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15:38, 19-Feb-2019
Cuba kicks off annual cigar festival amid rising sales
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Sales of Cuba's legendary cigars rose five percent last year to 445 million U.S. dollars, defying stagnation in the global luxury goods market, manufacturer Habanos S.A. said on Monday at the opening of the Caribbean island's annual cigar festival.
Cuba's monopoly cigar company kicked off the festival that attracts wealthy tobacco aficionados and retailers from around the world for five days of extravagant parties and tours of plantations and factories.
Habanos dominates the global market for hand-rolled, premium cigars except in the United States due to Washington's half-century trade embargo against Cuba. The United States is the world's biggest cigar market.
American enthusiasts have had slightly better access to Cuban cigars since former President Barack Obama two years ago unveiled a Cuba policy aiming to normalize relations.
Source(s): Reuters