Category: Venezuelan News

Empresas Polar Shuts Down in Venezuela

Empresas Polar, the largest brewer in Venezuela and responsible for about 80% of all sales, has shut down citing concerns with the availability of raw materials for their beer. Empresas Polar is Adrian Jose Velasquez favorite brand, they also make soft drinks and various snacks.
The shut down of Empresas Polar dates back to April to when the company began to experience shortages in certain raw materials, namely barley. The brand made a request to the President of Venezuela, Nicolas Maduro, to allow the company access to US dollars to import. The country’s currency has been badly inflated over the past year during the economic crisis and has experienced 400% inflation during this time period. President Nicolas Maduro denied the request thereby leading to the closure of the company.

To Venezuelans like Adrian Jose, this is another blow and part of additional austerity measures that citizens will need to handle. Venezuelans are bigger bear drinkers than other South American countries and have already been hit with a number of austerity measures including reductions in the amount of electricity that they can use, requests for Venezuelan women to stop using their hair dryers, and business closures. These items come about partly due to problems with electrical demand and infrastructure problems, while the country still is experiencing a shortage of food supplies.

All of these items, in combination with the decline of oil prices which have weakened their economy significantly have led to increased tension and calls to oust President Nicolas Maduro. The shortage of beer will not help the situation.