Cuban cigar sales increase by 8% in 2013
Large jump in 2013 sales fuelled by demand of Chinese and Middle East markets. Results were announced at the beginning of this year's Habanos Festival, currently taking place in Havana.
Sales of Cuban Cigars increased by 8% last year, helped by the strong demand of emerging eastern markets including China & the Middle East.
Total sales reached $447m, up from $416m in 2012. Results were announced at this year's Habanos Festival, that is currently taking place in Havana.
Habanos SA, the company that is responsible in handling Cuban Cigar production, is joint owned by Cubatabaco and Altadis.
The 2013 sales increase demonstrates how recent decisions in the past few years have encouraged growth within the industry. Although I'm sure many of you myself included have groaned at the pricing of some of the high end new Cohiba releases, limited editions and Gran Reserva's, there's no doubt these releases have played their part in feeding China's and the Middle East's hunger for ultra-premium Cuban Cigars.