Americans could be the main consumers of Cuban cigars in the world
- Submitted by: Camila
- Business and Economy
- 10 / 21 / 2014
If economic and trade relations between Cuba and the United States would reestablish Americans will be major consumers of cigars in the world, so said Jorge Luis Fernandez, vice president of international business corporation Habanos SA.
Before 1959 the United States bought 33% of cigars that were made in Cuba, however, after the two countries broke off diplomatic relations, and the Americans fixed restrictive measures and penalties this figure disappeared.
These constraints imposed in the 60s of last century, not only stripped the Cuban tobacco agribusiness a safe harbor, but Americans couldn’t smoke these cigars anymore.
Fernandez said that Cuba marketed normally 150 to 170 million premium cigars (more than three grams, handmade), which would yield $ 380 million per year.
The executive said that right now in the world are sold 400 million units of tabacco Premium, and only in the United States about 270 million are consumed.
If up these impediments, Cuba could sell in the first year about 50 million units in and in 10 years get the corresponding market share (Habanos sells 27 brands of Premium cigars considered the best in the world).
Source: Prensa Latina