Coca Cola production has been halted in Venezuela, due to a lack of sugar. The country is expected to produce 430,000 tonnes of sugar cane in 2016/17, down from 450,000 tonnes the previous year. In addition, there are concerns that Venezuela’s economy will be hit by an economic crisis as its oil exports decline. Kerry Tressler, Coca Cola spokeswoman, said, “Sugar suppliers in Venezuela have informed us that they will temporarily cease operations due to a lack of raw materials. We are engaging with suppliers, government authorities and our associates to take the necessary actions for a prompt solution”. Ford, Kraft Heinz, and Proctor & Gamble have also reduced or suspended production in the country, which is in the midst of an economic crisis.
Coca Cola production has been halted in Venezuela, due to a lack of sugar. The country is expected to produce 430,000 tonnes of sugar cane in 2016/17, down from 450,000 tonnes the previous year. Several factors have contributed to a fall in production in recent years, including rising production costs, price controls and a lack of foreign exchange. Kerry Tressler, Coca Cola spokeswoman, said, “Sugar suppliers in Venezuela have informed us that they will temporarily cease operations due to a lack of raw materials. We are engaging with suppliers, government authorities and our associates to take the necessary actions for a prompt solution”. Ford, Kraft Heinz, and Proctor & Gamble have also reduced or suspended production in the country, which is in the midst of an economic crisis.