Sugar shortage forces Coca-Cola to stop production in Venezuela
- 8 years ago
CARACAS, VENEZUELA — A sugar shortage has forced Coca-Cola to stop making its signature soda in Venezuela, the latest blow to a country already crippled by low oil prices.
CNN Money reports that Venezuela is suffering an economic crisis, with the government unable to afford basic imports such as sugar, milk, eggs and flour.
Sugarcane production is down due to price controls, rising production costs and a lack of fertilizer. Many farmers are switching to other crops, which provide more yield and generate a higher income.
The country was expected to produce 430,000 tonnes of sugarcane from 2016 to 2017, down from 450,000 in the last year, and import 850,000 tonnes of raw and refined sugar.
With the lack of raw materials, Venezuelan bottler Coca-Cola Femsa SAB has had to stop production of Coke and other sugar-sweetened drinks. Sugarless beverages like Diet Coke and bottled water will still be produced and distributed, according to Reuters.
The company operates four plants in the country and is Latin America's biggest coke bottler.
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CNN Money reports that Venezuela is suffering an economic crisis, with the government unable to afford basic imports such as sugar, milk, eggs and flour.
Sugarcane production is down due to price controls, rising production costs and a lack of fertilizer. Many farmers are switching to other crops, which provide more yield and generate a higher income.
The country was expected to produce 430,000 tonnes of sugarcane from 2016 to 2017, down from 450,000 in the last year, and import 850,000 tonnes of raw and refined sugar.
With the lack of raw materials, Venezuelan bottler Coca-Cola Femsa SAB has had to stop production of Coke and other sugar-sweetened drinks. Sugarless beverages like Diet Coke and bottled water will still be produced and distributed, according to Reuters.
The company operates four plants in the country and is Latin America's biggest coke bottler.
-------------------------------------------------------------
Welcome to TomoNews, where we animate the most entertaining news on the internets. Come here for an animated look at viral headlines, US news, celebrity gossip, salacious scandals, dumb criminals and much more! Subscribe now for daily news animations that will knock your socks off.
Visit our official website for all the latest, uncensored videos: http://us.tomonews.net
Check out our Android app: http://bit.ly/1rddhCj
Check out our iOS app: http://bit.ly/1gO3z1f
Get top stories delivered to your inbox everyday: http://bit.ly/tomo-newsletter
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Twitter @tomonewsus http://www.twitter.com/TomoNewsUS
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