ANNOUNCED AS TEMPORARYNo
On 10 July 2016, the President of the Republic of Argentina along the national Minister of Agroindustry, announced in a press release the signing of an Agreement for Trade and Scientific Cooperation between Coca Cola and INTA (National Agricultural Technology Institute).
This Agreement will lead towards Coca Cola tripling the amount of orange juice it purchases from national suppliers and, thus, boost the economic activities of entities operating in the province of Entre Rios. Specifically, through the signing of this Agreement Coca Cola commits to by the year 2025 enhance the amount of orange juice it purchases from Argentine suppliers from 6.000 liters to 18.000 liters.
In addition, the press release also notified the signing of a second agreement for the development of research projects for oranges destined for the industry of beverages. The press release, also stated that Coca Cola, in addition to orange juice concentrate, also will buy from local producers juices of lemons, grapefruit, apples, grapes, pears and peaches from the regions of NEA, NOA, Alto Valle and Cuyo -although in the context of this agreement no purchase quantities were specified. In the previous fiscal year, Coca Cola bought 42.000 tons of these products from Argentine Suppliers. Furthermore, 82%of these 42.000 tons were used toproduce different beverages in 21 countries part of theglobal system of the firm.
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