Cuba's state cigar monopoly reports record sales in 2021

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Cuba's state cigar monopoly reports record sales in 2021

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

Many consider Cuba's hand-rolled cigars to be the best in the world, as Cohiba, Montecristo and Partagas.

Travel restrictions in 2020 due to the Pandemic seriously affected demand for countries relying on tourism, as well as sales at duty-free stores in airports around the world, which are responsible for reducing the sales of Cuban cigars.

In response to a statement on its website, Habanos said its revenues increased 15 percent over the year 2020, because of vaccination programs and the resumption of international travel.

The rise in sales of cigars, one of the country's top exports, is a rare bright spot for the Cuban economy, hammered by the Pandemic and ongoing U.S. sanctions.

The Cigar Aficionado predicted that the larger Cohibas cigars will surpass a price tag of $100 each, noting that the Hong Kong market is among the most expensive in the world.

In a story on its website this week, Bigger Cohibas will sell for $100 each, and boxes will no longer be priced in the hundreds of dollars, but in the thousands. The top markets for Cuban cigars are Spain, China, Germany, France and Switzerland, according to Habanos.

Cuba can't sell its signature on its cigars to the U.S. largest market worldwide due to ongoing trade sanctions.