MEXICO CITY (Reuters) -- A long, hot summer and hours of watching the
World Cup soccer tournament on television helped Mexicans in 1998
surpass Americans as the world's premier per-capita drinkers of Coca-Cola
Co. products.
The average Mexican drank 412 eight-ounce Coca-Cola drinks in 1998, up
13 percent from 1997, the fastest growth in Latin America, according to
Coca-Cola Co.'s annual report.
"In 1998, we increased (Mexican) per-capita consumption of our products
to 412 (eight-ounce glasses), the highest of our major markets," Coca-Cola,
the world's largest soft drink maker, said in the report.
The report said the company sold 1.6 billion unit cases in Mexico during
1998, accounting for about 68 percent of the country's total soft drink
market.
Americans came in second place, drinking an average of 395 glasses of
Coca-Cola Co. products per year in 1998. Chileans were in third place at
330 cups per person last year.
Susana Moline, an analyst with Mexico's BBV-Probursa brokerage, said the
warm Pacific Ocean current known as El Nino, which caused drought and
long dry seasons in much of Latin America in early 1998, helped boost soft
drink sales in general in Mexico.
The World Cup, played in France last year and watched by soccer fans
worldwide, also helped, she said.
But the World Cup comes only every four years, and drought is not
expected to return in 1999, so Mexico may lose first place this year.
"We are expecting a slowdown this year, because we won't have those two
effects, so we doubt the pace can be maintained," Moline said.
That would be in line with Coca-Cola's forecast late on Monday that
worldwide sales would weaken by 2 percent in the first quarter of 1999,
putting annual growth projections in jeopardy.
On Wall Street, Coca-Cola shares lost $3.875 on Tuesday, to $63.31 after
sales expectations were lowered.
Alex Roberts, an analyst with Santander Investment, said the strength of
soft-drink consumption in Mexico also reflected perennial factors such
as
water pollution keeping people from drinking tap water.
Copyright 1999 Reuters.