Rum Abuelo has set a new record growth in rum production in 2010. In this weeks’ La Prensa newspaper, an article stated that there was a 32.1 percent increase in rum production compared to last year. The taste of Rum Abuelo is enjoyed by Panamanians, expats, and tourists throughout Panama. Rum Abuelo is already imported internationally and will soon be recognized all over the world, further promoting Panama along with it.
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Growth in rum production sets record
Production of rum in Panama is reaching record numbers, according to figures from the Office of the Comptroller.
Between January and August of this year, there were more than 4 million liters of rum produced in the country, which represented an increase of 32.1 percent as compared to the same period in 2009. Previously, the strongest growth in this sector was recorded in 2007, when production increased 21.5 percent to 2.1 million liters.
Luis Varela, representative of Varela Hermanos, S.A., said that the company is on track to exceed 4.5 million liters this year.
“Ron Abuelo will become one of the leading brands of mature rum in the world,” Varela said. “Our total sales growth has been about 25 percent during the past 12 months.”
Currently, Ron Abuelo is exported to Chile, Colombia, Bolivia, Ecuador, the United States and Spain. The company hopes to expand its European presence by expanding to France, Denmark, Sweden, Germany and the Czech Republic.
Varela said it also wants to explore export opportunities to Asia.
The second-largest producer of rum in the country, Carta Vieja, is also focused on increasing exports. It has entered the U.S. market and company manager Faric Gozaine said it expects exports to increase 25 percent.
The company also exports its product to Costa Rica and Bolivia, and is eyeing sales in Europe.