Coke suspend their production in Venezuela
Coca-cola production hitting a halt
Coca-Cola has come to a halt for all production in Venezuela because of a sugar shortage. The company which is the largest Coke bottle supplier in the entire world told workers that the supply of sugar was very low, and with this being a problem it could persist for months according to several reports.
Coca-cola FEMA which primarily operates across Latin American stated that more than 90% of its products require sugar. At this same time, the company stated that while it was closing down it’s on in Venezuela, it would not be exiting the country.
Miscellaneous/Niche beverage companies
The Other month the Polar Group which in one of many of Venezuela’s largest food and beverage company and the biggest private company overall, stated that it would like to put the production of beer and any over malt beverages to a halt due to the lack of barley.
Having this suspension has hit the economy for Venezuela causing it to almost collapse. Earlier in the week the President has reported that the threat to seize closed factories and nationalize them.
The Reuters had reported that the water levels had dropped very close to being critically low due to Venezuela’s main dam and hydroelectric plant, which provides the majority of the country’s electricity leading the government to ration out the water. The oil-producing country’s economy is struggling to contend with the low energy prices.
However, the currency controls and often irrational behavior by the government had long been an impediment to many Western consumers and packaged goods companies operating in the nation which had been said to be one of the most wealthiest countries in Latin America.