SA SUGAR TOO COSTLY FOR COKE

COCA COLA said that the price of South African sugar as well as high excise tax is negatively affecting its production capacity in the country. Speaking at the World Economic Forum summit in Durban on Monday, president of the southern Africa Division of Coca-Cola said that Coca-Cola is encouraged by South Africa’s bold first steps in reducing the excise tax rates by 20% and the government’s commitment to eliminate these discriminatory duties over time. Donald Knauss said that Mozambique’s leadership in zero excise tax has had a huge impact – with Coca-Cola’s volume growing 40% in 1998 over the previous year.