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 Sierra Leone Times.

More Information

26 ℃

Mostly Cloudy in Seletar

Business

Section

Defective break hose, wiper arm causes Ford recall of 1.5 million cars

DETROIT, Michigan: Due to leaking brake hoses and windshield wiper arms that can break off, Ford is recalling more than ...

Techs jump in widespread U.S. stock markets advance

NEW YORK, New York - Wall Street continued its advance on Tuesday as investors continued to weigh up the health ...

US says citizens not to buy meds in Mexico, many contain fentanyl

WASHINGTON D.C.: The US State Department has issued a travel warning regarding dangerous fake pills sold at pharmacies in Mexico, ...

Mercedes modernizing EV plants in China, Germany, Hungary,

FRANKFURT, Germany: The German Automobilwoche magazine has reported that as part of its efforts to switch to selling electric vehicles ...

Banks rebound lifting U.S. stock markets, Nasdaq gains 45 points

NEW YORK, New York - U.S. stocks rallied on Monday following the weekend buy-in of Credit Suisse by UBS, which ...

US loans $300 billion to banks following closing of SVB bank

WASHINGTON D.C.: The US Federal Reserve Bank has announced that cash-strapped banks throughout the US borrowed some $300 billion during ...

Africa

Section