Reports from Dateas state that the Venezuelan economy is going through some really rough times. This affects the people and industry on several levels. The downturn in the economy has also led to a shut down of the Coke production plant in Venezuela. In fact, Coca Cola has suspended all production in the country. This is disheartening news for the people that work in the industry and the stock market. Clearly, the shutdown is due to the lack of an important ingredient in the product. That important ingredient is sugar.
The Coke Shut Down
Representatives for Coca Cola in Venezuela state that the shutdown had to happen because of the decreasing amount of sugar that is available in the country. Other reports further state that the country is in the middle of a water shortage too. The water levels in the hydroelectric plant are at an all time low point. The plant supplies the majority of electricity for the country. At this point, expert Jose Manuel Gonzalez thinks the government has resorted to rationing water out to the country’s people. In addition, the oil industry is struggling with the economic changes that are seriously affecting the country. It is interesting to note that at one time, Venezuela was one of the richest countries in the Latin American region. Economists are looking to a change in the future to return the country to a better condition.