Latin America Food & Drink Q4 2018
A generally improving economic outlook in Latin America will support food and drink spending over our five-yearforecast period to 2022. Following a strong rebound in 2017, over the near term (ie, 2018) food and drink spending will decline inUSD terms due to weak currency dynamics, notably in Argentina and Brazil. Over the longer term, rising disposable incomes willsupport expansion opportunities for both staples and premium food and drink products for most markets in the region, although wecaution that the popularity of discounters will maintain pressure on margins. Since our Q118 update, we have taken the decision toremove Venezuela from our Latin America food and drink forecasts, due to the country's ongoing economic crisis, as the effects ofhyperinflation give an inaccurate representation of the consumption outlook for the country.
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