Commissioner Joseph ...
SAN JOSE, Costa Rica: President Rodrigo Chaves, who was sworn in as president on May 8, has declared a state ...
NEW YORK CITY, New York: Amazon.com founder Jeff Bezos delivered a tearful remembrance of his father's fleeing Cuba in the ...
The New York Islanders promoted Lane Lambert to head coach on Monday to replace Barry Trotz behind the bench. Lambert, ...
The Atlanta Falcons announced the signing Monday of former Green Bay Packers wide receiver Geronimo Allison. The Falcons did not ...
The order of selections for the 2022 NBA Draft will be known Tuesday, when the league conducts the lottery in ...
By Shalini BhardwajNew Delhi [India], May 16 (ANI): Dr N Madhusudan Rao, CEO-Atal Incubation Centre at Centre for Cellular and ...
Come Monday, a rematch of last year's American League Championship Series awaits as the Houston Astros visit the Boston Red ...