VENEZUELA: Empresas Polar To Resume Brewing In July

Empresas Polar, Venezuela’s largest brewer, has said it will resume production of beer from July, more than two months after halting the same due to shortages in the country. The lack of malted barley and chronic power cuts led the brewer and food maker to cease production in July.

Polar also said it has not been able to get dollars for imports due to the government’s currency controls, but has managed to get a $35m loan from Spanish bank BBVA, a move that will let it import barley and hops into the country.  The company added: “We have been analysing ways to reactivate our beer production and we came across this temporary solution that will allow us to produce until the end of 2016”.

Polar has been the frequent target of attacks by government authorities, which have accused it of hoarding products to drive prices higher and “destabilise” the economy.  The company has strenuously denied such allegations.