Havana Club's Resilience Amidst Cuba's Sugar Woes

Havana Club continues to produce its renowned rum despite a drastic decline in Cuba's sugar cane harvests and ongoing tensions with the U.S., which have affected the island's economy. Exports, especially to Europe, remain vital, while the company eyes growth in China's market.

Havana Club is determined to keep its smooth rum flowing even as Cuba's sugar cane harvests hit record lows and diplomatic tensions with the United States simmer. The company's top executive stressed their commitment in an interview this week.

The famed rum brand, a collaboration between state-owned Cuba Ron and France's Pernod Ricard, exports to 125 countries. Yet, U.S. trade embargoes hamper sales in the American market, exacerbating economic struggles. However, Christian Barre, CEO of Havana Club International, is optimistic.

Despite challenges, Havana Club's revenue surged 8% from July 2023 to June 2024. With sights set on China as a key growth market, the rum maker remains a crucial source of foreign currency for Cuba's government.

(With inputs from agencies.)