Coca-Cola to stop production of its beverage in Venezuela because of sugar shortage

Shortage of sugar is forcing Coca-Cola out of business in Venezuela - it is suspending production of its namesake soft drink in the country. The US company has said that it is forced to take the action because it has run out of the raw material. Of course, Coca-Cola has said that sugar-free drinks would not be be affected.
The economy of the country is on the verge of collapse and there is widespread shortage of food and inflation is forecast to cross 700%.
This has been reported in news.sky.com dated 21 May 2016.

It may be noted that last month, Venezuela's largest food and drinks company, Empresas Polar, has stopped production of beer due to its inability to procure adequate quantities of imported barley.
There has been violent clashes between security forces and supporters of the opposition to President Nicolas Maduro who had, lat week, imposed a 60-day state of emergency that gave extra powers to police and soldiers. However, in the opinion of analysts, the state of emergency is irrelevant for Venezuelans because their daily life routine consists of spending hours in queue waiting to buy scarce food and basic goods. There have also been reports of looting in Venezuela in recent weeks.
Last year the US has identified Venezuela as a danger to its national security.


Image courtesy wikimediacommons.org

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