Tobacco industry looking to consolidate markets
By Guy José Bendaña-Guerrero & Asociados

The idea is to gradually increase planting acres in the country. Currently more than 17.000 acres are used for tobacco plantations, particulary in the Department of Estelí, where the majority of cigar factories have settled, producing many of the best and most awarded brands of cigars. Nicaraguan Oliva Serie V Melanio Figurado was named 2014's best cigar after receiving a
rating of 96 (out of 100) from Cigar Aficionado magazine.
In the last decade Nicaragua has become one of the leading manufacturers of cigar countries worldwide, with presence in 79 countries and creating nearly 84.000 jobs in the country. The industry annually invests about U$S 36 million and national banking credits for tobacco companies have reached U$S 50 million. Econoy studies forecast exports growth of 5% for Nicaraguan cigars in 2015.
