The Mexican Coca-Cola FEMSA suspended production in Venezuela on Monday, because of a sugar shortage. The production of diet Coke, bottled water, and zero-sugar beverages will continue.
The company is not leaving the country, but cannot for the moment produce 90% of its products, which require sugar. The company is the largest Coke producer in Latin America and Venezuela accounts for 7% of its revenue.
Local sugar production has tumbled due to high labour costs, price controls, and the lac...
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