Cuba Headed for Worst Tobacco Crop in its History

[El Presidente]

https://finance.yahoo.com/news/cuba-predicts-smallest-tobacco-harvest-135512644.html

 

Reuters

Thu, March 23, 2023 at 1:55 PM GMT·1 min read

 

 

HAVANA, March 23 (Reuters) - Cuba´s Pinar del Rio province, renowned for its luxuriuosly smooth tobacco, is heading towards its worst harvest ever, state run media reported late on Wednesday.

The province, which produces the majority of the tobacco used in the Caribbean island nation´s coveted, hand-rolled cigars, was steam-rolled by Hurricane Ian last fall. Most of the region´s tobacco drying houses were flattened and homes and infrastructure destroyed.

 

The 2022-2023 planting season will go down as the "smallest in Pinar del Rio´s history," according to a report in Granma, Cuba´s state-run newspaper.

Prior to the hurricane, the province aspired to plant 11,200 hectares, the report said, but the region will struggle to reach half that goal.

State-run tobacco company Tabacuba said in the report it would instead prioritize the highest quality crop to assure sufficient output for the all-important export sector.

The faltering planting season adds insult to injury as Cuba´s ailing, communist-run economy continues to sputter, saddled, in part, by a floundering recovery in its key tourism industry and harsh U.S. sanctions implemented under the administration of former U.S. President Donald Trump.

Cuban cigar maker Habanos said in late February it had boosted sales by 2% in 2022, but expressed concern about the situation in Pinar del Rio.

Cuba´s sugar harvest is also headed for record-low output this year, state media reported early in March, hampered by the economic crisis.

Economy minister Alejandro Gil told top officials late on Wednesday the country nonetheless maintained its prediction that output will grow 3% in 2023. (Reporting by Dave Sherwood; Editing by Nick Macfie)

[asudevil08]

Where is LeeMack912 when you need him?  Today is gonna be another great day, today is gonna be another great day...   😩

[chris12381]

There's not enough lipstick in all of the provinces for that pig of a crop report. 😕

[NSXCIGAR]

I'm guessing they didn't want to plant what they couldn't process since most of the facilities and barns aren't rebuilt yet. Kind of stuck in a bad situation. 

[tywindsor44]

Sad situation for Cubas people. Hoping one day it will tilt in their favor.


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[traveller]

Prices double by next year?

[PigFish]

Another 'woe is me' pre-price hike story coming out of Tabacuba. I have no sympathy for them, just their ex-clients!

[SCgarman]

Once again they will likely double pricing across the board. Next year as usual the press releases will say Habanos sets another new record for yearly revenue, and they will pat themselves on the back and act like they are God's of the universe. 😇

[LizardGizmo]

Tin-foil hat time




I was told two weeks ago on very good authority (without asking) to expect more of these hurricane stories to justify further scarcity and price increases by HSA. The people on the ground in production really seem to not like the investor groups and their motives. $30 D4 incoming.

[Cabbie]

38 minutes ago, lizardgizmo said:

Tin-foil hat time




I was told two weeks ago on very good authority (without even asking) to expect more of these hurricane stories to justify further scarcity and price increases by HSA. The people on the ground in production really seem to not like the investor groups and their motives. $30 D4 incoming.

Yeah. I also read that they have 2 years worth of export tobacco on hand still, and the people that will suffer the most on shortage currently is the local population. 2 years isn't enough time to turn things around, but it's better than having none on hand at all. I do see prices continuing to increase though, unfortunately. 😞

[bates40]

A lot of high quality "Flower" is grown indoors in Humboldt. 

[Kaptain Karl]

Thank god I'm stocked up!

[Chas.Alpha]

1 hour ago, Kaptain Karl said:

Thank god I'm stocked up!

Thank God I got those HdM DC out of you!🤣

[tywindsor44]

I’m trying to stock up as much as I can right now. Either it’s gonna stay similar in pricing(which is unlikely) or it’s gonna go up(more likely).


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[NSXCIGAR]

17 hours ago, lizardgizmo said:

expect more of these hurricane stories to justify further scarcity and price increases by HSA.

Well, they kept raising prices even after 5/6 blockbuster harvests so clearly it's not going to be pretty.