Cuban cigar sales rose 7 percent to $402 million in 2007..

March 4, 2008 - Cuban cigar sales rose 7 percent to $402 million in 2007.. The Cuban cigar company Habanos is owned jointly by the Cuban government and Altadis SA, which was recently acquired by the Imperial Tobacco Group. Cuban cigars comprise 80 percent of the world cigar market -- not counting the United States, which has had a trade embargo banning Cuban products since 1962. Spain, France, Germany, Switzerland and Cuba's domestic market remained top consumers of Cuban cigars last year, while sales in Canada fell 7 percent as stricter anti-smoking laws took hold, anos Vice President Manuel Garcia said. The company does not reveal how many individual cigars it sells a year, but the total is believed to be between 150 million and 160 million. Garcia spoke at the 10th annual Habanos Festival in Havana. Altadis, the manufacturer of Fortuna, Gitanes and Ducados cigarette brands, is also the world's leading cigar distributor of cigars through its 50-50 venture with the Cuban state. Imperial Tobacco Gets Approval to Sell Brands in U.S.. Click on image to enlarge..