Venezuela Sugar Producers Must Sell 70% to Retail, Gazette Says

The Venezuelan government ordered sugar producers to sell 70 percent of their production to retail outlets and the rest to local industry, according to a resolution published today in the Official Gazette.

Sugar producers must allocate the majority of output in packages of five kilograms or less to shops to avoid shortages, the resolution said. The measure comes after authorities this week held meetings with local producers to address shortages of food staples in supermarkets.

To contact the reporter on this story: Corina Pons in Caracas at crpons@bloomberg.net.

To contact the editor responsible for this story: Andre Soliani at asoliani@bloomberg.net.

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.