Coca-Cola Ceases Its Soft Drink Production in Venezuela
Even soft drink companies are falling victim to the economic crisis that grips most of Venezuela. Coca-Cola being one example of them.
The Coca-Cola company has recently sent out a statement to its Venezuelan suppliers that the company will temporarily shut down its operations due to a sugar shortage in the country, among other raw materials. This announcement only comes mere weeks after Empresas Polar, the largest beer brewer in Venezuela, shut down nearly all of its plants because of a barley shortage.
Despite a halting in production, a spokesperson for Coca-Cola, Danilo Diaz Granados said that the company would continue to produce sugarless drinks such as Diet Coke, more specifically Coca-Cola Light. However, the shortage of supplies only highlights the turmoil that is plaguing Venezuela, as the country has faced food and water shortages for quite some time now. Sugarcane production as a whole has fallen dramatically says Granados, due to the price controls and the increasing costs of production and gathering of materials. In turn, the farmers find themselves turning to other crops to generate a better income.
The Venezuelan economy as a whole has suffered greatly, with many locals being forced to stand in line for hours just to get basic food and water, which is being rationed day in and day out. The crisis has caused president Nicolas Maduro to institute a state of emergency.