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 Sacramento Sun 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 Sacramento Sun.
More InformationNEW YORK, New York - The U.S. stock markets again edged in and out of positive territory on Wednesday, but ...
BRUSSELS, Belgium: A document released by the European Union this week revealed that the bloc and its development finance institutions ...
WARSAW, Poland: As Poland's main interest rate remains at its highest level since 2008, boosting the profits of Polish banks, ...
SYDNEY, NSW, Australia - Stocks across Asia lost ground on Wednesday, although the New Zealand market defied the regional trend ...
LONDON, England: After EasyJet canceled thousands of flights this summer to limit the disruption caused to passengers from both air ...
DETROIT, Michigan, global shortage of computer chips, vehicles, Detroit automaker, General Motors, GM's total salesDETROIT, Michigan: The global shortage of ...
BERLIN, Germany: Karl Lauterbach, Germany's health minister, has said that he will encourage family doctors to issue more prescriptions for ...
PARIS, France: According to projections and interviews by the Associated Press in 11 countries, tourism officials have said they expect ...
TRENTO, Italy: Record warm temperatures caused a mountain glacier in the Italian Alps to collapse on July 3, killing at ...
WASHINGTON D.C.: The Department of Homeland Security (DHS) will assist Qatar with security during the 2022 World Cup, which begins ...
PARIS, France: Signaling further disruptions for summer travelers, workers at Roissy-Charles de Gaulle Airport said they would go on strike ...
SOFIA, Bulgaria: Russian diplomats and their families departed Bulgaria over the weekend, amidst heightened tensions between the two eastern European ...