HAVANA TIMES, March 5 — The organizers of the 14th Habanos Festival reported last Friday that over $ 960,000 was raised from the annual auction of Cuban cigars at the closing of the event in the Cuban capital. All of the funds will be donated to the Cuban health system, according to AP.
A gala dinner on Friday night with 1,500 participants from 70 countries gave way to the auction of six batches of cigars of the brands H. Upman, Hoyos de Monterrey, Romeo y Julieta, Partagas, Montecristo and Cohiba.
On this occasion the proceeds from the auction were less than those in 2011, when the amount raised was close to $1.08 million.
Over this past year, revenue generated from Cuban tobacco products was close to $401 million, thanks mainly to marketing success in China, said Habanos SA executives last week.
Spain is the country where the most Cuban cigars are sold now followed by France, China, Germany and Switzerland.