Cuban tobacco industry rebounds after hurricane

An auction of Cuban cigars closed the 23rd Habano Festival on Friday in Havana, one of the most important commercial events in the sector. Humidors - a special box usually made of precious woods which controls temperature and humidity for cigars to be stored in - were up for auction, with the highest price fetched for a Cohiba cigar signed by the Cuban president. Boney M. also performed at the event.

The total revenue of the auction was $11.9 million. The organization holding the event was Habanos S.A. The company, a partnership between the state-owned Cubatabaco and the Ibero-British Altadis, reported that it had reached sales of 545 million dollars in 2022. Their main sales are in Europe, Asia and the island itself due to an improvement in tourism. Cuban hand-rolled cigars are considered among the best in the world.