Brazilians Used Covid Aid to Buy More Beer, Fueling Ambev Sales
Ambev Brazil beer sales surged 25% in the third quarter from a year earlier.
Photographer: Paulo FridmanThis article is for subscribers only.
An emergency stipend provided by the Brazilian government to help informal workers weather the pandemic has also been helping boost beer consumption in Latin America’s largest economy.
Ambev SA, the unit of Anheuser-Busch InBev that operates in 16 countries, said its Brazil beer volume surged 25% in the third quarter from a year earlier, crushing estimates from analysts tracked by Bloomberg. Net revenue totaled 15.6 billion reais ($2.7 billion), up from about 12 billion reais in the same period last year.