Jakarta, February 20 - The digital newspaper "Media Indonesia" published an article highlighting the sales of Cuban cigars in international markets.
The text mentions a 31% increase in exports last year, as the global demand for luxury products rose. It specifies that the sales volume of exports for this commodity reached 721 million U.S. dollars or 11 trillion Indonesian rupiahs.
The article quotes Jorge Pérez Martell, the Commercial Vice President of Habanos SA, who emphasized that the company will experience a 31% increase in revenue in 2023, as the annual cigar festival begins in the capital, Havana.
"With the end of the Covid-19 pandemic, the luxury goods market in general, and the consumption of premium cigars in particular, experienced strong demand growth in all regions," said the company's Vice President in charge of cigar development, José María López Inchaurbe.
He also expressed that the development of exclusive special products and high-end limited edition items is one of the main drivers of this sales growth.
The Cuban economy has been positively impacted by the increase in cigar exports, which has been affected by the worst crisis in three decades. Inchaurbe stated that, in terms of value, China remains the largest global market for cigar exports, followed by Spain, Switzerland, Germany, and the United Kingdom.
He pointed out that, regionally, Europe is the main market, responsible for 56% of Cuban cigar exports, and unable to sell the product to the U.S. due to the blockade imposed by Washington since 1962.
Although Western Cuba, the country's traditional tobacco-producing region, was hit by devastating hurricanes in 2022, "the industry is beginning to recover," said the Vice President of Habanos SA, Luis Sánchez-Harguindey Pardo de Vera.
Habanos SA is a joint venture between the Cuban state and Tabacalera SLU, based in Spain. It is the sole company responsible for the export of Habanos.
Tabacalera, a long-time subsidiary of the British group Imperial Brands, has been part of a consortium of Asian investors known as Allied Cigar Corporation since 2020.
The article concludes by highlighting that Cuban tobacco, renowned as one of the best in the world, is one of Cuba's main export products, along with nickel, seafood, vaccines, and medical services.
Cuban Embassy in Indonesia.
Read the full article in : Link: https://mediaindonesia.com/ekonomi/654666/ekspor-cerutu-kuba-melonjak-31...