Coca-Cola halts Venezuela production amid sugar shortage
CARACAS - Coca-Cola is halting production in Venezuela of its namesake beverage due to a sugar shortage brought on by the country’s economic crisis.
Production of sugar-sweetened beverages will be suspended in the coming days after local suppliers reported they had run out of the raw material, the Atlanta company said in an emailed statement Friday. Sugar-free beverages aren’t affected, and the company said its offices and distribution centers remain open in Venezuela.
The move comes as Venezuela’s economy is teetering on the edge of collapse with widespread food shortages and inflation forecast to surpass 700%. Last month, Empresas Polar, Venezuela’s largest food and beverage company, stopped production of beer because of a lack of imported barley.
Venezuela shares a border with Brazil, the world’s largest producer and exporter of sugar by volume.