VENEZUELA FOOD INDUSTRY SUFFERS FROM CURRENCY CONTROLS
May 10th, 2014
Food manufacturers based in Venezuela have long struggled to supply the country’s oil-fuelled economy amidst strict government controls and shortages of many key industry inputs. And recent changes to the country's currency regime could - say analysts and business leaders - intensify existing problems in the industry.The last decade’s surging crude prices saw Venezuela spending petrodollars on imports that expanded its packaged food market dramatically: international research group Euromonitor estimates that it grew from USD1.67 billion in 2004 to over USD19 ...
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