Cuban Cigar Prices Increase for 2024

With the start of the new year, Cuban cigar distributors around the world are beginning to adjust prices in their markets following price increases from Habanos S.A., the Cuban cigar monopoly.

In Spain—one of the largest markets for Cuban cigars—the adjustments amount to an increase of roughly 8.23 percent amongst the SKUs that are being affected, which appears to be nearly most Cuban cigars sold in the country. That 8.23 percent is based on approximately 350 SKUs, though some individual cigars are listed multiple times because they are sold in multiple packaging formats.

It doesn’t take into account some newer releases like the Ramón Allones Allones No.3—which was not on the January 2023 price adjustments list—as well as some random SKUs that appear on the 2024 adjustments like the La Gloria Cubana Medaille D’Or No. 4, which is now €7.70 in Spain, if you could find the cigar.

There’s one brand whose prices were largely unaffected: Trinidad.

The Trinidad Short, which increased from €1.35 to €1.45 per cigar, is the only SKU that has increased. That’s of particular interest given that Trinidad was the brand most affected by Habanos S.A’s historic price increase in 2022, which tripled the price of Trinidad cigars overnight.

For Spain, the average increase by marca is as follows:

• Bolívar — 10.32 percent
• Cohiba — 4.58 percent
• Cuaba — 22.39 percent
• Diplomáticos — 5.34 percent
• Fonseca — 4.84 percent
• H. Upmann — 10.37 percent
• Hoyo de Monterey — 10.24 percent
• Jose L. Piedra — 6.56 percent
• Juan López — 6.95 percent
• La Flor de Cano — 5.74 percent
• La Gloria Cubana — 5.33 percent
• Montecristo — 9.75 percent
• Partagás — 8.58 percent
• Por Larrañaga — 5.48 percent
• Punch — 10.41 percent
• Quai d’Orsay — 10.37 percent
• Qunitero — 4.3 percent
• Rafael González — 6.07 percent
• Ramón Allones — 10.4 percent
• El Rey del Mundo — 6.16 percent
• Romeo y Julieta — 9.95 percent
• San Cristóbal de la Habana — (12.94) percent
• Sancho Panza — 5.79 percent
• Trinidad — 7.41 percent
• Vegas Robaina — 5.41 percent
• Vegueros — 4.27 percent

Around a half dozen SKUs could have typographical errors. For example, the Cuaba Divinos is listed as decreasing in price from €17 to €9, while the Distinguidos is increasing from €9.60 to €20. The decline in San Cristóbal de la Habana prices is a result of the Prado being listed at €35 in 2023, but now €17.90.

Cigar	January 2022	January 2024	Percent of Increase
Bolívar Belicosos Finos	€ 12.40	€ 16.70	34.68%
Cohiba Behike BHK52	€ 55.00	€ 189.00	243.64%
Cohiba Lanceros	€ 35.30	€ 87.20	147.03%
Cohiba Siglo VI	€ 37.80	€ 100.00	164.55%
H. Upmann Magnum 46	€ 13.00	€ 17.50	34.62%
H. Upmann Magnum 50	€ 15.80	€ 21.30	34.81%
Hoyo de Monterrey Epicure Especial	€ 14.70	€ 20.80	41.50%
Hoyo de Monterrey Epicure No.2	€ 13.80	€ 19.50	41.30%
Montecristo Edmundo	€ 16.70	€ 23.70	41.92%
Montecristo No.2	€ 16.75	€ 23.80	42.09%
Montecristo No.2	€ 16.70	€ 23.80	42.51%
Partagás 8-9-8	€ 15.80	€ 22.40	41.77%
Partagás Serie D No.4	€ 13.80	€ 19.50	41.30%
Partagás Shorts	€ 4.25	€ 6.10	43.53%
Punch Punch	€ 13.00	€ 17.50	34.62%
Ramón Allones Specially Selected	€ 13.00	€ 17.50	34.62%

With relatively low taxes, a large smoking population and government-controlled prices, Spain has long been one of the cheaper places to buy Cuban cigars. Even removing the massive increases for Cohiba and Trinidad, the prices of other popular Cuban cigars have increased more than 30 percent in less than two years, significantly heftier price increases than what Habanos S.A.’s non-Cuban competitors have done in the same period of time.

While nowhere near as bad as the 2022 adjustment or last year’s price increase, the price of Cuban cigars has dramatically increased in the last two years and with the exception of Trinidad, it doesn’t seem Habanos S.A. is going to slow down the increases.

Most non-Cuban cigar companies will only adjust pricing once per year. Typically, those changes are enacted at the start of the new year, though some companies announced price increases in Q3 of last year. Below is a list of companies that have announced whether they will have a price increase in and around the start of 2024.

Company	Price Increase?
ADV & McKay Cigar Co.	Yes
AGANORSA Leaf	Yes
AJ Fernandez	Yes
All Saints Cigars	Yes
Altadis U.S.A.	Yes
Arango	No
Artesano del Tobacco	No
ATL Cigar Co.	No
Bellatto Premium Cigars	Yes
Black Label Trading Co.	Yes
Black Star Line Cigars	No
Boveda	Yes
Caldwell Cigar Co.	Yes
Casa Caraballo	No
Casa Cuevas	Yes
Colibri	No
Crowned Heads	No
Dapper Cigar Co.	Yes
Davidoff of Geneva	Yes
Drew Estate	Yes
E.P. Carrillo	Yes
El Septimo	No
Espinosa Premium Cigars	No
Esteban Carreras	Yes
Fosforo	Yes
Freud Cigar Co.	No
Habanos S.A.	Yes
HVC	Yes
Iconic Leaf	No
Jake Wyatt Cigar Co.	No
Kafie 1901	No
KBF	No
Kristoff	No
La Aurora	Yes
Lampert Cigars	No
Lost&Found	Yes
Lotus/Vertigo	No
My Father	No
Ohana Nui	No
Oliva	Yes
Patina	Yes
Perdomo	Yes
Potter Cigars	No
Powstanie	Yes
Principle Cigars	No
Rocky Patel	Yes
RoMa Craft Tobac	Yes
Santa Clara	No
Sinistro	Yes
Somm	No
Southern Draw	Yes
Stolen Throne	No
Sutliff	No
Tabanero Cigar Co.	No
Tatuaje	No
Vector-KGM	No
Villiger Cigars North America	Yes
Warfighter Cigar Co.	No