Honduras: Tobacco industry reeling from costs
The tobacco industry operating in eastern zone is analyzing the possibility of transferring their operations to Nicaragua or the Dominican Republic due to the increase in costs.
Monday, January 26, 2009
Latribuna.hn reports: "Nestor Plasencia, tobacco businessman, said that in Nicaragua and even in the Dominican Republic, tobacco companies have lower operating costs than those they face in Honduras.
Airport authorities in San Pedro Sula, Honduras, face spiraling costs as traffic is diverted from Tegucigalpa following a recent serious accident there.
Nicaraguan Cigars are considered among the best in the world, and their production is the fastest growing in the globe.
The main export market for Nicaraguan cigars could change after the eventual reopening of trade between Cuba and the United States.
Growing external demand is boosting an industry that contributed more than $100 million to the country's 2010 GDP.
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