China dethrones Spain as top market for Cuban cigars

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But rising demand in Asia could not compensate for declines in sales elsewhere. FMTNews China

HAVANA: Cuba’s state cigar monopoly, Habanos SA, said yesterday that China had displaced Spain last year as its top market but rising demand in the Asian giant could not compensate for declines in sales elsewhere, with global revenue down 4% to US$507 million.

Cuba’s hand-rolled cigars, which include brands such as Cohiba, Montecristo and Partagas, are considered by many as the best in the world. This year, though, with Cuba grappling with its worst outbreak of Covid-19 yet and other countries also struggling to curb contagion, it is instead holding three days of virtual events, which kicked off yesterday.

Cigars are one of the top exports for the Cuban economy, which shrank 11% last year as the pandemic and increased US sanctions exacerbated the cash crunch.

 

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the chinese can afford but may not be classy.

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