Venezuela’s brewing force, Cerveceria Polar, has reported that it is forecasting its beer sales in 2003 to fall to 1.1 - 1.15 billion litres, versus 1.35 billion litres in 2002. Hernan Perez, Polar's director, attributes the impact on beer sales to the economic crisis in Venezuela. "The domestic beer market is forecast to contract by about 20% this year," Perez said. "In the case of Cerveceria Polar sales, we estimate that contraction will be slightly less than the market at around 15% to 20%."

Polar, which is privately owned, controls around 75% of the Venezuelan beer market, making it one of the top five brewers in Latin America. Its principal brands are Polar, Solera, Polar Ice, Polar Light and Vox. Cervecería Polar is the 17th largest beer company in the world. Polar beer is the leader in the Venezuelan market and it is presently the tenth largest beer brand in the world.

02 July, 2003