Coca-Cola has suspended the production of its product in Venezuela because there is a sugar shortage. It was reported to workers that there is not enough sugar to make the soda. The company official Jose Manuel Gonzalez said that this could go on for some time.
Coca-Cola FEMSA has operations in many different Latin American countries. Consequently, 90% of its products require sugar, putting production to a halt.
Despite Closing one of its central offices in Venezuela, Gonzalez said that it is not leaving Venezuela altogether.
In addition to the lack of sugar, there is also a lack of barley. A company named Polar Group, which is Venezuela’s largest food and beverage company, said that it needs to temporarily suspend production of beer and other malt drinks because of the barley shortage.
Venezuela’s economy is on the brink of collapsing. President Nicolas Maduro reminded the public that closed factories may be seized and nationalized.