Now Available: Venezuela Food & Drink Report Q2 2013

In Venezuela, the recent devaluation of the bolivar will weigh heavily on the import-dependent consumer, and we therefore forecast real private consumption growth to slow sharply from 7.0% in 2012 to 2.0% in 2013. Indeed, we are forecasting real GDP growth in Venezuela to halve in 2013, driven by a significant erosion in consumers' purchasing power due to the devaluation.

Headline Industry Data (US$)

* Per capita food consumption forecast to 2017 = -7.55%.
* Alcoholic drink sales forecast to 2017 = -7.20%.
* Soft drink sales forecast to 2017 = -3.6%.
* Mass grocery retail sales forecast to 2017 = -3.82%.

Key Company Trends And Developments

Immediate Effects of Currency Devaluation for Multinationals: After BMI's long-held expectation of a devaluation of the Venezuelan bolivar materialised in early February 2013, we anticipate a one-time loss on balance sheets and profit cuts for multinationals. Mexican-based Coca-Cola FEMSA, for example, has already warned that Venezuela's recent devaluation of its currency will have an effect on the company's financial results by increasing operating costs from dollar-denominated raw materials and reducing Venezuelan operating profits when translated into Mexican pesos. A number of other companies, including Colgate-Palmolive and Procter & Gamble have also said they will book charges tied to the move.

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Full Report Details at
- http://www.fastmr.com/prod/554175_venezuela_food_drink_report_q2_2013.aspx?afid=301
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Key Risks To Outlook

Political and Economic Uncertainty: The huge uncertainty surrounding policy trajectory following President Chavez's death poses a significant downside risk to our growth forecast.

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