CARACAS, May 24: A sugar shortage has forced Coca-Cola to stop producing soft drinks in Venezuela amid an escalating food and energy shortage.
Coke said that suppliers in Venezuela will "temporarily cease operations due to a lack of raw materials".
The announcement comes after the country's biggest brewer, Empresas Polar, closed plants due to a barley shortage.
Venezuela's economy has contracted sharply as oil prices plunge, reports BBC.
A Coca-Cola spokesperson said the company would continue producing sugarless drinks such as Coca-Cola Light (Diet Coke).
"We are engaging with suppliers, government authorities and our associates to take the necessary actions for a prompt solution," she said.
Sugarcane production has been falling due to price controls and rising production costs, as well as problems in obtaining fertiliser.
As a result, many smaller farmers have turned to other crops that are not price controlled and thus generate higher income.
- TM [Read More]

—–
Source: The Financial Express