Some insights on the Cyprus market.

[El Presidente]

 

https://in-cyprus.philenews.com/local/cigar-and-cigarillo-shortage-in-cyprus-nears-resolution/

Cigar and cigarillo shortage in Cyprus nears resolution

 

A shortage of cigars, particularly cigarillos, has been reported in the Cypriot market in recent weeks. However, industry professionals have assured that the issue is now on the path to being resolved, according to reports from Phileleftheros (Φ).

Cigarillo enthusiasts, particularly over the past month, found themselves confronted with empty shelves at retail outlets, searching for their preferred brands. According to local sellers, the shortage forced many consumers to switch to alternative brands, only to discover that stocks of these were also running low. As a result, some customers even resorted to calling stores in advance to reserve cigars and cigarillos.

Customers Calling to Reserve Cigars

Reports from tobacco retailers highlight the extent of the issue. Several shop owners told Phileleftheros that a number of customers had been calling to inquire whether products were available for reservation. Some even mentioned that they had been searching for the products at multiple stores, only to find them out of stock.

Cause of the Shortage

An investigation into the shortage revealed that it stemmed from two main factors.

The first factor was changes implemented by the European Union regarding the traceability of tobacco products. Starting in 2020, these changes were applied to cigarettes, and from last year, cigars and cigarillos were also included. According to the new regulations, the packaging of these products must feature a unique marking that must be scanned with every transaction.

The second contributing factor was limited production in Cuba, which supplies the majority of cigars to Cyprus.

However, both of these issues appear to have been resolved. Phileleftheros has learned that large shipments of cigars and cigarillos have already been imported into Cyprus, and these products are expected to be back on the shelves by Monday.

Imports Worth €50 Million

According to data from the Cyprus Statistical Service analyzed by Phileleftheros, over 180,000 kilograms of cigars and cigarillos were imported into Cyprus in 2024, with a value surpassing €52 million from 16 different countries. It should be noted, however, that not all of these products are distributed within Cyprus, as the Limassol-based company responsible for importing them also re-exports significant quantities to other markets.

When it comes to the countries from which Cyprus imports its tobacco products, Cuba leads the list by a wide margin. The country accounts for the majority of both the value and quantity of the imports, with Cuban cigars making up €41 million and 94,000 kilograms of the total €52 million and 180,000 kilograms imported.

[VeguerosMAN]

This is a nice distraction from the world market that's tanking right now.