The National Alliance of Small Merchants (Anpec) indicated that starting November 13, 2023, the prices of certain Coca-Cola products in Mexico will increase by one peso on average due to the inflationary effect and the rise in sugar.
Anpec highlighted that the bottler’s products had kept their prices unchanged for a year, with the last adjustment recorded in August 2022, when they also increased one peso.
According to records from the National Institute of Statistics and Geography (Inegi) and the Ministry of Economy (SE), the price per kilogram of sugar has increased more than 30 percent compared to the same period in 2022, marking its largest increase since 2016.
However, the National Chamber of Sugar and Alcohol Industries (CNIAA) pointed out that the increase in the national price of sugar is due to a speculative bubble derived from the end of the cane harvest, international political conflicts and an increase in intermediaries.
“There is an unjustified price increase in the price due to speculation, since in Mexico there is enough sugar to cover the consumption needs in the country,” said Humberto Jasso Torres.
In the first half of October, inflation in Mexico reached 4.27 percent, its lowest level since March 2021, according to Inegi data.
For its part, Coca-Cola FEMSA reported a 10.1 percent increase in its revenues, reaching 62,853 million pesos compared to the previous year. This growth is attributed in part to an increase in sales volume.
Acapulco is saved from the increase
Anpec added that in solidarity with the population affected by Hurricane Otis in Guerrero, the Coca-Cola Femsa bottler decided not to increase its prices in the affected area until next year.
“In solidarity with the population of Acapulco, it will not increase its prices until next year in the area affected by Hurricane Otis. However, in the rest of the states the increase will come into effect starting Monday, November 13,” he said. .
With information from Juan Luis Ramos